Financial results of VALUT-TRANSIT-Security LLP (Kazakhstan) in 2003

/IRBIS, Galina Tsalyuk, May 21, 04/ - VALUT-TRANSIT-SECURITY LLP (Almaty), whose securities are circulating Kazakhstan Stock Exchange's (KASE) official "B" listing category, provided KASE with its financial statements for 2003. Following is the results of the issuer's financial and economic activity in 2003, based upon the issuer's data (in th. KZT unless otherwise specified): ---------------------------------------------------------------------- As of As of Change, Ratio Jan 1, 03 Jan 1, 04 % ------------------------------------ --------- --------- ---------- Authorized capital (paid) 73 823 +1,027.4 Shareholders' equity -9,240 2,951 +131.9 Total assets 108,461 1,153,627 +963.6 Net working capital -41,848 968,543 +2,414.4 Accounts receivable 53,939 196,110 +263.6 Total liabilities 117,700 1,150,676 +877.6 Loans borrowed (excluding bonds) - 8,400 - Accounts payable 117,700 142,276 +20.9 Bonds issued - 1,000,000 - Sales volume 266,084 372,816 +40.1 Cost of sales 149,486 1,306 -99.1 Period expenses 116,528 365,057 +213.3 Net income for the period 19 11,441 +61,409.6 ------------------------------------ --------- --------- ---------- Ratios based on issuer's information ------------------------------------ --------- --------- ---------- Return on Sales, % 43.82 99.65 +127.4 Return on Equity, % -0.20 387.64 +192,661.3 Return on Assets, % 0.02 0.99 +5,683.0 ---------------------------------------------------------------------- Shareholders' equity of the company by results of 2003 turned out positive as a result of net income earned within named period that cover losses of previous years in amount of KZT9.3 m and resulted in retained earnings of KAZ2.1 m as well as increased paid-in part of chartered capital. Compared to 2002 following accounts increased: - total assets - by KZT1.0 bn., including cash by 902.5 m, accounts receivable by 142.2 m and other assets by 508.0 th.; - liabilities - by KZT1.0 bn., caused by bonds floatation for 1.0 bn, attraction of loans for 8.4 m and increase in accounts payable by 24.6 m; - sales volume - by KZT106.7 m; - period expenses by KZT248.5 m. Cost of services declined rrelative to previous year by KZT148.2 m. Net income earned by VALUT-TRANSIT-SECURITY LLP in 2003 grew by KZT11.4 m. relative to 2002. Primary activity of the company: comprehensive security services. [2004-05-21]