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Market and Company News
24.05.2000 00:00

Results of "Kazakhtelecom" (Kazakhstan) in the first quarter 2000

/KASE, May 24, 00, Galina Chudinova, Galina Tsalyuk/ - According to listing requirements, "Kazakhtelecom" (Almaty, official list of securities, category "A) provided Kazakhstan Stock Exchange (KASE) with its consolidated financial statements for the first quarter 2000: balance sheet and income statement.

Following are the results of the company in the first quarter 2000 by the data of the issuer (in th. KZT):

Ratio As ofApril 1 '99 As ofApril 1 '00 Change,%

----------------------  ----------------    ----------------    ------------
Authorized capital            12,136,529          12,136,529               0
Shareholders' equity          37,295,347          36,362,504            -2.5
Total assets                  56,370,289          58,777,703            +4.3
Net working capital            4,063,537           2,073,102           -49.0
Accounts receivable            9,853,714           7,143,429           -27.5
Liabilities                   19,074,942          22,415,199           +17.5
Accounts payable               6,261,798           5,693,579            -9.1
Sales (services offered)       5,885,938           8,574,679           +45.7
Cost of goods sold
(services offered)             3,372,675           4,417,571           +31.0
Net income (loss)              1,264,836           2,744,669          +117.0
Book value of a share, KZT      3,072.98            2,996.12            -2.5
----------------------  ----------------    ----------------    ------------

Compared to the first quarter of 1999:

  • shareholders' equity fell by KZT932.84 mln, or 2.5% (decline in additional unpaid capital - by KZT1.23 bln was partly compensated by growth in additional paid capital on 125.34 mln and total undistributed profit by 175.40 mln);
  • liabilities rose by KZT3.34 bln, or 17.5%;
  • assets grew by KZT2.41 bln, or 4.3%.

Sales (services offered) increased by KZT2.69 bln, or 45.7% relative to the first quarter 1999, cost of goods and services sold increased by KZT1.04 bln, or 31.0%. Total expenses for the period declined by KZT429.97 mln, or 25.4%.

As a result, net income of "Kazakhtelecom", by results for the reported period, totaled KZT2.74 bln that is by 1.48 bln or 117% higher than year before.