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

/KASE, September 4, 03/ - Zhairemskiy OMPE OJSC (Zhairem settlement, Karaganda oblast), whose bonds 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 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): ------------------------------------------------------------------ As of As of Indicator July 1, 02 July 1, 03 Change,% -------------------------------- ---------- ---------- -------- Authorized capital (paid) 640,415 640,415 0.0 Shareholders' equity 2,914,254 4,089,434 +40.3 Total assets 6,007,968 6,505,097 +8.3 Net working capital -502,981 110,128 +121.9 Accounts receivable 729,515 558,851 -23.4 Liabilities, total 3,093,714 2,415,663 -21.9 Accounts payable 1,437,434 717,072 -50.1 Attracted credits 1,633,535 1,698,591 +4.0 Sales volume 2,058,259 1,859,643 -9.6 Cost of goods sold 1,062,338 1,032,582 -2.8 Net income (loss) for the period 246,719 250,188 +1.4 ------------------------------------------------------------------ Relative to the I half-year of 2002 there are following changes: - shareholders' equity increased by KZT1.2 bn. as the result of increase of undistributed income by the same sum; - assets increased by KZT497.1 m., including: residual value of fixed assets by KZT339.7 m., inventory - by KZT392.0 m. and investments - by KZT173.5 m. that was partially compensated by decrease of the volume of construction in process by 195.1 m., accounts receivable - by 170.7 m. and other assets by 42.3 m.; - liabilities decreased by KZT678.0 m., that was caused by decrease of accounts payable by 720.4 m. and other liabilities - by 22.7 m., whereas there took place increase of the volume of attracted credits by 65.1 m.; - sales volume decreased by KZT198.6 m.; - cost of goods sold decreased by KZT29.8 m.; - expenses of the period decreased by KZT26.5 m. (by 4.5%). Net income, which Zhairemskiy OMPE OJSC received according to results of the I half-year of 2003, exceeded net income of similar period of 2002 by KZT3.5 m. The company's primary activities: search and geological exploration of ore and non-ore fields of mineral raw stuff with calculation of their reserves, development of fields, processing and sale of ore and non-ore mineral raw stuff. [2003-09-04]