Polsat reports lowered net income due to investments


    Commercial Polish television broadcaster Polsat reported net income for the first half of 157.4 million zloty (€40.4 million), down about 10% from the same period in 2006, due to increased investments

    Operating profits grew 15.3% to 134.9 million zloty, while revenue rose by 11% to 420.9 million zloty.

    Polsat invested in broadcast vans equipped with high-definition technology and poured money into hiring new talent to help boost its viewing figures, according to the company's chief shareholder Zygmunt Solorz-Zak.

    Audience share for the first half was 22.4%, edging out rival private broadcaster TVN's with a 21.1% share.

    Polsat's operating margin decreased by nearly 10 percentage points to 42% in the first half, while net margin declined by 10% to 46%.