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07.12.2000 00:00

VITA LLP (Kazakhstan): financial indices

/IRBIS, Dec 7, 00/ - Following are financial and economic ratios of VITA LLP (Almaty), made by the data of the Listing Commission of Kazakhstan Stock Exchange (KASE). The information is published in connection with admission of the bank bonds into official list of securities, category "B". The management of VITA LLP assumes full responsibility for the authenticity of presented information.

FINANCIAL STATEMENT DATA PRESENTED BY THE ISSUER

VITA LLP presented its balance sheet, income and cash flow statements for the years 1997-1999, as well as intermediate statement for the year 2000, which was made in accordance with the Kazakhstani accounting standards (KAS).

Following is the table created by the KASE specialists based on these financial statements (in th. KZT, unless otherwise specified).

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                               As of      As of      As of      As of
Index                      Jan.1 '98  Jan.1 '99  Jan.1 '00  Oct.1 '00
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Authorized capital             1,450      1,450     54,433     54,433
Shareholders' equity         196,721    208,747    291,620    312,751
Book value of the assets     257,682    336,335    603,863    722,774
Working capital              125,604    -26,247     59,373    304,740
Accounts receivable           72,200     70,146    117,568     91,036
Liabilities                   60,961    127,588    312,243    410,024
Loans attracted                9,383     68,344    105,585    327,538
Accounts payable              51,577     59,244    206,490     82,318
Sales                        135,315    164,336    120,891    341,044
Net profit (loss)             15,254     12,026     29,891     21,131
Return on sales (ROE), %        12.1       16.1       39.8       21.6
Return on equity (ROE), %        5.9        3.6        4.9        2.9
Return on assets (ROA), %        7.8        5.8       10.2        6.8
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Authorized capital of VITA LLP was increased based on the decision of the founders extraordinary meeting held on September 14, 1999.

The growth of the assets in 1999 was due to the purchases of fixed assets by attracting long-term loans received from Bank CenterCredit OJSC.

AUDITING REPORT DATA

VITA LLP has presented the KASE with auditing report of KPMG-Janat (Almaty, Kazakhstan), made on the company's 1999 financial statements in accordance with the Kazakhstani and International accounting standards, as well as auditing report for the first half of the year 2000, made by Tsentraudit-Kazakhstan (Almaty, Kazakhstan) in accordance with the Kazakhstani accounting standards.

Following is the table created by the KASE specialists based on auditing report of KPMG-Janat (in th. KZT, unless otherwise specified).

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                                As of
Index                      Dec.31 '99
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Authorized capital (paid)      54,433
Shareholders' equity          234,529
Book value of the assets      571,034
Working capital                42,355
Accounts receivable           146,843
Liabilities                   336,505
Loans attracted               165,295
Accounts payable              171,210
Sales                         115,166
Net profit (loss)            (27,201)
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The auditing report reads that financial statements of VITA LLP made as of December 31, 1998 have not been audited, therefore the auditor had no chance to get sufficient proofs to determine the accuracy the beginning balance of 1999. As a result of the corrections made to the balance sheet as of December 31, 1998 could have noticeable impact on the balance sheet, income statement and undistributed income as of December 31, 1999. Also, KPMG-Janat did not confirm the taking the stock of inventory because the auditor did not participate during this process as of December 31, 1999.

It is also said that except for these matters, financial statements give accurate picture of the company's financial situation as of December 31, 1999, as well as its activities and cash flows as of indicated period in accordance with the KAS.

In conclusion, the Tsentraudit-Kazakhstan said that considering the records, the data of the balance sheet of the VITA LLP are reliable in all aspects as of July 1, 2000.