Net profit of Kazakhstan's state oil company grew to $850 m. in 2004

/REUTERS, Almaty, July 11, 05/ - Net profit of Kazmunaygas Kazakhstan's oil and gas company in year 2004 grew to KZT115.5 bn. ($850 m. at average annual rate) from KZT78.3 bn. one year before, according to company's financial statement. Consolidated balance sheet and income statement of Kazmunaygas were published on Saturday in "Kazakhstanskaya pravda". Before the company estimated its profit for year 2004 at KZT78.4 bn. Kazmunaygas is one of biggest oil producers in Kazakhstan. The company comprises oil- and gas transporting systems of the country. Company's profit from goods and services sale in year 2004 grew to KZT662.5 bn. from KZT478.6 bn. in 2003, and cost of goods sold grew to KZT299.6 bn. from KZT231.3 bn. (Average annual rate of dollar in year 2004 - KZT135.92 per $1) [2005-07-11]