Results of JSC "Borly" (Kazakhstan) in the third quarter of 1999

/KASE, Dec.01, 99, Galina Chudinova, Galina Tsaluk/ - According to the listing requirements JSC "BORLY" (Karagandy, official list of securities, category "B") provided Kazakhstan Stock Exchange (KASE) with financial reports for October 01, 99: balance and income statement. Following are the results of the emitter for the first half of 1999. All figures are given in tenge as against to the first half year of 1999. On July 01, On October, 01 Increase / Indicator 1998, '000 1999, '000 decrease, % ---------------------------- -------------- -------------- ------------ Authorized paid-up capital 694,947 694,947 0 Shareholders equity 1,665,518 1,666,909 +0.1 Total assets 3,863,031 4,158,610 +7.7 Net working capital 384,419 399,745 +4.0 Accounts receivable 2,386,454 2,643,923 +10.8 Accounts payable 2,197,513 2,491,691 +13.4 Volume of sales (services offered) 1,219,495 1,806,588 +48.1 Cost of goods sold (services offered) 690,660 1,021,004 +47.8 Net income (loss) (8,623) (7,232) +16.1 ---------------------------- -------------- -------------- ------------ There were no changes in the company's authorized paid-up capital. Increase in the shareholders equity by 1.39 million or 80.6% was stipulated by increase in the non distributed income. The book value per share increased by 2.00 tenge to 2,398.61 tenge per share. This was caused by increase in the shareholders equity at the same amount of the shares. Current assets increased by 309.50 million or 12.0%, that was stipulated by increase in: - accounts receivable - by 257.47 million; - inventory holdings - by 55.73 million; at the cash reduction by 3.70 million. Long-term assets decreased by 13.92 million or by 1.1%, including decrease in: - intangible assets - by 0.05 million; - deferrals - by 0.22 million; - depreciated cost of fixed assets - by 14.19 million. at increase in incompleted construction - by 0.47 million. As a result the total assets increase made 295.58 million or 7.7%. The company has not the long-term liabilities. Current liabilities increased by 294.18 million or by 13.4% in result of increase in short-term accounts payable. Volume of sales amounted to 587.09 million, that is 48.1% from the half year volume. Cost of goods sold was 330.34 million, total expenses made 289.26 million, income from the non operating activity made 79.69 million. In the result the net income (after deduction of taxes) made 1.39 million. Greatest volume of sales of the current year - 704,40 million was achieved in the I quarter at the net income of 1.02 million. In the II quarter the sales decreased by 26.95 to 515.10 millions caused the loss to the sum of 9.65 million. In the III quarter sales were by 71.99 million or 14.0% more than in the II quarter, but by 117.30 million or 16.7% less, than in the first quarter.