TVP with increase in net profits in Q1

Net profits of state-owned broadcaster Polish Television TVP stood at PLN 114.7 million in the first quarter of the year, an increase of PLN 9.1 million on an annual basis. Besides revenue from sales, commercials and license fee, the firm recorded good financial results thanks to its saving program, the broadcaster informed. In January-March, revenue from license fees was higher than estimated before and amounted to PLN 214.1 million. Operational costs were lower than expected and totaled PLN 349.4 million. "TVP is continuing its multi-directional restructurization regarding costs as well as regarding revenue and optimization of dispensable assets," a press release read.