Sharewatch: United Business Media Soars Ahead Of Close
United Business Media claimed the spotlight last week, managing consistent rises to sit 5.59% higher in week on week analysis. Today sees the publication of a pre-close season update statement, revealing revenue improvements and increases in efficiency well ahead of targets.
The company claims to have boosted profit ahead of forecasts through recent acquisitions, with the €283 million purchase of MediMedia’s drug information business expected to bring further revenue increases when it is completed in July.
Elsewhere, ITV saw good performance, adding 2.96% to its price week on week to close at 114˝p on Friday. Last week saw the broadcaster partnering with several high-profile FMCG brands to sponsor new programming, as well as announcing online deals to bolster existing activity (see ITV Forms Online Partnership With DatingDirect).
Newspaper giant Daily Mail & General Trust rose by 1.98% week on week as a close was finally brought to the Telegraph‘s ownership battle. The reclusive Barclay brothers scooped the titles after DMGT was forced to withdraw its bid due to the mounting price of the auction.
The closing prices of media company shares on Friday were:
