TIDMSTVG

STV Group PLC

07 February 2023

 
Towards streaming and content 
 
 STV continues to be viewed as a mature broadcaster, yet it is transforming into a growing 
 streaming and production business. We see continued double-digit growth prospects in these 
 areas, together with a resilient broadcast business, and calculate five-year growth of 7% 
 pa in revenue / 10% pa in operating profit for the group (FY23E-FY28E). Near-term economic 
 pressures are factored into current EPS estimates, but should also drive eyeballs towards 
 STV's free AVOD service. Current valuation (7.6x FY23E EPS / 4.3% dividend yield) looks modest 
 given the longer-term potential.

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(END) Dow Jones Newswires

February 07, 2023 02:46 ET (07:46 GMT)

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