Agora launched another publishing product, which supplements ‘Gazeta’ revenues and could make up for some of the losses after halving newspaper’s copy price. ‘Dekady’ (Decades), which costs PLN 19.9 per copy, illustrates Polish post war history with unique pictures (such as from ‘Nationwide angler conference’ in the ’50-ties) and seems to be well researched quality product.
Separately Agora decided to scrap ‘Wysokie Obroty’ (High Gear) monthly due to unsatisfactory sales levels.
We reiterate our Buy rating for Agora based on expectation of company’s ‘Gazeta’ coming on top of rival newspaper title ‘Dziennik’, supported on constant stream of Agora innovative projects.