Sharewatch: Ulster TV Leads In Difficult Week

In a week of tentative trading following the Madrid terror attacks, Ulster TV made good headway, pushing its share price up by 2.51% to 429˝p in week on week analysis. The company recently announced a significant 10% increase in revenues in the first quarter of 2004, ahead of an ITV growth forecast of 8% by analysts at Merrill Lynch (see Ulster TV Sees Airtime Revenues Up 10% In Q1 2004).

The Daily Mail & General Trust also made a climb, rising by 0.97% on last week to close at 676˝p. The group announced last week that national newspaper advertising revenues have begun to increase, although it remains too early to call a turnaround in the market (see DMGT Sees Good First Half, But Markets Still Volatile).

Last week also saw Kelvin MacKenzie’s Wireless Group instigate legal proceedings against the radio audience measurement body, RAJAR. Wireless Group saw shares remain unchanged at 110p, despite claiming damages of more than £66 million allegedly caused by “flaws” in RAJAR’s research (see MacKenzie To Claim £66 Million In Damages From RAJAR).

The closing prices of media company shares on Friday were: