Sharewatch: Future Network Boosted By Positive Trading Update

Future Network was the best performer in last week’s media market with shares rising by 19.03% to close at 72˝p after announcing that revenue for the first five months of 2004 is up by 8%, fuelled by growth in Europe and the United States (see UK Lags Behind Europe And US Growth For Future).

Kelvin MacKenzie’s Wireless Group also performed well with stock climbing by 1.09% in week on week analysis to finish at 92˝p on Friday. The radio group revealed last week that second quarter revenues had risen by 36% year on year, while the Euro 2004 championships had boosted its talkSPORT radio station revenues for the quarter by 40%, with a massive 87% increase in June alone (see Euro 2004 Helps Profits Surge By 40% At Wireless Group).

However, Emap proved less fortunate with shares dipping by 2/47% to close at 710p after insisting that it is ‘reasonable’ progress towards its full year goals, with consumer magazine circulation revenues and advertising performing well (see Emap Makes Steady Progress Towards Full Year Targets).

Advertising giant WPP also struggled last week, with stocking falling by 4.68% reports indicated an imminent deal to acquire outdoor specialist Poster Publicity. It is believed that the move will allow WPP to create a new global poster buying entity (see WPP To Create Global Outdoor Buying Specialist).

The closing prices of media company shares on Fridayday were: