Results of SHNOS OJSC (Kazakhstan) activity for the first quarter of 2002

/KASE, June 13, 02/ - SHNOS OJSC (Shymkent), whose and stocks bonds are circulating under categories "A" and "B" correspondinglyof the official listing provided KASE with the financial report for the first quarter of 2002: balance sheet, income and cash flow statements. The following indicators are results of the company's financial and economic activity in the first quarter of 2002, based upon the issuer's information (in th. KZT, if otherwise specified): -------------------------------------------------------------------- As of As of Indicator April 1, 01 April 1, 02 Change,% -------------------------------- ----------- ----------- -------- Authorized capital 62,323 62,256 -0.1 Shareholders' equity 28,710,810 34,267,578 +19.4 Total assets 32,385,060 48,598,894 +50.1 Net working capital 20,722,023 23,170,526 +11.8 Accounts receivable 16,704,813 32,473,948 +94.4 Total liabilities 3,674,250 14,331,315 +290.1 Bonds issued - 2,006,401 - Accounts payable 3,674,250 14,331,315 +290.1 Sales volume 12,120,087 12,547,216 +3.5 Cost of goods sold 9,718,285 9,073,647 -6.6 Net income (loss) for the period 1,057,245 1,924,952 +82.1 Book value of 1 share, tenge 460.9 550.4 +19.4 -------------------------------------------------------------------- Relative to corresponding period 2001 there was growth in: - company's stockholders' equity - by KZT5.6bn that was due to insrease of total sum of undistributed profits; - assets - by KZT16.2bn including : accounts receivable - by KZT15.8bn (2 times), net book value of fixed assets - by KZT1.9bn, volume of construction in progress - by KZT1.3bn and cash - by KZT1.2bn having a reduction of inventories by KZT3.9bn; - liabilities - by KZT10.7m as a result of bonds floatation amounting to KZT2bn, credit received of KZT6.1bn and increase of accounts payable - by KZT2.5bn; - sales volume - by KZT427.1m; - expenses of the period - by 113.3m Cost of goods sold went down by KZT644.7m relative to corresponding period of 2001. According to the results of activity in the first quarter of 2002 SHNOS OJSC realized net income of KZT1.9bn, which is 867.7m greater than that of the corresponding period of the previous year. The main activities are - oil processing and oil minerals distribution. [2002-06-13]