Interia.pl net profit doubles in Q1 2007

2007-05-10

Interia.pl, an internet portal, has reported that its net profit grew by 99.9% year-on-year in the first quarter of 2007 to PLN 2.32m (€0.61m). In Q1 2006 this figure was PLN 1.16m (€0.31m). Operational profit has also doubled, and revenues came to PLN 13.70m (€3.61m), in contrast to PLN 11.05m (€2.9m) in the first three months of 2006.
The portal has announced that its revenues in 2007 are expected to increase by 30% in contrast with last year’s. The company intends to maintain the profitability level of the first quarter of the year, i.e. 17%.
The portal is thus going to earn revenues of PLN 69m (€18.2m) and make a profit of around PLN 12m (€3.2m) in 2007 as a whole. During the first three months of the year, the company managed to earn almost 20% of the figure predicted for 2007 as a whole and 19% of the expected net profit. The results must, therefore, improve in subsequent quarters for the forecast to come good.
The revenue boost was prompted by an increase in the amount of advertising space sold. In Q1 2007 advertising brought in 74% of the company’s revenues, whereas in the corresponding period of last year this was two percentage points less. Paid services and e-commerce have also played a more prominent part with regard to overall revenues, whereas hosting, website production, communications and mobile services have declined in importance.
The company has stated that it is not considering any acquisitions in the near future and that it is planning to focus on its own projects, chiefly those designed to create communities of users or those involving multimedia. By the end of the second quarter the company plans to have launched two major projects which should increase the portal’s monthly reach, i.e. the number of real users visiting it at least once a month.
Interia.pl insists that it is not looking for a new investor, despite the speculation with regard to the ownership structure changes which started to circulate on the market after the radio station RMF FM, one of the portal’s shareholders, was acquired by the German publisher Bauer.

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