Ann: Full Year Statutory Accounts, page-3

It's a struggling industry.

They need to focus on what they do well, which is the TV production. They could probably advance the digital marketing BU.

The focus should be to divest so they can consolidate their core offerings. The business might be much smaller, but with that foundation they should be able to return value to shareholders and increase profit margins.

The management are stuck in traditional business models - which a number of older businesses seem to be, not their fault, they just need to refocus.