Web Media Group Revenues Double in First Quarter

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The revenues of Web Media Group almost doubled in the first quarter of the year reaching 126,000 leva from 64,000 leva a year ago, the company’s non-consolidated financial report published by BSE-Sofia shows.

Almost the whole revenue growth is due to higher income from services which increased from 59,000 leva to 120,000 leva. Costs were also up from 90,000 leva in the first quarter of 2006 to 132,000 leva in the same quarter this year.

The loss of the internet company shrank to 6,000 leva from 26,000 leva a year earlier.

Web Media Group has a core capital of 1.42 mln leva and its own capital amounts to 1.49 mln leva.

A total of 400 shares on this position changed hands today down 0.5% to 2.18 leva/share. In the last year Web Media Group’s stock has gained nearly 126%.

On 8 March 2007 Web Media Group launched its new product – www.vsi4ko.bg, which allows users to publish and search free ads in all categories. The site will also offer paid options which will allow users to position and prioritize the ads.

Currently Web Media Group owns the websites news.bg, finance.news.bg, money.bg and topsport.bg.

The company announced it signed two important contracts on 1 March – a 1-year contract with Eurofootball and a contract with Zagorka AD, which is valid until the end of this year.

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