Results of activity of Ust-Kamenogorsk Battery Farm OJSC (Kazakhstan) in I quarter 2004

/IRBIS, Galina Tsalyuk, July 7, 02/ - Ust-Kamenogorsk Battery Farm CJSC (UKBF OJSC, East Kazakhstan oblast, Molodezhniy set-t), whose bonds are circulating in the official "B" listing category of Kazakhstan stock exchange JSC (KASE), presented KASE non-audited financial statement for I quarter 2004. According to the issuer's data the result of the company's financial and economic activity in I quarter 2004 is as follows (th. KZT, unless otherwise specified): ---------------------------------------------------------------------------- As of As of Change, Indicator Apr 1, 03 Apr 1, 04 % --------------------------------------------- --------- --------- ------- Authorized capital (paid excluding withdrawn) 274,027 270,133 -1.4 Shareholders' equity 1,160,297 1,354,931 +16.8 Total assets 1,959,427 2,116,924 +8.0 Net working capital 278,230 197,227 -29.1 Accounts receivable 164,005 142,365 -13.2 Total liabilities 799,130 761,993 -4.6 Borrowed loans 358,278 314,936 -12.1 Accounts payable 244,526 259,851 +6.3 Bonds floated 155,000 155,000 0.0 Sales volume 331,232 413,414 +24.8 Cost of goods sold 224,811 315,574 +40.4 Net income for the period 52,132 25,588 -50.9 ---------------------------------------------------------------------------- Relative to I quarter 2003 the following changes occurred: - shareholders' equity of the company grew by 194.6 m., as a result of increase or total sum of undistributed income by 234.0 m. and additional paid-up capital - by 3.1 m., and decrease of additional unpaid capital - 38.6 m, withdrawn (redemption) of shares for 3.9 m.; - assets grew by 157.5 m., including: depreciated cost of fixed assets - 107.0 m., inventories - by 85.4 m., and decrease of accounts receivable - 21.6 m. and other assets by 13.2 m. - liabilities decreased by 37.1 m. because of decrease of the volume of borrowed credits by 43.3 m.; deferred taxes - 9.1 m and increase of accounts payable - 15.3 m; - sales volume increased by 82.2 m.; - cost of goods sold increased by 90.8 m.; Net income, which UKBF OJSC earned in I quarter 2004, exceeded net income of I quarter 2003 by KZT 26.5 m. Company's primary activities: raising and growing of hens "broiler", processing, packing and sale of hen's meat and derivative production, conducting of activity, which accompanies to the primary one (for example, public utilities for population and organizations). [2004-07-07]