Hoga may revise downward its 2003 forecasts

Hoga, a stock-listed IT company, will most likely decide to change its full year forecasts and post revenues of around zł. 10.5 million. A large part of this sum is thanks to a single contract worth zł. 4 million. "We will not have any more such large orders this year," said Hoga board member Bogusław Majka. However, the company is still trying to change its profile from delivering hardware to the more profitable area of selling IT products. According to Majka, the shape of company's full year result will depend on how many, and the value of contracts it signs in November. At best, the enterprise might end the year just about in the black. After the first six months of 2003, Hoga recorded a loss of over zł. 700,000. In March 2002, the company decided to leave the Internet portal activity and transform itself into IT company. "We decided that there was no use in trying to compete with market leaders such as WP, Onet and Interia," claims Majka. Thanks to this move, the company won the Rising Star award of The Central European Technology Fast 50. (Puls Biznesu, p. 8) M.M.