Results of activity of Sokolovsko-Sarbayskoye ore mining and processing amalgamation OJSC (Kazakhstan) for the I half-year of 2003

/KASE, July 28, 03/ - Sokolovsko-Sarbayskoye ore mining and processing amalgamation OJSC (SSOMPA OJSC, Rudniy, Kostanai oblast), whose common inscribed shares are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with the financial statement for the I half-year of 2003. The following indicators are the result of the issuer's financial and economic activity for the I half-year of 2003, based upon the issuer's information (in th. KZT, unless otherwise specified): ------------------------------------------------------------- As of As of Change, Indicator July 1, 02 July 1, 03 % ---------------------------- ---------- ---------- ------- Authorized capital (paid) 6,500,000 6,500,000 0.0 Shareholders' equity 21,984,656 27,870,017 +26.8 Total assets 26,482,742 31,135,173 +17.6 Net working capital 3,890,565 7,238,175 +86.0 Accounts receivable 2,573,281 4,647,487 +80.6 Total liabilities 4,498,086 3,265,156 -27.4 Attracted credits 338,491 76,505 -77.4 Accounts payable 4,159,595 3,188,651 -23.3 Sales volume 12,379,599 18,902,316 +52.7 Cost of goods sold 8,804,252 11,212,204 +27.3 Net income 1,803,777 4,305,560 +138.7 Book value of one share, KZT 3,382.25 4,287.69 +26.8 ------------------------------------------------------------- Relative to similar period of 2002 there are following changes: - shareholders' equity increased by KZT5.9 bn. as the result of increase of total sum of undistributed income by 6.9 bn., whereas there took place decrease of additional unpaid capital by 1.0 bn.; - assets increased by KZT4.7 bn., that was caused by increase of residual value of fixed assets by 3.4 bn. and accounts receivable - by 2.1 bn., whereas there took place decrease of other assets by 843.3 m.; - liabilities decreased by KZT1.2 bn., including: current accounts payable - by 970.9 m. and attracted credits volume - by 262.0 m.; - sales volume increased by KZT6.5 bn.; - cost of goods sold increased by KZT2.4 bn. Net income, which SSOMPA OJSC received in the I half-year of 2003, increased relative to similar period of 2002 by KZT2.5 bn. (2.4 times). Company's primary activities - extraction and processing of iron ore, limestone, dolomite; production and sale of pellets, concentrate, ballast, lime; organization of complex usage of mineral raw stuff, including usage of old raw stuff and other activities, in compliance with the licenses, which the company possesses. [2003-07-28]