Agora's H1 profits are good reading for shareholders

The result is much higher than in 2004, but still a year ago the situation on the advertising market was worse than it is now. Additionally, in 2004 the company had to pay the costs of the firm's restructuring. Analysts say that this year's results agree with their expectations. The success is a result of the improving situation on the market after years of stagnation. In H1 this year it grew by 10%. The main source of income for Agora is Gazeta Wyborcza (nearly zł.486 million in H1), as well as new publishing projects such as a collection of dictionaries (zł.112 million). The company's deputy president, Zbigniew Bąk, believes that optimism concerning Agora's financial results for the second half of the year would be too early. The management board also announced that on August 18 the company will start the process of buying back its shares. Agora wants to devote zł.120 million to that purpose. (Gazeta Wyborcza, p. 24) A.F.