Sharewatch: BSkyB Dips Ahead Of Positive Financial Results
Satellite superpower BSkyB saw its share price dip by 0.33% yesterday to close at 602p ahead of publication of the company’s full year results today. The figures reveal a healthy performance for the broadcaster, adding 81,000 new subscribers from last quarter and achieving a 15% boost to total revenues.
The company also outlined its future strategy, setting subscription targets and outlining an investment plan to strengthen infrastructure and sustain growth. The move follows criticism of Sky’s newly installed chairman, James Murdoch, by shareholders for failing to adequately plan for the company’s long-term future.
Elsewhere in the television market, the UK’s largest commercial broadcaster ITV suffered a 1.67% fall in share price to close at 103p. Yesterday saw the company bolster its advertiser relationships team with two key appointments, a move designed to improve the company’s image ahead of plans for a major client marketing drive (see ITV Raids Agencies To Bolster Advertiser Relationships Team).
Cross-media firm Emap was also seen in a dim light yesterday, with a 0.07% blip in share price occurring on the day the company announced the appointment of Gary Hughes as chairman of its digital radio and television division. Hughes will be charged with developing Emap’s cross-media strategies, maximising on its operations in all areas of UK media (see Hughes Appointed Chairman Of Emap Broadcast Division).
The FTSE 100 crept into positive growth yesterday, rising by 0.3% to 4,429.7. The FTSE 250 also rose, climbing by 0.2% to close at 6,026.6 as several city banks prepared to release their interim profits.
The closing prices of media company shares on Tuesday were:
