Shrine-Side Advertising issues profit warning following celeb death downturn
Shrine Side Advertising, the company that sells advertising space alongside high-profile floral tributes, has issued a profit warning after a slowdown in celebrity deaths. Markets reacted swiftly to the announcement as shares in the firm closed down 11.2p at 215.2p, almost 50% off its March 2009 ‘Jade Goody’ peak of 425p.
Analysts have revised their forecasts for the company after it found itself unable to promote global brands to TV audiences as the number of incidents of emotional incontinence dwindled. This meant fewer TV reporters were able to do pieces to camera next to floral tributes, which in turn hit Shrine-Side Advertising’s revenue streams.
‘It’s been a tough year,’ said CEO Malkie Murdoch. ‘Celebs just aren’t dying as much as they used to. Still, if Mrs Thatcher keels over and the deal with Unigate goes through, we’ll really be laughing.’
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Posted: Feb 10th, 2011 by ronseal
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