WP bounces back from the brink with H1 profits

Even though the sum is not high, at zł.0.9 million, it is still a major coup for the company as in the same period of 2004 the company had a loss of zł.5.4 million. Last year WP declared itself bankrupt and this improved its financial situation. WP's EBITDA has also increased; in the first six months of the year it was zł.2.3 million, whereas in the same period of 2004 it was in negative figures at -zł.6.1 million. "We've managed to stabilize our costs, revenues are growing, and as a result we made a profit," said Maciej Grabski, one of WP's shareholders. In Q2 2005 the company's revenues increased by 130%, which was twice as fast as the online advertising market. According to Grabski, this gives WP a 25% share in the market in the first half of 2005. WP plans to close 2005 with a positive net result, and to increase its share in the advertising market to 30% by the middle of 2006. (Puls Biznesu, p. 7) A.F.