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

/KASE, August 09, 02/ - DAGOC Kustanaiasbest OJSC (Zhetikara city, Kostanai oblast), whose bonds are traded under category "A" of the official listing provided KASE with financial report for the first quarter of 2002: balance sheet and income statement. The following indicators are results of the company's economic activity for three months of 2002, based upon the company's data (in th. KZT, unless otherwise specified): -------------------------------------------------------------------- As of As of Indicator Apr 1,01 Apr 1,02 Change, % ----------------------------------- --------- --------- --------- Authorized capital 460,000 460,000 0 Shareholders' equity 1,382,247 1,571,498 +13.7 Total assets 4,854,418 5,101,934 +5.1 Net working capital -86,563 687,882 +894.7 Accounts receivable 2,004,820 1,893,214 -5.6 Total liabilities (including bonds) 3,472,171 3,530,436 +1.7 Attracted loans 539,407 738,103 +36.8 Bonds offered - 868,548 - Accounts payable 2,770,852 1,818,257 -34.4 Sales volume 724,462 799,951 +10.4 Cost of goods sold 639,653 583,331 -8.8 Net income (loss) for the period (94,606) 75,911 +180.2 -------------------------------------------------------------------- Relative to the first quarter of 2001 the following changes occurred: - shareholders' equity of the company grew by KZT189.2m as a result of increase of additionally not paid capital by KZT240.7m with decrease of total sum of undistributed income - by KZT51.5m; - assets grew by KZT247.5m, including: depreciated cost of fixed assets - by KZT162.5m, construction in progress - by KZT153.8m and other assets - by KZT42.8m, with reduction of accounts receivable by 111.6m; - liabilities increased by KZT58.3m; - sales volume grew by KZT75.5m; - cost of goods sold decreased by KZT56.3m; - expenses declined by KZT11.7m (7.0%). Net income of DAGOC Kustanaiasbest OJSC by results of the first quarter of the current year totaled 75.9m tenge against 94.6m of losses, incurred by results of activity in the similar period of the previous year. Principal activity of the company is extraction and concentration of asbestos and production of market asbestos and attendant building materials on this base. [2002-08-09]