Agora's Q1 excellent results far exceed all expectations

The results surpassed analysts' expectations, most of whom predicted a profit of around zł.25 million on revenues of zł.283 million. "Three factors determined such a high growth: a good situation on the advertising market, increased scale of operation and the lowering of costs, especially overhead costs, due to restructuring," stated Agora's president Wanda Rapaczyńska. The series of books and encyclopedias which Agora published generated revenues of zł.63 million. Moreover, analysts also point to the fact that thanks to Agora's low operating costs, the fast growth of the advertising market translates directly into the company's profitability. Investors welcomed Agora's results and the company's shares rose by 5% on the Warsaw Stock Exchange. (Puls Biznesu, p. 11) E.B.