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Scottish broadcaster STV Group swung to a first-half profit, as improving margins buffered the company from falling revenues.
Pre-tax profit for the six months through June amounted to £9.1m, compared to a loss of £4.3m on-year.
The rise in profit came despite revenue slipping 5% to £54.9, owing, in part, to the closure of the loss-making STV2.
STV declared an interim dividend of 6.3p per share, up 5% on-year.
'An operating profit increase of 10% when national advertising revenues are down supports the decisions we took to reposition the group for profitable growth,' chief executive Simon Pitts said.
Pitts said the company has focused on its regional strengths and the growth potential offered by its digital and production businesses.
'In the first half of 2019 we have enjoyed the best all time viewing share on STV since 2009 and our total advertising revenue has outperformed the wider TV market,' he added.
The improved performance was driven by continued growth in digital and regional advertising, and by the increasing success of the STV Growth Fund, which has attracted over 100 new Scottish advertisers to television since launch.
'These factors have contributed to a strong first half performance, with a significant improvement in operating margin,' Pitts said.
At 8:04am: (LON:STVG) STV Group PLC share price was +9p at 364p