TVN television faces another good year

22-02-2007, 19:16

Warsaw (Puls Biznesu) – TVN’s results were better than expected. The company forecasts further growth and high dividend. The stock rose.

Warsaw (Puls Biznesu) – TVN’s results were better than expected. The company forecasts further growth and high dividend. The stock rose.

 

TVN had PLN 128.1m (EUR 33m) of net income in the fourth quarter of 2006, or 90 percent more than a year earlier. Sales grew 47 percent to PLN 405.1m. Operating income rose to PLN 134.9m from PLN 90.8 in the fourth quarter of 2005. In 2006, the net income of the media group rose 24 percent to PLN 258m and sales by 35 percent to PLN 1.17 billion. The company’s share in its target group in prime time rose to 30 percent in 2006, up from 27.2 percent a year earlier.

 

TVN stock rose 2.7 percent to PLN 27.11. Investors welcomed the promises to further improve the results this year and to pay out high dividend. Consolidated sales should grow 23-26 percent. TVN wants to pay out PLN 129m of its net income as dividend, or PLN 0.38 a share.

(PLN 1 = EUR 0.258)

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