SMG trading in line with expectations

GLASGOW - The Scottish Media Group is trading in line with expectations, chairman Richard Findlay, pictured, told today's annual general meeting.

Television airtime revenues are expected to decline in the period to June by seven per cent over the same period last year, but this represents an outperformance against ITV1, which was down by more than nine per cent year on year, he said.

Virgin Radio revenues have grown by eight per cent, also outperforming the market, and cinema advertising business Pearl & Dean has seen strong revenue growth of seven per cent. Outdoor arm Primesight has increased revenues by eight per cent.

Also today, SMG chief executive Rob Woodward has announced a new senior management team, with Bobby Hain leading the broadcasting business as managing director; David Archer taking on a new role as managing director of stv Ventures; and Elizabeth Patryka as acting managing director of content. Chief financial officer George Watt, human resources director Suzanne Burns and director of strategy and planning will lead the key enabling functions. All appointments are with immediate effect.

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