The best performance in yesterday’s media market came from UBC, which saw shares jump 30.63% to close at 34źp, after the company said that it was positive about the future, in spite of the uncertain business environment.
Cordiant issued its second profits warning in three months yesterday and announced further job losses, taking the total number to more than 1,100 (see More Jobs To Go At Cordiant). Shares in the company dropped 5.88% yesterday to finish at 88p.
SMG expanded its outdoor division on Friday with the acquisition of Town & District Posters Limited (see SMG Extends Outdoor Interests). However, shares dropped 3.25% yesterday to close at £1.49, a loss of 5p on the day before.
The closing prices of media company shares yesterday were:
