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Cyfrowy Polsat swung to larger than seen Q3 net
November 14, 2012 / 5:42 AM / 5 years ago

Cyfrowy Polsat swung to larger than seen Q3 net

WARSAW, Nov 14 (Reuters) - Cyfrowy Polsat, Poland’s biggest media group, swung to a bigger than expected net profit of 172 million zlotys ($52.4 million) in the third quarter as a stronger zloty helped outweigh the costs of its euro debt, it said on Wendesday.

Analysts saw the group booking 132 million in the bottom line, which varies quarter-by-quarter on changes in the value of its 350 million euro debt Cyfrowy took on for the purchase of TV Polsat, one of the country’s top two private broadcasters.

Sales grew 4.7 percent to 644.5 million zlotys, with growth at Poland’s top pay-TV unit outpacing a drop in advertising revenue at Polsat. The market expected the figure at 640 million. ($1 = 3.2857 Polish zlotys) (Reporting by Adrian Krajewski)

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