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The Independent
22 minutes ago
- The Independent
STV warns over profits as advertising market slumps and TV projects delayed
Scottish media firm STV Group has downgraded its sales and profit outlook as 'deteriorating' economic conditions squeeze advertising revenues and push back TV projects. Shares in the London-listed business plunged by about a quarter on Monday morning following the update. STV said it was now expecting full-year revenue and adjusted operating profit to be 'materially below' a consensus of analysts. Revenues are predicted to range between £165 million and £180 million for 2025. The company said it was now targeting £2.5 million worth of cost savings this year – higher than the £1.7 million outlined in March – having launched a significant savings programme last year, including across its broadcast operations. STV blamed worsening conditions in the commissioning and advertising markets in recent months for the profit and sales downgrade. Advertising revenues for the period between July and September is forecast to decline by 8%, lower than previously expected, driven by a sharp 20% drop in July, it told investors. The year-on-year decline is set to be impacted by particularly strong sales this time last year, due to the men's Euro football tournament being broadcast on TV. It follows a 10% fall in advertising revenues over the first half of 2025. A number of businesses, including WPP and S4 Capital, have flagged a worsening advertising market as more challenging economic conditions prompt clients to reign in marketing spending. Furthermore, STV warned the uncertainty was causing significant deterioration in the commissioning market. It said projects within its unscripted labels were being impacted with some in advanced development not getting the green light, and others being delayed into 2026. Nevertheless, it highlighted strong progress within its scripted labels with current projects including for Netflix, Apple, Sky and the BBC. Rufus Radcliffe, STV's chief executive, said: 'The deteriorating macroeconomic backdrop continues to lower business confidence impacting both markets in which we operate. 'STV Studios' delivery schedule for the remainder of 2025 has been impacted by the UK commissioning market, which has further weakened at the end of H1 (the first half of 2025) and into the second half of the year.' But he said production had finished on 'key titles with international appeal, including high-end drama Amadeus for Sky and a third series of Blue Lights for BBC One'. 'We are proactively responding to market conditions through a combination of investing in targeted future growth initiatives aligned with our long-term strategy and identifying efficiency and cost saving opportunities across the business,' Mr Radcliffe added.
BBC News
22 minutes ago
- BBC News
Falkirk lacking 'a bit of magic'
Former Celtic striker Cillian Sheridan worries Falkirk are lacking "a bit of magic" in their Bairns get their top flight season under way next weekend when they host Dundee United but Sheridan has concerns over John McGlynn's squad. "I don't think they've really added enough to the squad," he told the BBC's Scottish Football Podcast. "I know McGlynn hasn't changed much of his squad from even from the League One days. "They're brilliant, really well coached and every player knows exactly where the other player is going to be. I would just worry about the overall strength in the squad in terms of having individual game changers rather than the collective being really good. "I know that they have quality like Scott Arfield in the midfield and very good attacking players but I just feel like in that moment where they just need one player to produce something, a bit of magic, out with the setup of the team, that might be where they could struggle."
The Sun
22 minutes ago
- The Sun
Moment Sir Keir Starmer arrives for showdown talks with Donald Trump as PM's plane lands ahead of trip to Turnberry
SIR Keir Starmer has arrived in Scotland for showdown talks with President Donald Trump. The Prime Minister is visiting the US leader's Turnberry estate in South Ayrshire today. 4 4 4 4 Sir Keir is expected to raise the prospect of reviving ceasefire talks between Israel and Hamas amid the humanitarian crisis engulfing Gaza. Fears are growing in the international community over mass starvation in the region. The Labour leader is also likely to discuss the future of tariffs on British steel. Sir Keir and Mr Trump have built a rapport on the world stage, despite their differing political backgrounds. The Republican leader has previously praised the PM for doing a "very good job" so far in government. First Minister John Swinney will also meet the president during his five-day visit to the country. He said he will urge Mr Trump to place pressure on Israel to agree to a lasting ceasefire and allow more humanitarian aid into Gaza. Mr Swinney told BBC Breakfast: "I think what's important is that we focus on the solutions that are required now, and the absolutely immediate situation is a necessity for a ceasefire and for humanitarian aid to need to flow into Gaza so that the people of Gaza can be saved from the starvation that they face. "And that is the blunt human reality of the situation that we face, and there must be an intensification of pressure on Israel. "And I think President Trump is ideally positioned. In fact, he's perhaps uniquely positioned to apply that pressure to Israel to ensure that there is safe passage for humanitarian aid to support the people of Gaza, who face an absolutely unbearable set of circumstances as a consequence of the conflict. TRUMP V WINDMILLS "And a key part of that must be the application of a durable ceasefire, the flow of humanitarian aid and the progress towards a two state solution in the Middle East." Mr Swinney also said he would use his meeting with President Trump to press him to exempt Scotch whisky from US trade tariffs. The SNP leader said the "uniqueness" of malt made in Scotland justified the exemption from the 10 per cent tariff applied on UK exports into the US. Sir Keir and Mr Trump are also expected to discuss the war in Ukraine, which Number 10 said would include "applying pressure" on Vladimir Putin to end the invasion, before travelling on together for a private engagement in Aberdeen. It comes after Mr Trump announced he had agreed "the biggest deal ever made" between the US and the European Union after meeting Ursula von der Leyen for high-stakes talks at Turnberry yesterday. Speaking ahead of his meeting with Sir Keir, Mr Trump said: "We're meeting about a lot of things. We have our trade deal and it's been a great deal. "It's good for us. It's good for them and good for us. "I think the UK is very happy. They've been trying for 12 years to get it and they got it. "It's a great trade deal for both, works out very well. We'll be discussing that. "I think we're going to be discussing a lot about Israel. They're very much involved in terms of wanting something to happen. "He's doing a very good job, by the way." Mr Trump's private trip to Scotland comes ahead of a planned state visit to the UK in September.
