Advertising and books tie-in help Agora group to beat Q3 profit predictions

The company's revenues in Q3 increased yoy by 28.3% and totaled zł.248.5 million. The net profit amounted to zł.16.4 million, compared to the zł.9.4 million predicted by analysts. Last year the company closed Q3 with a loss of zł.5.1 million. According to Agora's president Wanda Rapaczyńska, the positive results are due to the company's restructuring process aimed at cost cutting and more favorable conditions on the advertising market. At the beginning of the year Agora's board predicted that the advertising market would grow by 10% in 2004. So far its growth has amounted to 14%. Higher advertising revenues were accompanied by an increase in sales for Gazeta Wyborcza, which grew by 7.7% yoy in September 2004. In June Agora started selling books together with Gazeta Wyborcza and this venture has already yielded revenues of zł.38.6 million and resulted in an operating profit. (Gazeta Wyborcza, November 6-7, p.33, Parkiet, p.7) E.B.