STV has this morning posted its full year results for 2025 - revealing operating profit fell more than 70% in the space of a year to £3.8million.
Chief Executive Rufus Radcliffe admitted 2025 had been a "challenging" year, but insisted 2026 "offers reasons for optimism".
The fresh figures reveal STV's operating profit plummeted 71% from £13.2million in 2024 to just £3.8million in 2025.
Adjusted operating profit fell 44% in the same period from £20.6million to £11.6million.
Revenue also fell 6% to £176.9million while net debt increased by £6.6million to £45.3million.
It comes as STV management plans to execute £8million of cost-saving measures by the end of 2026.
The company has also recently seen the successful launch of STV Radio, attracting new advertising opportunities, while STV Player recorded record viewing figures, up 9% to 75 million hours.
Rufus Radcliffe, Chief Executive, 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."
Last week, Ofcom announced a delay in its decision on whether or not to allow STV's controversial axing of its dedicated north news programme.
The decision won't now be announced until after May's Holyrood elections.
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The UK's flagship share index, the FTSE 100, was up 43 points at 10,335 shortly after opening this morning.
Brent crude oil futures were up 3.07% at $103.74 a barrel.
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