STV Group plc

Hello everybody. Sorry about the delay, just a wee technical. Welcome to today's presentation on STV's interim results to the end of June 2025. And importantly today, we've also announced beyond the results, full details of our response to the challenging market conditions that we're facing at STV. Rufus and Lindsay will share full details of a cost saving programme and the additional measures put in place to protect profitability and provide balance sheet flexibility should it be required. So, you know, despite current headwinds, there are many positives to be taken from today's announcement. STV continues to hold share as the most popular peak-time TV channel in Scotland, and STV Player recorded its highest ever viewing figures for the first half. STV Studios, including its minorities, has secured 30 new commissions in 2025, year to date. And most recently, we won the commission for Army of Shadows, a brand new returnable drama that's been commissioned by Channel 4. So all good news. STV Radio, a new proposal that we announced recently, is on track for launch in the coming months. And that's just a few of the very positive things happening across the business. We are an ambitious business and there's a lot to look forward to as we work towards delivering our Fast Forward to 2030 strategy. You may also have seen the news this morning that I will step down as chairman by the end of the year. I've been with the company for almost five years and this feels like an appropriate time to step down and for a new chair to lead the company as it drives through on the fast forward strategy. And I'm delighted that Clive Wiley has been appointed as my successor and I'm going to work closely with Clive over the coming few months to ensure a proper and comprehensive handover. Clive brings to STV really extensive experience and skills acquired across a broad range of sectors and I really hope he enjoys his time with the business as much as I have. Having grown up watching SDV, I'm really proud to have served as your chair for the past five years, working with a great team to deliver the ambitious and successful diversification strategy, which has built the foundations of the business and will enable us to remain strong. I feel confident I'm leaving STV in due course in very safe hands with Clive, with our strong and experienced board of directors and with our exceptional leadership team. Now, I'm going to hand over to Rufus and Lindsay to take you through the details of today's announcement. Rufus.

Thank you very much, Paul, and good afternoon, everyone. Before beginning, I wanted to also thank you, Paul, for everything you've done for STV over the past five years, overseeing a period of significant progress and diversification of the business. Obviously, this is your last set of results and we wish you the very best of luck for the future.

Thanks, Rufus.