Results of activity of UKTMC OJSC (Kazakhstan) for the I half-year of 2003

/KASE, July 31, 03/ - UKTMC OJSC (Ust-Kamenogorsk), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with financial statement for the I half-year of 2003. The following indicators are results 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 other wise specified): ----------------------------------------------------------- As of As of Indicator July 1, 02 July 1, 03 Change,% ---------------------------- ---------- ---------- -------- Authorized capital (paid) 21,582 21,582 0.0 Shareholders' equity 7,496,129 7,496,105 -0.0 Total assets 8,277,716 8,428,382 +1.8 Net working capital 3,009,661 2,499,383 -17.0 Accounts receivable 1,168,318 593,555 -49.2 Liabilities, total 781,587 932,277 +19.3 Accounts payable 697,758 932,277 +33.6 Sales volume 5,967,165 4,756,442 -20.3 Cost of goods sold 4,451,232 4,052,537 -9.0 Net income for the period 980,857 84,805 -91.4 Book value of one share, KZT 6,946.65 6,946.63 -0.02 ----------------------------------------------------------- Relative to the I half-year of 2002 there are following changes: - shareholders' equity decreased by KZT24.0 th. as the result of increase of total sum of undistributed income by the same sum; - assets increased by KZT150.7 m., including: residual value of fixed assets by 285.5 m., inventory - by 315.6 m., funds - by 123.4 m. and other assets - by 941.0 th., whereas there took place decrease accounts receivable by 574.8 m.; - liabilities increased by KZT150.7 m., in accordance with increase of accounts payable by the same sum; - sales volume decreased by KZT1.2 bn.; - cost of goods sold decreased by KZT398.7 m.; Net income, which UKTMC OJSC received according to results of the I half- year of 2003, decreased relative to similar period of 2002 by KZT896.0 m. Company's primary activities - production and sale of non-ferrous metals (high-quality titanium sponge, and commercial magnesium). [2003-07-31]