Agora relies on Gazeta Wyborcza while other ventures return losses

Leading media group Agora recorded an 11.5% yoy increase in consolidated revenues in the first half of this year, but Gazeta Wyborcza, Poland's largest newspaper, remains the group's only profitable business. Meanwhile, Agora's magazine, radio and outdoor advertising subsidiaries have continued to mount losses in the first six months of the year. "Agora's [overall] results are better than expected. Gazeta Wyborcza is the company's sole pulling engine, while the other ventures are in need of deep sales and cost restructuring," said DM Millenium brokerage analyst Katarzyna Perzak. In the second quarter of this year, Agora recorded a net profit of zł.21.1 million, a 62.3% increase over the previous year. (Puls Biznesu, p.9) T.J.