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

/KASE, September 9, 03/ - Kant OJSC (Taraz), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with the financial statement for the I half-year of 2003. The following indicators are result of financial and economic activity of Kant OJSC for the I half-year of 2003, based upon its data (in th. KZT, unless otherwise specified): -------------------------------------------------------------- As of As of Indicator July 1, 02 July 1, 03 Change,% ---------------------------- ---------- ---------- -------- Authorized capital (paid) 90,000 687,071 +663.4 Shareholders' equity 709,700 1,967,267 +177.2 Total assets 1,972,889 3,503,737 +77.6 Net working capital 40,368 991,035 +2,355.0 Accounts receivable 758,166 961,946 +26.9 Total liabilities 1,263,189 1,536,470 +21.6 Attracted credits - 1,181,440 - Accounts payable 1,263,189 355,030 -71.9 Sales volume 1,491,509 3,960,581 +165.5 Cost of goods sold 1,280,878 3,487,615 +172.3 Net income for the period 93,756 374,600 +299.5 Book value of one share, KZT 788.56 286.33 -63.7 -------------------------------------------------------------- Relative to similar period of 2002 there is increase of: - shareholders' equity - by KZT1.2 bn. as the result of increase of the paid part of authorized capital by 597.1 m. (floatation of common shares of the 4th issue), total sum of undistributed income - by 681.5 m., whereas there took place decrease of additionally unpaid capital - by 20.8 m. and reserve capital by 0.3 m.; - assets - by KZT1.5 bn. including: inventory - by 546.7 m., funds - by 484.8 m., construction in progress - 239.3 m., accounts receivable - by 203.8 m. and other assets - by 56.2 m.; - liabilities - by KZT273.3 m., in accordance with borrowing of short-term credits for 1.2 bn., whereas there took place decrease of accounts payable by 908.1 m.; - sales volume - by KZT2.5 bn.; - cost of goods sold - by KZT2.2 bn. Net income, which Kant OJSC received in the I half-year of 2003, exceeded net income of similar period of 2002 by KZT280.8 m. Such the significant decrease of book value of one share in presence of growth of the company's shareholders equity was caused by the significant increase of number of shares in circulation as the result of floatation of shares of the 4th issue. Company's primary activities - production and sale of goods, carrying out of works and rendering services for enterprises, organizations and citizens. [2003-09-09]