Brief: Kino Polska TV to create write-down of subsidiary

Kino Polska TV SA

20/01/2017 13:10

Jan 20 (Reuters) - Kino Polska TV SA  KPL.WA : 
    * Says it will need to create write-down regarding its 
subsidiary, Cyfrowe Repozytorium Filmowe Sp. z o.o (CRF) 
    * According to management estimations, the write-down will 
lower Kino Polska TV's consolidated result for 2016 by 1.9 
million zlotys ($462,400) 
    * The need for the write-down is due to the fact that the 
Centre Projects Digital Poland has negatively rated an 
application made under the Operational Programme Digital Poland, 
whose indirect beneficiary would be CRF 
    * The participation in the programme was supposed to bring 
revenue and EBIT margin growth for CRF's digitization and 
archiving segment starting from 2017 
 
Source text for Eikon:  ID:nEM2081210  
Further company coverage:  KPL.WA  
 
($1 = 4.1090 zlotys) 
 
 (Gdynia Newsroom) 
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))