Financial results of Mangistaumunaigas OJSC (Kazakhstan) for the first 6 months of 2004

/IRBIS, Galina Tsalyuk, September 10, 04/ - Mangistaumunaigas OJSC (Aktau), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with financial statements for the first 6 months of 2004. The following indicators are results of the company's financial and economic activity for the period, based upon its information (in th. KZT): ---------------------------------------------------------------- As of As of Indicator Jul 01, 03 Jul 01, 04 Change,% ---------------------------- ----------- ----------- -------- Authorized capital (paid-up) 10,892,027 10,892,027 0.0 Shareholders' equity 63,773,489 80,316,016 +25.9 Total assets 118,108,667 154,785,978 +31.1 Net working capital 22,623,321 33,057,931 +46.1 Accounts receivable (net) 41,134,637 49,634,464 +20.7 Total liabilities 51,249,023 70,012,346 +36.6 Accounts payable 41,728,734 58,271,222 +39.6 Sales volume 81,955,073 91,160,848 +11.2 Cost of goods sold 34,738,180 40,317,933 +16.1 Net income for the period 17,989,943 21,417,501 +19.1 Book value per share 5,855.06 7,373.84 +25.9 ---------------------------------------------------------------- Relative to similar period of 2003 there is increase of: - shareholders' equity - by 16.5 bn as the result of increase of retained earnings - by 16.9 bn, and fall of additional un-paid capital - 301.4 m and reserve capital - 26.0 m; - assets - by 36.7 bn, including depreciated cost of intangible assets - 6.6 bn; fixed assets - 2.5 bn, accounts receivables (net) - 8.5 bn; cash - 19.3 bn, and decrease of other assets - 191.4 m; - liabilities - 18.8 bn, of which accounts payable - 16.5 m; land regeneration reserves - 1.7 bn, and other liabilities - 624.2 m; - sales volume - 9.2 bn; - cost of goods sold - by - 5.6 bn. Net income of the Company in first 6 months of 2004 increased by 3.4 bn relative to similar period of 2003. Company's primary activities: oil and gas production and transportation, exploration and development of oil fields. [2004-09-10]