Results of UKTMK OJSC (Kazakhstan) in I half of 2001

/KASE, Oct 11, 01/ - UKTMK OJSC (Oskemen) provided the KASE with its financial statements for the I half of 2001: balance sheet and income statement. By the data of the issuer following are the results of the company in the I half of 2001 (in th. KZT, unless otherwise specified): --------------------------------------------------------- As of As of Change, Ratio July 1 '00 July 1 '01 % -------------------------- ---------- ---------- -------- Authorized capital 21,582 21,582 0 Shareholders' equity 5,677,489 6,251,439 +10.1 Total assets 7,765,157 7,012,145 -9.7 Net working capital 1,540,587 2,116,241 +37.4 Accounts receivable 505,611 931,350 +84.2 Liabilities, total 2,087,668 760,706 -63.6 Loans attracted 961,124 293,000 -69.5 Accounts payable 1,081,425 426,694 -60.5 Sales 2,226,060 4,767,441 +114.2 Cost of goods sold 1,905,466 3,839,201 +101.5 Net income of the period 35,665 458,115 +1,184.5 Book value of a share, KZT 5,261.32 5,793.20 +10.1 --------------------------------------------------------- Compared to I half of 2000: - shareholders' equity of the company increased by KZT574.0m as a result of an increase in final amount of undistributed income by KZT671.2m with a decrease in fixed assets re-evaluation fund by KZT97.3m; - assets decreased by KZT753.0m (decrease in inventory by KZT1.4 bn with an increase in accounts receivable by KZT425.7m and cash and their equivalents by KZT207.7m); - liabilities fell by KZT1.3 bn (repayment of short-term credits for KZT668.1m and accounts payable - for KZT654.7m); - sales rose by KZT2.5 bn; - cost of goods sold rose by KZT1.9 bn. As a result, the company received a net income of KZT458.1m, which is KZT422.5m more than in similar period of last year. Now, common inscribed (KZ1P05502017, trade code - UTMK) and preferred inscribed (KZ1P05502012, trade code - UTMKp) shares of UKTMK OJSC are traded within official list of KASE securities under category "A", which have been admitted into the KASE lists on October 16, 1997. Primary activities: production and sale of non-ferrous metals (high quality titanium sponge, commodity magnesium).