Results of OJSC "Bayan-Sulu" (Kazakhstan) in I quarter of 2000

/KASE, June 6, 00, Galina Chudinova, Galina Tsalyuk/ - According to listing requirements, OJSC "Bayan-Sulu" (Kostanai, official list of securities, category "B") provided Kazakhstan stock exchange (KASE) with its financial statements for the I quarter of 2000: balance sheet and income statement. Following are the results of the issuer in the I quarter of 2000 (in th. KZT): Ratio As of Apr.1 '99 As of Apr. 1 '00 Change,% ------------------------------- --------------- ---------------- -------- Authorized capital (announced) 1,000,000 1,000,000 0 Authorized capital (paid) 553,172 553,172 0 Shareholders' equity 559,660 554,978 -0.8 Total assets 753,285 803,502 +6.7 Net working capital 240,549 198,451 -17.5 Accounts receivable (net) 229,267 204,300 -10.9 Accounts payable 135,049 198,365 +46.9 Sales (services offered) 131,270 244,165 +86.0 Cost of goods sold (services offered) 120,016 206,125 +71.7 Net income (loss) of the period (9,980) 15,336 +253.7 Book value of a share, KZT 151.76 150.49 -0.8 ------------------------------- --------------- ---------------- -------- Compared to similar period of 1999: - shareholders' equity decreased by KZT4.68 mln, or 0.8% (increase in uncovered loss of previous years by KZT4.45 mln, and decrease in fixed assets re-evaluation fund by KZT0.23 mln); - growth in the assets equaled KZT50.22 mln, or 6.7%; - growth in the liabilities equaled KZT54.90 mln, or 28.4%. Sales grew KZT112.90 mln, or 86.0% relative to the I quarter of 1999, cost of goods sold grew by KZT86.11 mln, or 71.7%, expenses of the period - by KZT5.81 mln, or 36.9%, income from secondary activities - by KZT3.26 mln, or 407.6%, expenses of secondary activities decreased thanks to net income by KZT1.08 mln, or 17.1%. As a result, net income received by OJSC "Bayan-Sulu" during the reporting period equaled KZT15.34 mln, against KZT9.98 mln loss incurred during similar period of last year.