Agora's loss smaller than expected

Agora Group, one of Polish largest media holdings, published its latests operational results on Thursday, with a PLN 1 million loss in the second quarter of 2014. Agora Group ended last year's second quarter with a result PLN 0.3 million worse. Analysts surveyed by the Polish Press Agency expected much bigger loses, estimated at PLN 4.1 million. Agora's operating profit in Q2 2014 aggregated to PLN 270,8 million with PLN 272 million a year before and were close to average estimates, which suggested a PLN 262 million profit. In the first half of 2014 Agora noted PLN 524.8 million sales revenue, PLN 9.6 million EBIT loss, PLN 38.3 million EBITDA and  PLN 10.6 million netto loss. Agora Group is the owner of the Gazeta Wyborcza daily, "Helios" cinemas and 29 radio stations including TOK FM, Rock Radio and Radio Złote Przeboje.