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Scripps results driven by US, int’l gains

Scripps Networks Interactive reported strong fourth quarter results, driven by advertiser demand for Scripps’ brands in the US and by its takeover of Polish broadcaster TVN.

Scripps’ Q4 operating revenue for its International Networks division was US$163.0 million, an increase of US$135.7 million compared with Q4 2014, while profit was US$36.4 million, compared to a loss of US$8.0 million a year earlier. Both gains were primarily attributed to the consolidation of TVN’s operations.

Scripps’ US Networks operating revenue for the fourth quarter was US$701.8 million, an increase of 8.0%, driven by both advertising revenue and affiliate fee growth.

Profit for the US division was up 1.1% year-on-year in the quarter to US$309 million, which it said reflected strong revenue growth and operating improvements due to the restructuring and early retirement program.

Scripps CEO Kenneth Lowe said: “Our core television lifestyle networks are growing in demand by viewers and advertisers, while our international expansion continues to make a significant contribution to theoverall robust health of the company.”

“We continue to build on the success of our powerful lifestyle media brands, and every day we are increasing the number of connections those brands make with consumers around the world. As a result,we’re well positioned to maximise the value we can generate from the audiences we deliver across multiple platforms.”

Overall the firm reported Q4 operating revenues of US$851.8 million, an increase of 27.3% year-on-year. Profit was US$317.9 million, an increase of 21.5%.

Scripps closed its acquisition of a majority stake in Polish commercial broadcaster TVN from ITI and Canal+ Group in July last year. In September it confirmed that it owned 98.8% of TVN and was starting the “squeeze out process” to secure 100% of the broadcaster.