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The Warsaw Voice » Business » February 20, 2008
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Liberty Reaps Profits
February 20, 2008   
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Liberty Group (LG) estimates a net profit of zl.650,000 last year on revenues of about zl.2.6 million. The Warsaw-based consultancy firm is listed on the Warsaw Stock Exchange's (WSE) NewConnect market.

This year, the company intends to press ahead with new clients' stock offerings on the WSE in general and NewConnect in particular. LG provides consultancy services to marketing and automotive firms seeking to commence trading on NewConnect in 2008. The company has also finalized long-term PR consultancy contracts with new clients from a range of industries including manufacturing, legal services and financial services.

The public relations market has been booming in Poland over the past couple of years. Dozens of new players have been entering the market annually and employment has been increasing apace.

The PR market grew by around 25 percent annually during 2005, 2006 and 2007. This compares with 10 percent or thereabouts for the advertising market. Liberty Group is becoming a leading player in the consolidation process of Poland's PR market, valued at zl.350 million at the end of last year, according to preliminary estimates from the Polish Public Relations Association (PSPR).

These impressive results may be partially explained by the fact that firms have been steadily diverting expenditure from advertising to public relations.

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