Results of activity of Hurricane Oil Products OJSC (Kazakhstan) for the first quarter of 2002

/KASE, November 12, 02/ - Hurricane Oil Products, brief name is HOP OJSC (Shymkent, before - SHNOS OJSC), whose securities are circulating under the stock exchange's official list (bonds - under "A" category, shares - under "B" category), provided KASE with the financial statement for the first quarter of 2002: the balance sheet, income statement and cash flow statement. The following indicators are results of the issuer's financial and economic activity in the first quarter of 2002, based upon the issuer's information (in th. KZT, unless other wise specified): -------------------------------------------------------------------- As of As of Indicator April 1, 01 April 1, 02 Change,% -------------------------------- ----------- ----------- -------- Issued authorized capital (paid 62,292 62,256 -0.1 excluding withdrawn) Shareholders' equity 28,710,810 34,300,994 +19.5 Total assets 32,385,060 48,598,894 +50.1 Net working capital 20,722,023 23,203,942 +12.0 Accounts receivable (net) 16,704,813 31,906,348 +91.0 Total liabilities 3,674,250 14,297,900 +289.1 Issued bonds 0 2,006,401 - Credits 0 6,133,911 - Accounts payable 3,674,250 6,157,587 +67.6 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 one share, KZT 460.9 551.0 +19.5 -------------------------------------------------------------------- Relative to similar period of 2001 there are following changes: - Shareholders' equity increased by KZT5.6 bn as a result of increase of total sum of undistributed income by the same amount; - assets increased by KZT16.2 bn including: accounts receivable by 15.2 bn, residual value of fixed - assets by KZT1.9 bn, volume of construction in progress - by 1.3 bn, money - by 1.2 bn, whereas ther took place decrease of inventories by 3.4 bn; - liabilities increased by KZT10.6 bn, in accordance with increase of accounts payable by 2.5 bn, attracting of credits in the amount of KZT6.1 bn and floatation of bonds in the amount of KZT2.0 bn; - sales volume increased by KZT427.1 m; - cost of goods sold fell by KZT644.6 m; - revenues of the period rose by KZT113.3 m (11.5%). Net income received by HOP OJSC for the first quarter of 2002exceeded the net income, which had been received for corresponding period of 2001, by KZT867.7 m. The company's primary activities: petroleum refining and mineral oils sale. [2002-11-12]