/KASE, March 12, 09/ - KazMunaiGas Exploration Production (Astana),
a company listed on Kazakhstan Stock Exchange (KASE), provided KASE with
a press release:
Quotation beginning
JSC KazmunaiGas Explroration Production ("KMG EP" or "the Company") has
released today its audited financial results for the year ended December 31,
2008.
- Volume of production, including interests in JV Kazgermunai ("Kazgermunai")
and CCEL ("Karazhanbasmunai"), increased by 12% and amounted to 11.95
million tonnes of oil
- Net profit increased by 54% and amounted to 241.3bn Tenge (US$2,006m) .
This led to the increase of the earnings per share from 2,123 Tenge to 3,257
Tenge (from US$2.89 per one GDR to US$4.51 per one GDR)
- Additional earnings received from the 50% share in Kazgermunai were
58.8bn Tenge (US$488.6m).
- Finance income in 2008 amounted to 45.4 bn Tenge, including income from
the investment in CCEL of 2.9bn Tenge (US$23.7m).
Commenting on the financial results for the year 2008, CEO of the Company
Askar Balzhanov, said:
"2008 was a record year for KMG EP which saw net profit reaching a new height.
This success was the result of the professionalism and dedication of all our
staff and management. KMG EP capitalised on the favourable market conditions in
the earlier part of the year and then dealt rationally with the economic
downturn, whilst still growing our resource base, in the latter part of the
year. Given the current market environment, it may be a challenging year ahead.
However, the foundations that have been built ensure that KMG EP is well placed
to navigate through these uncertain times."
Contact information:
KMG EP, Public Relations (+7 7172 97 7600)
Michael Dorofeyev
E-mail: pr@kmgep.kz
KMG EP, Investor Relations (+7 7172 97 5433)
Asel Kaliyeva
E-mail: ir@kmgep.kz
Pelham PR (+44 203 178 44 18)
Elena Dobson
E-mail: Elena.dobson@pelhampr.com
Quotation end
The full version of the press release is available at the KASE website:
- in Russian and Kazakh at:
http://www.kase.kz/files/emitters/RDGZ/rdgz_reliz_120309.pdf
- in English at:
http://www.kase.kz/files/emitters/RDGZ/rdgz_reliz_120309e.pdf
[2009-03-12]