TVN third-quarter profits beat expectations

Polish broadcast group TVN has posted a net profit of PLN61 million (€16 million) for the third quarter, compared with a net profit of PLN58.1 million a year earlier, thanks to continued strong growth from its pay-TV activities and a recovery in the advertising market.

Revenues for the quarter were PLN533.8 million, up 25% on the year from PLN427.9 million, beating analysts expectations.

TVN now expects post-paid pay TV subscribers to its ‘n’ platform to reach 800,000 by year-end, down from earlier expectations of 870,000. The company had 739,000 subs at the end of the quarter, up by 9,000 on the second quarter.