Results of activity of DAGOK Kustanaiasbest OJSC (Kazakhstan) for the I quarter of 2003

/KASE, June 23, 03/ - DAGOK Kustanaiasbest OJSC (Zhetikara, Kostanai oblast), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with the 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 issuer's information (in th. KZT): ------------------------------------------------------------------ As of As of Indicator Apr 01, 02 Apr 01, 03 Change,% -------------------------------- ---------- ---------- -------- Authorized capital 460 000 460 000 0 Shareholders' equity 1,571,498 2,048,422 +30.3 Total assets 5,101,934 5,654,420 +10.8 Net working capital 687,882 520,028 -24.4 Accounts receivable 1,893,214 1,684,162 -11.0 Total liabilities 3,530,436 3,605,998 +2.1 Attracted credits 738,103 630,403 -14.6 Floated bonds 868,548 909,855 +4.8 Accounts payable 1,818,257 1,482,424 -18.5 Sales volume 799,951 940,406 +17.6 Cost of goods sold 583,331 757,217 +29.8 Net income (loss) for the period 75,911 100,529 +32.4 ------------------------------------------------------------------ Relative to the I quarter of 2002 there is increase of: - shareholders' equity of the company - by KZT476.9 m. as the result of increase of additionally unpaid capital - by KZT179.3 m., and total sum of undistributed income - by 297.6 m.; - assets - by KZT552.5 m., that was caused by increase of residual value of fixed assets by KZT1.3 bn., whereas there took place decrease of investments - by KZT451.3 m., accounts receivable - by 209.0 m. and other assets - by 123.8 m.; - liabilities - by KZT75.6 m. as the result of increase of revenues of future periods by 272.4 m., deferred tax liabilities - by 337.3 m. and other charged expenses - by 208.1 m., whereas there took place decrease of accounts payable by 607.5 m. and other liabilities - by 134.6 m; - sales volume - by KZT140.5 m.; - cost of goods sold - by KZT173.9 m.; At the same time the company's expenses of the period decreased by KZT36.2 m. (by 23.1%) relative to the I quarter of 2002, revenues from secondary activity increased by KZT7.3 m. (45.6%). Net income, which DAGOK Kustanaiasbest OJSC received according to results of the I quarter of 2003, exceeded net income of similar period of 2002 by KZT24.6 m. Company's primary activities: extraction and concentrating of chrysotile- asbestos and production on this base of commercial asbestos and concomitant building materials. [2003-06-23]