Scottish media company STV Group reported a fall in operating profit to £9 million from £14 million, the year before.

Overall revenue of the company recorded a decline of 30 per cent due to advertisement recession along with sale of Virgin Radio. Broadcasting revenue declined 13 per cent to £77.8 million due to a reduction in national and regional airtime.

The company's revenue from new media amounted to £2.8 million, down from £3.1 million, for lower business in the premium rate telephony services category. Also, the loss of Setanta business forced revenue from solutions to decline by £1.4 million to £1.6 million. Pearl & Dean revenues fell by 10 per cent to £2.1m as contract wins was nullified by the decline in the general cinema advertising market.

According to Chairman Richard Findlay, "STV has delivered a strong set of results, particularly in light of the extremely challenging market conditions in 2009, including the demise of Setanta and the delay in ITV's re-commission of Taggart."