Results of activity of TNC Kazchrome JSC (Kazakhstan) in the I quarter of 2004

/IRBIS, Galina Tsalyuk, August 4, 04/ - TNC Kazchrome JSC (Aktobe), whose shares are circulating the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statements for the I quarter of 2004. Following indicators are the result of the issuer's financial and economic activity for the I quarter of 2004, based upon the issuer's data (th. KZT, unless otherwise specified): ------------------------------------------------------------- As of As of Change, Indicator Apr 1, 03 Apr 1, 04 % ---------------------------- ---------- ---------- ------- Authorized capital (paid) 7,903,485 7,903,485 0.0 Shareholders' equity 39,536,779 52,791,323 +33.5 Total assets 51,297,678 62,560,318 +22.0 Net working capital 5,776,202 15,344,929 +165.7 Accounts receivable 6,046,554 11,238,104 +85.9 Liabilities, total 11,760,899 9,768,995 -16.9 Accounts payable 5,688,846 6,567,987 +15.5 Borrowed loans 4,500,029 1,078,387 -76.0 Sales volume 16,614,389 22,253,866 +33.9 Cost of goods sold 9,033,152 12,265,746 +35.8 Net income for the period 3,311,211 4,146,239 +25.2 Book value of one share, KZT 5,002.45 6,679.50 +33.5 ------------------------------------------------------------- Relative to the I quarter of 2003 there is increase of: - shareholders equity - by KZT13.2 bn. as the result of increase of total sum of undistributed income by 13.4 bn., whereas there took place decrease of additional unpaid capital by 180.3 m; - assets - by KZT11.3 bn., including: residual value of fixed assets (including construction in process) - by 3.3 bn., accounts receivable - by 5.2 bn., inventory - by 1.6 bn., funds - by 1.1 bn. and other assets - by 88.6 m.; - sales volume - by KZT5.6 bn.; - cost of goods sold - by KZT3.2 bn. Liabilities of TNC Kazchrome JSC fell by KZT2.0 bn. relative to the I quarter of 2003 that was caused by decrease of borrowed loans volume by 3.4 bn, whereas there took place growth of accounts payable by 879.1 m. and sum of deferred taxes - by 550.6 m. Net income TNC Kazchrome JSC earned in the I quarter of 2004 exceeded the net income of similar period of 2003 by KZT835.0 m. Company's primary activities - ferrous metals production, extraction and concentrating of ore raw stuff for ferrous metallurgy. [2004-08-04]