Cyfrowy Polsat sees strong first quarter gains

By FNE Staff

    Cyfrowy Polsat, Poland's leading DTH provider, posted first quarter gains on the strength of a 28% growth in its subscriber base.

    Cyfrowy Polsat (www.cyfrowypolsat.pl) announced a 35% increase in revenue, to PLN 337 million (76 million Euro) based largely on a 28% increase in subscribers, to 2.8 million. Despite negative foreign currency exchange impact, net profit increased by 14% to PLN 73 million.

    Cyfrowy Polsat trades on the Warsaw Stock Exchange as CPS. Shares rose 8% on the news of its better-than-anticipated results, and were still holding strong by the end of trading on May 14, closing up 2.2%, at 14.42 PLN. A 0.75 PLN dividend was approved.