News Parkiet

Equity market

Cost-cutting provides

higher operating margins

Polish corporations are once again showing higher operating income after a round of cost-cutting over the last two years. Aggregate operating earning of 105 Polish firms, which published their financials for 2003 totaled 5.15 billion zloty, up 35 percent from the year ago.

Energy

Yukos shareholders offer stock to free ex-CEO

Shareholders controlling Russia?s largest oil company Yukos have offered stock worth 14.6 billion dollars in exchange for the release of Yukos? former chief, Mikhail Khodorkovsky. Mr. Khodorkovsky is awaiting trial after being arrested and charged with fraud and tax evasion in October of last year.

Media

Agora posts 4Q loss on higher costs

Agora newspaper publisher reported its second consecutive quarterly loss due to higher spending to promote its flagship daily "Gazeta Wyborcza" following market entry of "Fakt", Axel Springer?s new Polish tabloid. Agora, which has roots in 1980?s underground publishing, posted net loss of 200.000 zloty. Quarterly sales were up 2 percent to PLN 233.6 million. The group expects ?single-digit? increase in sales this year, Agora?s CEO Wanda Rapaczynski said yesterday.

Food industry

Beverage sales up in 2003

Consumption of non-alcoholic drinks grew over 20 percent to a total of 2.74 hectoliters last year, ACNielsen said. Overall sales were up 16 percent to one billion US dollars (3.88 billion zloty). Coca-Cola?s local subsidiary had 25.5 percent market share of carbonated soft drinks, ahead of Pepsico?s 13.3 percent. Publicly traded Polish company Hoop S.A. took the lead as the top supplier of non-carbonated beverage, with 34 percent market share.

Information Technology

S4E turns profitable, sees higher sales in 2004

Mass storage products distributor S4E plans to increase its sales 60 percent to as much as 12 million zloty ($3.1 million) this year, publicly traded venture capital fund MCI Management said on Monday. MCI owns 94 percent of Wrocław-based S4E.