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

/IRBIS, July 14, 02/ - Atyraumunaigasgeologiya OJSC (AtMMG OJSC, Atyrau), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with financial statement for the first 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 Change, Indicator Apr 1, 02 Apr 1, 03 % ------------------------- --------- --------- --------- Authorized capital (paid) 140,819 140,819 0.0 Shareholders' equity 225,972 203,970 -9.7 Total assets 404,630 430,838 +6.5 Net working capital 66,192 13,657 -79.4 Accounts receivable 95,035 50,188 -47.2 Liabilities, total 178,658 226,868 +27.0 Issued bonds 146,100 146,100 0.0 Attracted credits - 3,234 - Accounts payable 32,558 77,534 +138.1 Sales volume 231,209 299,579 +29.6 Cost of goods sold 215,596 185,614 -13.9 Net income for the period 420 74,972 +17,750.5 ---------------------------------------------------------- Relative to similar period of 2002 there are following changes: - shareholders' equity decreased by KZT22.0 m as the result of decrease of total sum of undistributed income by the same sum; - assets increased by KZT26.2 m., that was caused by increase of residual value of fixed assets by 30.1 m. and money and its equivalents (including current financial investments) - by 71.4 m., whereas there took place decrease of accounts receivable by 44.8 m and inventory - by 30.5 m; - liabilities increased by KZT48.2 m, including: accounts payable - by 45.0 m and volume of attracted credits - by 3.2 m; - sales volume increased by KZT68.4 m; - cost of goods sold decreased by KZT30.0 m. Net income, which AtMGG OJSC received by the results of the I quarter of 2003, increased by KZT74.6 m. against similar period of 2002. Company's primary activity is assembling and dismantling of drilling and oil and gas industry equipment; drilling of oil and gas wells; underground and major repairs of oil and gas wells; designing of oil and gas wells building; testing and development of wells and other. [2003-07-14]