Results of Bayan-Sulu OJSC (Kazakhstan) in 9 months of 2001

/KASE, Nov 28, 01/ - Bayan-Sulu OJSC (Kostanai) provided the KASE with its financial statements for 9 months of 2001: balance sheet, income and cash flow statements. By the data of the issuer following are the results of the company in 9 months of 2001 (in th. KZT, unless otherwise specified): ----------------------------------------------------------------------- As of As of Change, Ratio Oct 1 '00 Oct 1 '01 % ----------------------------------------------------------------------- Authorized capital (issued) 1,000,000 1,000,000 0 Authorized capital (less treasury stock) 553,172 548,936 -0.8 Shareholders' equity 575,191 581,417 +1.1 Total assets 826,085 848,126 +2.7 Net working capital 216,210 256,144 +18.5 Accounts receivable 250,768 282,494 +12.7 Liabilities, total 250,894 266,709 +6.3 Loans attracted 48,677 51,784 +6.4 Accounts payable 202,217 214,925 +6.3 Sales 693,628 906,324 +30.7 Cost of goods sold 600,770 794,501 +32.2 Net income of the period 35,350 9,820 -72.2 Book value of a share, KZT 155.97 158.88 +1.9 ----------------------------------------------------------------------- Compared to 9 months of 2000 growth took place in: - shareholders' equity of the company - by KZT6.2m as a result of an increase in reserve capital by KZT10.0m and final amount of undistributed income by KZT0.5m with a decrease in authorized capital (treasury stock) - by KZT4.2m; - assets - by KZT22.0m, including: short-term accounts receivable - by KZT31.7m, inventory - by KZT21.2m, with a decrease in residual value of fixed assets by KZT26.6m and other assets - by KZT4.3m; - liabilities - by KZT15.8m, including: accounts payable - by KZT12.7m, attracted bank credits - by KZT3.1m; - sales - by KZT212.7m; - cost of goods sold - by KZT193.7m; - expenses of the period - by KZT24.2m, or 35.0% as a result of an increase in general and administrative expenses by KZT21.2m (87.9%). As a result of activity for 9 months of 2001, the company received a KZT25.5m less net income than in similar period of last year. The following table represents dynamics of some parameters of Bayan-Sulu OJSC for year 2001 on a quarterly and non-cumulative sum basis (in th. KZT): ------------------------------------------------------------ Ratio I-2001 II-2001 Change, % III-2001 Change, % ------------------------------------------------------------ Sales 256 152 294 828 +15,1 355 344 +20,5 Net income 5 336 3 567 -33,2 917 -74,3 ------------------------------------------------------------ Common inscribed (KZ1C24121211, trade code - BSUL) shares of Bayan- Sulu OJSC circulate in official list of KASE securities under category "B" from August 12, 1998. Primary activities of the company: production and sale of confectionery.