Sharewatch: GWR Climbs As Media Stocks Bounce Back

Media stocks in general saw a good day’s trading yesterday, with only two exceptions to the rule. GWR in particular performed well, rising by 4.29% to close at 455˝p following the group’s announcement that pre-tax profits had risen to £17.1 million for the year, as advertising revenues grew by 8.4% to £125.6 million (see GWR Outperforms Radio Industry As Profits Double).

Elsewhere, Highbury House Communications also performed well, adding 4% to its share price as it announced profits significantly ahead of last year and improved performance from its business magazine sector (see Highbury House Reaps Benefits of 2003 Acquisitions).

Rival Future Publishing proved less fortunate with its share price remaining static despite the recent launch of what it claims will be the world’s first paperless magazine, BroadbandNow!, aimed at high-speed internet users and distributed electronically (see Future Launches World’s First Ever Paperless Magazine).

The FTSE 100 saw a tumultuous day yesterday, fluctuating wildly but remaining in the black, with an end of day rise of 0.4% to 4,438.3. The FTSE 250 also rose, climbing by 0.8% to finish at 6,033.

The closing prices of media company shares on Wednesday were:

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