Scottish Television has failed to include its £8 million investment, representing its 20% stake, in GMTV in its preliminary results. GMTV did not generate any profits in 1996, but STV revealed strong preliminary results for 1996 with a 40 % rise in pre-tax profits *STV Profits Rise 40%.
Gary Hughes, financial director of STV claims that the move has been made as a result of the uncertainty surrounding GMTV’s future value.
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