Launch of Fakt daily dented ASP's 2003 results

Axel Springer Polska (ASP), the publisher of Newsweek and Fakt, recorded a net loss of zł.42.27 million in 2003 as compared to a zł.500,000 loss a year earlier. ASP representatives claim that the loss is a result of the costly launching of the Fakt national daily towards the end of last year. Company directors remain optimistic about the financial prospects for the daily. "Its economic results are exceeding our initial projections," said ASP president Wiesław Podkański. The revenues of the publisher last year amounted to zł.287.91 million and were 11% higher than those recorded in 2002. Out of this sum, zł.94.6 million were revenues from sold advertisements, down 2.2% from the previous year. (Puls Biznesu, p. 8) A.K.