Sharewatch: Ulster TV Dips Despite Positive Forecasts

Irish broadcaster Ulster TV put in a disappointing performance in week on week analysis. Shares slipped by 3.90% to rest at 431˝p ahead of an announcement by the company predicting strong performance for the coming year.

According to John McGuckian, chairman of the ITV-owned company, advertising revenue in the first six months of the current year is expected to increase by 16% compared to 3.5% for ITV as a whole (see Ulster TV Revenue Set To Grow By 16%).

Elsewhere, publisher Highbury House rose by 5.26% after announcing profits significantly ahead of last year. The company cited recent acquisitions and improved performance from its business magazine sector for the success (see Highbury House Reaps Benefits of 2003 Acquisitions).

Advertising giant Aegis also enjoyed a good week, adding 3.22% to its share price despite a revolt by shareholders on Wednesday which saw remuneration packages for the company’s executives being rejected. The deal would have seen chief executive Doug Flynn receive a £2.35 million pay-off (see Aegis Boss Has Pay-Off Turned Down By Shareholders).

The closing prices of media company shares on Friday were:

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