Mainly Scottish digital media company engaged in the production and distribution of content across multiple devices and platforms, including television broadcasting and the sale of advertising airtime and space in the media

1-Mar-2018 – 358p – £140.9m – PER 8.33

Full Year Results For 2017 – Broadly in-line, the headline is “Resilient performance; increasedreturns to shareholders”, YoY Dividend up 13% and the “additional return of £10 million of capital to shareholders (has) commenced”.

I still have concerns about the growth of Netflix, etc. impacting this area plus the possibility of advertising revenues being cut. I remain Neutral for now.

28-Feb-2019 – 357p – £140m – PER 7.7

Results For The 12 Months To End December 2018 – Revenue up 8%, PBT up 6%, Adjusted EPS up 4% and the FY Dividend is up 18%. Net Debt up slightly at £36.3m.

Still concerns here regarding the offerings from others, Netflix, etc. and cuts in advertising perhaps! Looks attractive enough and where it not for my concerns I could possibly be a buyer here for the yield (5% or so).

23-Apr-2019 – 382p – £150m – PER 8

AGM Statement And Q1 Trading Update – In-line.

Attractive enough (5% or so yield) but still concerned about Netflix, etc. and potential cuts in advertising budgets, perhaps!

2-Sep-2019 – 355p – £139m – PER 7

Interim Results For The 6 Months To End June 2019 – Revenue down -4.9%, Adjusted PBT up 7.4% and EPS up 9%. No clear guidance on FY.

Still attractive enough (5% or so yield) but my concerns related to Netflix, etc. and potential cuts in advertising budgets, remains.

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