Results of activity of RG Brands OJSC (Kazakhstan) in the I half-year of 2003

/KASE, September 8, 03/ - RG Brands OJSC (Almaty), whose bonds are circulating in "A" official securities list at KASE, presented KASE the financial statements for the first half-year of 2003. Following is result of the issuer's financial and economic activity in the I half- year of 2003 based on the issuer's data (in th. KZT): ----------------------------------------------------------- As of As of Change, Indicator July 1, 02 July 1, 03 % ------------------------- ---------- ---------- -------- Authorized capital (paid) 705,000 1,478,023 +109.6 Shareholders' equity 857,782 1,659,865 +93.5 Total assets 1,921,409 5,309,839 +176.4 Net working capital 797,481 3,147,623 +294.7 Accounts receivable 555,695 3,173,074 +471.0 Total liabilities 1,062,097 3,649,974 +243.7 Loans attracted 91,860 1,309,352 +1,325.4 Issued bonds 612,400 1,498,656 +144.7 Accounts payable 183,475 837,214 +356.3 Sales volume 497,048 1,696,432 +241.3 Cost of goods sold 359,330 1,339,197 +272.7 Net income for the period 14,625 152,683 +944.0 ----------------------------------------------------------- * - data of non-consolidated financial statement. Relative to the I half-year of 2002 there is increase of: - shareholders' equity - by KZT802.1 m. as the result of increase of the paid part of authorized capital by 773.0 m. and total sum of undistributed income - by 118.2 m., whereas there took place decrease of additionally unpaid capital by 89.1 m.; - assets - by KZT3.4 bn, including: accounts receivable - by 2.6 bn., residual value of fixed assets - by 843.7 m., inventory - by 326.9 m., whereas there took place decrease of other assets - by 398.1 m.; - liabilities - by KZT2.6 bn., including: attracted credits - by KZT1.2 bn., floated bonds - by 886.2 m. and accounts payable - by 653.7 m.; - sales volume - by KZT1.2 bn.; - cost of goods sold - by KZT979.9 m.; - expenses of the period - by KZT202.3 m. (2.9 times), including expenses for interest payments - by 99.7 m. or almost 3 times. Net income, which RG Brands OJSC received in the I half-year of 2003, exceeded net income of similar period of 2002 by KZT138.1 m. Such the significant increase in the I half-year of 2003 relative to the I half- year of 2002 almost on all articles of the financial statement was caused by the fact that financial statement of daughter companies - PRG Bottlers OJSC (Almaty) and Tealand LLP (Almaty) was consolidated into the financial statement of RG Brands OJSC for the I half-year of 2003. Company's financial statement for the I half-year of 2002 (as well as financial indexes, which are shown in the table) was not consolidated one. In the second half of 2002 Resmi Group Ltd LLP (Almaty, the only shareholder of RG Brands OJSC) instead of payment for shares of the 2nd issue gave to RG Brands OJSC 100% of issued (paid) shares of PRG Bottlers OJSC to the amount of KZT750.0 m. and 100% stake in the authorized capital of Tealand LLP to the amount of KZT23.0 m. As the result of conducted deals the paid part of the authorized capital of RG Brands OJSC increased by KZT773.0 m. Company's primary activities: production and sale of natural juices and drinks, rendering of marketing services. [2003-09-08]