Results of Zerde OJSC (Kazakhstan) in Q1 of 2003

/KASE, July 7, 03/ - Zerde OJSC (Almaty), whose common shares are circulating under "B" category official securities list at KASE, provided the Kazakhstan Stock Exchange (KASE) with its financial statements for the first quarter of 2003. By the data of the issuer following are the results of the company during reporting period (in th. KZT unless otherwise specified): ------------------------------------------------------- As of As of Change, Ratio Apr.1 '02 Apr.1 '03 % -------------------------- --------- --------- -------- Authorized capital (paid) 75,000 75,000 0.0 Shareholders' equity 75,202 77,141 +2.6 Total assets 76,131 77,579 +1.9 Net working capital 74,811 75,853 +1.4 Accounts receivable 71,556 35,367 -50.6 Total liabilities 929 439 -52.7 Accounts payable 929 541 -41.8 Sales (services) 30 1,967 +6,390.8 Cost of goods sold 57 866 +1,411.2 Expenses 436 1,153 +164.3 Net income (loss) -88 -48 -45.3 Book value of a share, KZT 1.00 1.03 +2.6 ------------------------------------------------------- Compared to similar period of year 2002 the following changes took place in: - shareholders' equity of the company grew by KZT1.9 m as a result of increase in total sum of non distributed revenue by 1.6 m and the forming of reserve capital in amount of 290.0m. - assets grew by KZT1.4 m, due to increase in cash and its equivalents (including financial investments totaling 39.5 m) by 36.9m, depreciated value of fixed assets - by KZT703.0 th, having a decrease in accounts receivable of KZT36.2 m; - liabilities downed by KZT490.0 th, due to redemption of accounts payable by this amount; - sales up by KZT1.9 m; - cost of goods sold grew by KZT809.0 th; - expenses of the period (only general and administrative) up by KZT716.9 th. Net income of the company in the first quarter of 2003 downed by KZT40.0 th relative to the similar period of the last year. Primary activity of the company - maintenance of register of securities holders. [2003-07-07]