Agora CEO Mrs. Rapaczynska said in an interview with ‘Gazeta Prawna’ that management focus would gradually shift from defending ‘Gazeta’ market position to developing other business segments such as outdoor advertising, internet and free sheets, in order increase the their revenue share from less than 30% currently to 50%, over three years time horizon.
Our view: We view positively the shift in focus to underdeveloped, fast growing business segments, away from the costly battle with ‘Dziennik’. We reiterate our Buy rating for the stock.