Publisher of Polish newspaper Gazeta Wyborcza, Agora, recorded a net profit of zł.20.1 million in Q2 2010.

The publisher made a clear profit of zł.41.9 million for the first half of the year. That's more than three times higher than a year ago. The result exceeded analysts' expectations, which were for a Q2 net profit of zł.15 million.

The company was able to improve its profitability, despite the economic slowdown and a sluggish advertising market, because it decreased its costs by 11.4 percent.

The revenue of Gazeta Wyborcza fell by 5.5 percent in Q2, to zł.281 million.

Poland AM