STV Group downgrades sales and profit outlook, shares plummet 25%, due to economic challenges.

Scottish media firm STV Group downgraded its sales and profit outlook due to economic challenges affecting advertising revenues and delaying TV projects. Shares fell by about 25% following the announcement. STV expects full-year revenue between £165 million and £180 million, with advertising revenues for July to September forecast to decline by 8%. The company attributes the downgrade to worsening conditions in the commissioning and advertising markets.