Glasgow media firm STV Group plc said on Tuesday its 2025 revenue fell 6% to £176.9 million and its total advertising revenue (TAR) declined 10% to £89.3 million.
STV said it made a loss before tax of £5.9 million compared to a 2024 profit of £10.4 million. Net debt rose to £45.3 million from £38.7 million.
The media company will not pay shareholders a dividend for 2025. It paid a 2024 dividend of 11.3p per share.
The firm’s share price fell about 7% — and is down roughly 40% for the past year, reducing its stock market value to around £47 million.
STV said: “Although the business continues to be cash generative, given continued pressure on operating margins and the current debt profile, the board believes that it is prudent not to declare a dividend in respect of 2025, to preserve financial flexibility and liquidity as the business stabilises.
“The directors understand the importance of optimising value for shareholders, and it is the directors’ intention to return to paying a dividend when it is prudent for the group to do so.”
STV Group CEO Rufus Radcliffe said: “Throughout a challenging 2025 for both of our key markets, we acted decisively to adapt the business to rapidly changing conditions, and have delivered results in line with latest guidance as well as making clear progress across our strategic pillars.
“We remain focused on improving financial performance in 2026 supported by tight cost discipline despite continued limited market visibility.
“Our new Audience division, bringing together broadcast, streaming and audio, is maximising reach and engagement, strengthening our advertising proposition and opening new commercial opportunities following the launch of STV Radio.
“STV Studios continues to deliver high‑quality, returnable IP with strong international appeal, supported by an expanded customer mix and disciplined portfolio management.
“Having taken decisive steps to re-engineer the group’s cost base in the period, this focus on tight cost discipline will remain a priority in 2026.
“We also believe 2026 offers reasons for optimism, including the Men’s Football World Cup, new advertiser product innovation, and major new scripted and unscripted deliveries for global streamers. We believe that the transforming media landscape will continue to offer opportunities for STV.”