Grupa Onet and Onet.pl achieve cash saving through fusion

The fusion is to save both companies over zl.1 million. The new company's management expects its revenues from internet advertising to rise by several dozen percent in 2006. Currently, revenues from advertising constitute some 75% of all Grupa Onet's revenues. "I expect that the growth dynamics of internet advertising will be higher in 2006 than the growth dynamics of the advertising sector as a whole. I believe that it will grow by several dozen percent," said Pawel Kosmala, Grupa Onet president. Onet.pl representatives claim that the company's current share of the internet advertising market is about 40% and its 2006 plans envisage keeping the share at a similar level. Kosmala stated also that the Group's Q4 2005 results could even be higher than those for Q1, which were zl.16.8 million. "We are happy with the results, they are indeed very good. We are operating in a growing market, we are a leading company and this will be reflected in our Q4 results," said Kosmala. The decision to join the companies will be made during Grupa Onet's shareholders' meeting on 31 January. The Group is also about to finalize a deal to sell the publisher Wydawnictwa Pascal for about zl.18 million. After three quarters of 2005, Grupa Onet posted a zl.12.8 million net profit on revenues of zl.57.82 million. (Parkiet, 21-22 January, p. 5) D.W.