Sharewatch: Ulster Boosted By Strong Financial Results

Ulster TV was one of the few stocks to rise in yesterday’s media market, climbing 2.98% following its financial results. Revenues were up by 2.1% on last year and the group expects television advertising revenues to rise by a further 10% in the first quarter of 2004 (see Ulster TV Sees Airtime Revenues Up 10% In Q1 2004).

Meanwhile, Aegis suffered in a poor day of trading with shares falling by 2.76% to close at 96žp despite posting a 12.7% rise in underlying pre-tax profits for 2003 (see Aegis Profits Jump 12.7% As Ad Recovery Builds).

The downturn in trading also hit United Business Media, pushing the company down 5.58% to 491p.

Fears of global terrorism in the wake of the Madrid bombings fueled trading in defensive stocks yesterday, causing the FTSE 100 to dip 1.2% to 4,412.9 while the FTSE 250 lost 1.4%, stalling at 6,173.3.

The closing prices of media company shares on Monday were: