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Continued weaknesses in the advertising market has led ABN Amro to downgrade its 2001 and 2002 earnings per share forecasts for VNU by 4% and 10% respectively. The broker says that visibility for the business information group remains low as advertising in the business magazines sector is still weak. VNU’s US magazine division saw revenues… Continue reading ABN Amro Downgrades VNU Forecasts But Is Positive On Long-Term Future

Late on Friday, following the suspension of trading in its shares and the announcement of its financial results, Future Network revealed the details of its refinancing plan (see Future Shares Remain Suspended As Losses Are Revealed). The group is to issue new shares at 20p each in order to raise £33 million net of expenses.… Continue reading Six For Five Issue To Raise £33m For Troubled Future

European media group Bertelsmann yesterday announced full year results for the period to June 2001 and continues to prepare for its IPO, expected in 2002/2003. Sales were reported to be up 21% to E20 billion and net income was up 35% to E1.5 billion. Operating margins for the group have fallen from 7.5% to 6%,… Continue reading Bertelsmann Still On Track For IPO Despite Fall In Earnings

Shares in Cordiant Communications fell by over 40% this morning following the issue of a profits warning by the marketing and communications agency. After closing at 95½p yesterday, shares in Cordiant had slumped to 56p in opening trade this morning. Cordiant said “Trading conditions in our industry are currently the most difficult experienced in recent… Continue reading Shares Slump As Cordiant Issues Profits Warning

Shares in Future Network remained suspended this afternoon as the group released its delayed interim results. In a statement this afternoon, Future said that shares had been suspended “in order to prevent a false market developing ahead of a significant refinancing announcement”. Details of the refinancing deal are expected ‘shortly’ and shares will remain suspended… Continue reading Future Shares Remain Suspended As Losses Are Revealed

Troubled publisher Future Network has this morning suspended its shares pending a further announcement from the company later today. Shares in Future have dropped dramatically over recent months after reaching highs of 900p during the tech boom last year (see Future Network ‘Pushed Off Course In Bruising Year’). Yesterday Future Shares closed at 24½p. Last… Continue reading Future Suspends Shares Pending Further Announcement

As reported earlier in the week, the radio sector is now also feeling the advertising downturn that is sweeping the media industry, with analysts downgrading their forecasts for Capital Radio accordingly (see Forecasts). GWR Group this morning said that it too has not escaped the downturn in advertising, which has been affecting the sector worldwide… Continue reading GWR ‘Extremely Cautious’ On Advertising Outlook As Revenues Fall 3.5%

Outdoor advertising group, Maiden, has this morning reported a solid performance for the half year, with sales rising by 8.4% to £41.2 million. This demonstrates strong organic growth at the company and substantially outperforms the outdoor market, which saw growth of 3% during the same period. The outdoor sector itself has been the strongest medium… Continue reading Maiden Shows Strong Performance, But Hit By US Tragedy

As reported earlier in the week, the radio sector is now also feeling the advertising downturn that is sweeping the media industry, with analysts downgrading their forecasts for Capital Radio accordingly (see Forecasts). Three radio companies released trading statements this morning: GWR, Capital and Scottish Radio Holdings, and all conveyed a similar message. Commercial radio… Continue reading Insight Analysis: Radio Feels The Effects Of Advertising Downturn

Scottish Radio Holdings (SRH) released a trading statement this morning, forecasting a 3% drop in radio revenues for the year to 30 September 2001. This is an outperformance of the radio market in general, which is expected to fall by an average of around 9% this year. Like GWR, Scottish Radio benefited from the stronger… Continue reading Scottish Radio Outperforms Declining Market