Results of activity of KAZZINC JSC (Kazakhstan) in first 6 months of 2004

/IRBIS, Galina Tsalyuk, September 1, 04/ - KAZZINC JSC (Ust-Kamenogorsk), whose common shares are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statement for the first 6 months of 2004. Following indicators are the result of the issuer's financial and economic activity for the reported period, based upon the issuer's data (th. KZT, unless otherwise specified): ------------------------------------------------------------- As of As of Indicator Jul 1, 03 Jul 1, 04 Change,% ---------------------------- ----------- ----------- -------- Authorized capital (paid) 20,643,659 20,643,659 0.0 Shareholders' equity 45,305,231 64,078,132 +41.4 Total assets (net) 101,732,839 122,946,083 +20.9 Net working capital -264,358 12,369,191 +4,779.0 Accounts receivable (net) 32,924,896 49,423,085 +50.1 Total liabilities 56,427,608 58,867,951 +4.3 Borrowed loans 15,594,953 11,624,205 -25.5 Accounts payable 32,008,059 38,311,379 +19.7 Sales volume 29,763,761 44,861,508 +50.7 Cost of goods sold 15,612,368 20,444,551 +31.0 Expenses 5,493,895 6,681,543 +21.6 Net income 7,122,458 14,830,446 +108.2 Book value of one share, KZT 2,194.63 3,104.01 +41.4 ------------------------------------------------------------- Relative to comparable period of 2003 there is increase of: - shareholders' equity - by KZT 18.8 bn. because of increase of retained earnings on the same amount; - assets - by KZT 21.2 bn., including: depreciated cost of fixed assets - by 2.7 bn, construction in progress - 1.1 bn; inventory - by 3.5 bn., accounts receivable - by 16.5 bn; and decrease of cash - 1.5 bn and other assets - 1.1 bn; - liabilities - 2.4 bn; including: accounts payable - 6.3 bn; other liabilities - 202.7 m and decrease of attracted loans - 4.0 bn; - sales volume - by KZT 15.1 bn; - cost of goods sold - by KZT 4.8 bn; - expenses - 1.2 bn; Net income, which KAZZINC JSC received for the period, exceeded corresponding figure of 2003 by KZT 7.7 bn. Company's primary activities - exploration and prospecting works, extraction and processing of non-ferrous ores, rare and precious metals, production of non- ferrous metal concentrates, including products containing precious metals, production of non-ferrous, rare and precious metals and their alloys, production of electrical and heat energy, other types of energy resources, sale of electrical power, non-ferrous, rare and precious metals, their alloys and non-ferrous metals concentrates, including precious at domestic and foreign markets, production of consumer goods, commercial, intermediary and foreign economic activity, wholesale and retail trade. [2004-09-01]