Sharewatch: DMGT Rises Ahead Of Positive Results

Newspaper giant Daily Mail & General Trust saw its stock price climb yesterday, adding 0.62% to close at 725p ahead of positive final results unveiled this morning.

The publishing group announced adjusted profit before tax of £234 million, an increase of 26% compared with the equivalent figure for last year. The group cites excellent growth in its national newspaper, exhibition and business to business information divisions, as well as an improved performance by its Euromoney Institutional Investor operations.

Elsewhere, Reed Elsevier enjoyed a rise of 1.46% to 487˝p ahead of a trading statement this morning which confirmed it is on track to deliver mid to high single digit adjusted earnings this year.

Satellite broadcaster BSkyB also saw an increase, rising by 0.85% to 562˝p as investors were given a chance to study the company’s winter schedule for flagship entertainment channel, Sky One (see Sky One Unveils Dramatic Winter Schedule).

The FTSE 100 went some way to regain lost ground yesterday, adding 32.5 points to close up at 4,735.7. Elsewhere the FTSE 250 added 16.7 points, giving a closing total of 6,594.1.

The closing prices of media company shares on Wednesday were: