Sharewatch: Maiden Rises Following Successful Rail Bids
Outdoor advertising specialists Maiden Group performed well last week, rising by a healthy 10.48% to 242˝p as the company announced deals with Network Rail worth £477 Million
The new contracts will see the company take control of 2,000 poster sites at 17 railway stations worth £450 million, while the renewal of a separate five year promotions contract, worth over £27m, will allow the company to manage exhibitions and product sampling opportunities on managed station concourses (see Maiden Clinches £477 Million Rail Contracts).
Elsewhere radio groups GWR and Capital were again centre stage last week, as stockbroker’s added fuel to the rumours surrounding an alleged merger between the two companies. Reports last week suggested that ‘the two companies are far into negotiations’, according to city traders. GWR notched up a 6.23% rise on the back of the speculation, while Capital climbed by 5.98%.
Fellow radio firm Chrysalis also put in a good performance, rising by 2.84% to 190źp following an announcement early last week that like-for-like revenue has increased by 20% as it continues to outperform the rest of the radio sector (see Chrysalis Continues To Outperform Radio Market).
The closing prices of media company shares on Friday were:
