OneMonday shares up on positive outlook
LONDON - The badly hit public relations market received some good news with positive trading results from OneMonday, the group that owns the Text 100 PR brand, boosting its share price by 9%.
This afternoon, OneMonday was trading up 8.96% at 36.5p after issuing a statement saying that OneMonday was trading in line with expectations.
OneMonday said that while the market for public relations remained depressed, there were signs of improvement.
"That said, technology-specialist PR in the group's major markets of the US and Europe has suffered no further deterioration in recent months and, at a group level, fee income is stable and showing some signs of shading upwards," the statement said.
It is the second time in recent weeks that OneMonday's share price has recorded significant gains -- the first time was in June when it announced it was to change its name in exchange for a $5m (£3.2m) pay-off from PricewaterhouseCoopers, which has renamed its consulting arm Monday.
OneMonday said that all of its PR brands, including Text 100, August.One, Bite Communications and Joe Public Relations are trading profitably and it remains well placed to benefit from any upturn.
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