LONDON (ShareCast) - (ShareCast News) - Shares in music company One Media IP fell after the company posted a dip in revenue to £1.492m, compared with £1.487m from last year.
Shares in the AIM listed stock, which handles content rights for music, video and other media, were down by 2.82% to 8.26p at 1043 BST.

The online music company's profits fell from £0.27m to £0.35m as it declared a 0.071p dividend.

One Media, which receives most of its subscriptions in US dollars, said exchange rates had not been favourable.

Chief executive Michael Infante said he was confident the company was performing well despite a shift in consumer buying habits.

Panmure analyst Peter Ashworth kept its price target at 'buy' and retained a target price of 20p.

Ashworth forecast full year revenues to be up from £2.6m to £3m, and pretax profit of £0.6m.

"The shares have endured a period of weakness over the last year, reflecting forecast reductions and some uncertainty about the industry outlook, in general, given the structural sector changes underway," Ashworth said in a note.

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