UNCERTAINTY over the future of hit television detective series Taggart sent shares in Scottish media group STV plunging yesterday.

STV said it had not yet received confirmation from broadcaster ITV of a commission for the long-running show this year.

The group said it was “confident about the future of the series”, but shares fell 14% on the news. STV faces a £3m hit if the show is not recommissioned.

The company has rearranged its bank facilities to cope with the possible impact of the show being dropped, as well as lower earnings from its Pearl & Dean cinema arm.

Investec analyst Steve Liechti said the possible loss of Taggart was a “key risk” to the business although a later commission would also dent this year’s performance.

Taggart first aired in 1983 and starred Mark McManus in the title role until his death in 1994.

Despite the uncertainty over the key show, STV had more positive news after it won its first commission from the BBC – a 20-part daytime series called Antiques Road Trip.

The group has also been encouraged by “significantly improved” regional advertising revenues since the first quarter of the year.

These shrank by 12% in the second quarter – better than the 19% decline seen in the first three months.