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

/KASE, September 5, 03/ - Corporation Ordabasy OJSC (Almaty), whose bonds are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with consolidated 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): ----------------------------------------------------------- As of As of Indicator July 1, 02 July 1, 03 Change,% ------------------------- ---------- ---------- -------- Authorized capital (paid) 900,000 1,452,800 +61.4 Shareholders' equity 1,044,621 1,820,788 +74.3 Total assets 2,854,490 6,674,081 +133.8 Net working capital 802,035 1,196,285 +49.2 Accounts receivable 1,960,611 2,646,340 +35.0 Total liabilities 1,803,138 4,495,166 +149.3 Attracted credits 879,991 2,627,251 +198.6 Issued bonds - 1,139,536 - Accounts payable 923,147 728,380 -21.1 Sales volume 2,776,436 2,529,343 -8.9 Cost of goods sold 2,655,530 2,090,815 -21.3 Net income for the period 10,544 28,669 +171.9 ----------------------------------------------------------- Relative to the I half-year of 2002 there are following changes: - shareholders' equity of the company rose by KZT776.2 m. in accordance with increase of paid part of authorized capital by 552.8 m. (partial floatation of shares of the 2nd issue), undistributed income - 77.7 m., additionally paid capital - by 135.7 m. and reserve capital - by 10.0 m.; - assets rose by KZT3.8 bn., including: volume of long-term investments - by KZT1.2 bn., residual value of fixed assets - by 492.2 m. accounts receivable - by 685.7 m., money and its equivalents (short-term investments) - by 405.5 m., inventory - by 778.3 m., and other assets - by 286.4 m.; - liabilities rose by KZT2.7 bn. that was caused by increase of the volume of attracted credits by 2.9 bn. (including floatation of bonds for 1.1 bn.) that was partially covered by decrease of accounts payable by 194.8 m.; - sales volume decreased by KZT247.1 m.; - cost of goods sold decreased by KZT564.7 m. Net income, which Corporation Ordabasy OJSC received according to results of the I half-year of 2003, exceeded net income of similar period of 2002 by KZT18.1 m. Company's primary activities - commercial activity, export-import operations on purchasing and sale of consumer goods, foodstuff, creation and development of goods production. [2003-09-05]