Grupa TVN, Poland's only listed television broadcaster, has announced a zł.242.7 million net profit for Q4 2009, almost tripling its Q3 result.

Analysts had predicted a profit of around zł.80.1 million.

The broadcaster explained, however, that because it had taken control of ITI Neovision, the owner and operator of the "n" digital platform, the results of the fourth quarter of 2009 were not fully comparable y/y.

“Our results for the three months ending December 31, 2009, included all of ITI Neovision's financial results for the period from October 1, 2009, to December 31, 2009. Results for the corresponding period of 2008 include our share of ITI Neovision's net loss for the period from October 1, 2008, to December 31, 2008," the company said in a statement.

“In 2009, we successfully executed our strategic plan and strengthened our position as the largest
integrated multimedia group in Poland,” Markus Tellenbach, president of TVN's board, was quoted as saying.

Sales rose 15 percent to zł.680.4 million, aided by zł.129.9 million in revenues from “n.” (RG)