Results of activity of Sokolovsk-Sarbay ore mining and processing group JSC (Kazakhstan) for the I quarter of 2004

/IRBIS, Galina Tsalyuk, July 9, 04/ - Sokolovsk-Sarbay ore mining and processing group JSC (Rudniy, Kostanai oblast), whose common shares are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with the financial statement for the I quarter of 2004. The following indicators are results of the issuer's financial and economic activity for the I quarter of 2004, based upon the issuer's information (in th. , unless otherwise specified): ---------------------------------------------------------- As of As of Change, Indicator Apr 1, 03 Apr 1, 04 % ------------------------- ---------- ---------- ------- Authorized capital (paid) 6,500,000 6,500,000 0.0 Shareholders' equity 25,172,671 29,536,602 +17.3 Total assets 28,342,665 36,225,245 +27.8 Net working capital 5,265,454 4,727,527 -10.2 Accounts receivable 3,787,180 5,532,070 +46.1 Total liabilities 3,169,994 6,688,643 +111.0 Attracted loans - 1,561,980 - Accounts payable 3,169,994 5,126,663 +61.7 Sales volume 8,999,373 10,295,869 +14.4 Cost of goods sold 5,443,503 5,543,370 +1.8 Net income 1,608,214 1,986,390 +23.5 Book value of one share, 3,872.72 4,544.09 +17.3 ---------------------------------------------------------- Relative to similar period of 2003 there is increase of: - shareholders' equity - 4.4 bn. as the result of increase of total sum of undistributed income - 4.9 bn., and decrease of additional unpaid capital 580.9 m.; - assets - 7.9 bn., including: depreciated cost of fixed assets - 3.6 bn., inventories -1.6 bn, accounts receivable - 1.7 bn. and other assets - 866.4 m.; - liabilities - 3.5 bn, including: current accounts payable - 1.9 bn and attracted loans - 1.6 bn; - sales volume - 1.3 bn.; - cost of goods sold - 99.9 m. Net income, which SSOMPG JSC received in the first quarter of 2004, increased relative to similar period of 2003 by 378.2 m. Company's primary activities - mining and processing of iron ore, limestone, dolomite; production and sale of pellets, concentrate, ballast, lime; organization of complex usage of mineral raw stuff, including usage of old raw stuff and other activities according to state issued licenses. [2004-07-09]