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Media Corporation

  • BY: Andrew Hore |
  • POSTED: 23/09/2008 |

Media Corporation says that its full year figures will be below expectations.

Analysts were expecting a £170,000 loss.

Even before the announcement Media Corp shares had fallen by 0.1p to 1.8p.

The company’s advertising network has performed strongly in the year to September 2008 and its revenues will be 39% higher at £2.5m. That will be more than offset by a slump in turnover and profits from the internet publishing division. Problems with Google, bad debts and adverse foreign exchange movements all hampered its progress.

There should still be £4m in the bank at the end of September.

Media Corp recently appointed Daniel Stewart as its broker and nominated adviser.

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