March 16, 2017 / 10:53 AM / 5 months ago

UPDATE 1-Cyfrowy Polsat's 2016 profit beats forecasts at 1.04 bln zlotys

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March 16 (Reuters) - Poland's media group Cyfrowy Polsat SA :

* Made net profit in 2016 of 1.041 billion zlotys ($259 mln), compares with 0.97 billion forecast by analysts in Reuters poll and net profit of 1.16 billion zlotys in 2015.

* Fourth-quarter net profit 350 mln zlotys, versus 291 mln seen by analysts

* Says 2016 revenue at 9.73 bln zlotys versus 9.82 bln in 2015

* Cyfrowy says in presentation published on Thursday that its investment outlays in 2017 will not exceed 10 percent of revenue

* The company also targets free cash flow in 2017 of not lower than the 1.557 billion zlotys generated last year

* Cyfrowy wants to maintain its 23-25 percent share in television viewing and keep the pace of its advertisement revenue growth at a level not lower than the growth rate of the whole television advertisement market

* Link to presentation bit.ly/2mvhtiY Source text for Eikon: Further company coverage: ($1 = 4.0173 zlotys) (Reporting by Marcin Goettig; Editing by Greg Mahlich)

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