Sharewatch: DMGT Rises Following Optimistic Results

Newspaper giant Daily Mail & General Trust enjoyed a good day’s trading yesterday, seeing a rise of 1.45% to close at 700p following interim results reporting a strong half year. The company reported a pre-tax profit of £107.3 million for the six months to 4 April, an increase of 29% compared with the same period last year (see DMGT Sees Revenues Rise In Positive First Half).

Advertising giant WPP also climbed, rising by 0.09% to 539˝p as the company’s chief executive Sir Martin Sorrell predicted an upturn in the industry. WPP also revealed its annual report, detailing a 5.1% increase in revenue to £4.1 billion (see Sorrell Positive On Global Advertising Recovery).

Internet and cable provider Telewest remained unchanged yesterday as the company emerged as the cheapest option for broadband customers. New research from Ofcom recently revealed Britain has almost 4 million domestic high-speed internet connections, a figure which equates to more than 40,000 people switching to broadband each week (see Broadband Boom Hits 4 Million UK Households).

The FTSE 100 managed a slight increase yesterday, rising by 0.3% to 4,435.4 while the FTSE 250 dipped slightly to 6,044.9.

The closing prices of media company shares on Thursday were:

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