Hoop's half-year operating profit slumps by almost 20%

Non-alcoholic beverage producer Hoop has recorded an approximate 20% drop in operating profit and a 14% increase in net profit for the first half of 2003, while in comparison to the same period last year, it recorded a 3% growth in revenues. "Results for the period are worse than I expected, but I have not changed the full year forecast for the firm. I believe that Hoop will produce almost zł. 20 million in net profit, which will be zł. 4 million more than in 2002," said Radosław Solan, an analyst with BDM PKO BP. He stressed that the results were reduced because of zł. 3.6 million in additional marketing costs and zł. 4.8 million relating to exchange rate differences. Analysts were negatively surprised by the lower than expected net revenue growth, especially after the recent launching of new advertising campaigns. "Sales should reach about zł. 400 million in 2003, which is zł. 50 million more than in 2002," said Hoop management advisor Robert Niczewski. On Thursday, the company will begin offering its shares to investors. (Parkiet, p. 4) M.M.