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Home > Digital Recruitment news >> Entertainment company 'will hit targets'


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Entertainment company 'will hit targets'
28-08-2008

The Scottish television company owned by the same group that recently sold London-based Virgin Radio says it will hit its profit targets this year,

SMG stated that it has been a difficult advertising market but announced pre-tax profits of £4.2 million for the first half of 2008.

SMG Group, which also recently sold Primesight and Pearl & Dean, saw revenue fall by around £13 million in the previous 12 months.

Pearl & Dean reported a year-on-year loss of £1 million over the first half while Virgin Radio's revenue fell by almost £1 million to £11.3 million.

SMG sold Virgin Radio to TIML in June for £53.2 million and STV, the group's television station, is currently rebranding its image.

Chairman Richard Findlay said: "We have made great progress on our 2008 targets and we remain confident of our ability to achieve the goals we set out."

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