Sharewatch: Positive Results See Aegis Rising

Global advertising group, Aegis, performed admirably last week with shares rising by an impressive 9.77%. The group recently revealed increased revenues for the first six months of 2004, spurred on by a recovery in Europe and strong business wins.

Aegis Group’s revenues now stand at just under £339 million, a rise of 15% on last year, while pre-tax profits from January to June have grown to £294.5 million as a result of the company’s newly adopted global brand strategy (see New Business Wins Spur On Revenues At Aegis).

ITV also revealed an impressive set of results, but received a less favourable response from the stock market with shares dipping by 0.96% in week on week analysis. The newly merged company announced on Thursday that pre-tax profits have jumped up 59% to £132 million in the first half of this year, driven by an improvement in advertising revenue which grew by 4% for the group (see Improved Advertising Revenue Drives ITV Profits Up 59%).

Also falling foul of City traders last week was radio group, UBC Media. Despite the company’s intentions to link with Channel 4 to create a national radio station, the group dropped by 5.15% week on week to close at 23p on Friday.

The closing prices of media company shares on Friday were: