Results of activity of Kazakhtelecom (Kazakhstan) for the I quarter of 2003

/KASE, June 17, 03/ - Kazakhtelecom (Astana), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statement for the I quarter of 2003. The following indicators are results of the issuer's financial and economic activity for the I quarter of 2003, based upon the financial statement (in th. KZT, unless otherwise specified): ------------------------------------------------------------------------------- As of As of Indicator Apr 1, 02 Apr 1, 03 Change,% --------------------------------------------- ---------- ---------- -------- Authorized capital (paid excluding withdrawn) 9,483,893 9,483,669 -0.0 Shareholders' equity 40,901,870 52,245,085 +27.7 Total assets 71,592,776 89,150,845 +24.5 Net working capital -1,951,320 -4,562,091 -133.8 Accounts receivable 8,817,728 11,763,692 +33.4 Liabilities, total 30,690,906 36,905,760 +20.2 Attracted loans (including bonds) 21,348,561 23,966,809 +12.3 Accounts payable 9,342,345 12,921,480 +38.3 Sales volume 12,552,928 14,795,855 +17.9 Cost of goods sold 7,394,762 8,143,202 +10.1 Net income for the period 2,728,569 3,749,140 +37.4 Book value of one share, KZT 3,611.23 4,612.82 +27.7 ------------------------------------------------------------------------------- Relative to the I quarter of 2002 there increase of: - shareholders' equity - by KZT11.3 bn., as the result of increase of total sum of undistributed income by 12.1 bn., that was partially covered by decrease of additionally unpaid capital by 783.2 m.; - assets - by KZT17.5 bn., including: residual value of fixed assets - by 1.9 bn., construction in process - by 6.4 bn., long-term investments - by 5.2 bn., accounts receivable - by 2.9 bn., inventory - by 1.3 bn., whereas there took place decrease of other assets by 193.8 m.; - liabilities - by KZT6.2 bn. that was caused by increase of accounts payable by 3.6 bn., and volume of borrowed funds (including bonds floatation) - by 2.6 bn.; - sales volume - by KZT2.2 bn.; - cost of goods sold - by KZT748.4 m.; - expenses of the period - by KZT531.6 m. (by 25.1%). Net income, which Kazakhtelecom received according to results of the I quarter of 2003, increased relative to similar period of 2002 by KZT1.0 bn. Company's primary activities - telephone, telegraph, TV and radio communication of all types. [2003-06-17]