TVN posts high profits and increases audience share

TVN generated revenues of zł.860 million, which was a 20% increase compared to 2004. Meanwhile, the TV advertising market grew over the same period grew by only 12%. The company's net profit amounted to zł.209 million, which is a growth of 7%. "This was a good year in terms of financial issues. We have also managed to increase our ratings share in our target group and introduce new programs," said Piotr Walter, TVN's president. Despite the positive results, TVN's share price on the Warsaw Stock Exchange fell yesterday by 3.1% to zł.91.50. The management of TVN expects revenues to grow this year by some 16-18%, which is still more than the value of the TV advertising market which is to maintain its 12% growth rate in 2006. (Puls Biznesu, p. 8) A.K.