The Scottish based broadcaster STV is reporting a fall in revenues for the last year and the company has put these results down to challenging market conditions.
The revenues posted by STV for the year were £110.2 million, which is down 23.7 per cent from the £144.5 million posted in 2008.
The drop in revenues means that the broadcaster’s pre tax profits have also fallen by 54 per cent to £6 million.
STV has been challenged from virtually all sides in the past year with problems arising from changing schedules and removing content provided by ITV, but the broadcaster has noticed a strong start to the year.
The past couple of years have been difficult for STV with the loss of advertising revenues.
STV now needs to find a way of increasing advertising revenues in order to bounce back in 2010.