Sharewatch: Capital And Chrysalis In Focus After Results

Capital was seen in focus yesterday with shares rising by 1.26% after revealing that airtime revenues rose by 5% during its first quarter, in line with an improvement in the general advertising market and meeting the group’s expectations (see Rival Radio Groups Report Positive Outlook).

Chrysalis was also seen in the spotlight down 0.51% despite announcing that revenues have jumped by 19% year on year during the five months since September 2003 and forward visibility is continuing to improve.

The group’s chairman, Chris Wright said: “I am extremely pleased with the progress made across all divisions in the first five months of the 2004 financial year and believe that the Chrysalis Group continues to be well placed to maximise its potential within the newly deregulated media environment” (see Rival Radio Groups Report Positive Outlook).

Meanwhile, the newly merged ITV company, which made its debut on the stock exchange earlier this week, saw shares dip by 0.51% to close at 147ź. The broadcaster is understood to be on course to appoint a new chairman next month after narrowing its shortlist of candidates to three or four key figures (see Merged ITV Set To Appoint New Chairman Next Month).

The wider market saw London blue chips edge into positive territory at the close yesterday as investors sought out defensive tobacco and drinks stocks. The FTSE 100 edged up by 0.2% to finish at 4,390.6, but the FTSE 250 dipped by 0.2% to 6,044.3.

The closing prices of media company shares on Tuesday were: