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STV Group Reports Positive Momentum In Q1; Sees Higher Advertising Revenue

STV Group plc (STVG.L) reported Tuesday positive momentum in its first quarter, in line with expectations. The company expects total advertising revenue across national, regional and digital to increase 1% to 2%.

In its trading update to be provided at the Annual General Meeting, the company said business performance continues in line with expectations and its previously given guidance.

Within the total advertising revenue, national advertising revenue is expected to be ahead of previous guidance of down 1% to 2%.

The company projects regional advertising to be up 20% to 25% driven by the on-going success of the STV Growth Fund. Digital revenues would also grow 15% to 20% reflecting continued strong growth from the STV Player.

Simon Pitts, Chief Executive Officer, said, "We have made a strong start to 2019, with TV and online viewing levels continuing their positive momentum from 2018 and total advertising revenue also growing, demonstrating STV's increasing resilience in the advertising market even in an uncertain economic climate."

In London, STV Group shares were trading at 376.90 pence, down 1.46 percent.

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