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.