Watching its profits

The biggest private TV broadcaster, TVN Group, earned zł.353.82 in consolidated revenues and a zł.5.01 million net profit in Q3, compared with revenues of zł.296.5 million and a zł.78.33 million loss last year.

The Q1-Q3 period brought the firm zł.1.305 billion in consolidated revenues and a zł.276 million net profit, compared with zł.1.033.1 billion and zł.107.46 million in 2007, respectively.

TVN's channels collectively held a 25.8 percent share of the national audience, up from 24.6 in Q3 2007. The group's share in the TV advertising market grew to 32.6 percent, up almost two percent from last year. The entire TV advertising market in Poland grew by 17 percent y/y over the last three quarters, according to the company's estimates.

TVN also raised its revenue growth projection for 2008 from 18-20 to 20-22 percent. It expects its EBITDA margin to reach 37 percent, as compared with 35-37 last year.

The company decreased its subscription forecast for the 'n' digital platform, in which it holds a 25 percent stake. The number of subscribers expected at the end of the year fell from 520,000 to 500,000.