Results of ARNA OJSC (Kazakhstan) activity in first 6 months of 2004

/IRBIS, Galina Tsalyuk, September 2, 04/ - ARNA OJSC (Almaty), whose bonds are traded under "A" official securities list at KASE, presented KASE the financial statements for the first six months of 2004. According to audited financial statement's data the results of the company's financial and economic activity for the period are as follows (in th. KZT, unless otherwise indicated): ---------------------------------------------------------------- As of As of Change, Indicator Jul 1, 03 Jul 1, 04 % --------------------------------- --------- --------- ------- Authorized capital (paid) 5,000 5,000 0.0 Shareholders' equity 1,419,721 1,581,034 +11.4 Total assets 2,668,062 2,750,507 +3.1 Net working capital 186,257 151,527 -18.6 Accounts receivable (net) 763,193 997,812 +30.7 Total liabilities 1,248,341 1,169,473 -6.3 Loans attracted (excluding bonds) 284,855 118,823 -58.3 Bonds floated 465,000 465,000 0.0 Accounts payable 498,486 585,650 +17.5 Sales 966,317 1,260,921 +30.5 Cost of goods sold 495,802 775,760 +56.5 Net income 234,797 134,029 -42.9 ---------------------------------------------------------------- Relative to corresponding period of 2003 the growth occurred in: - shareholders' equity of the company - by KZT 161.3 m, as a result of increase of retained earnings by the same amount; - assets - by KZT 82.4 m, including: depreciated cost of fixed assets - 281.8 m, accounts receivables - 234.6 m; minus decrease of other assets - 8.9 m; and short-term financial investments - 425.1 m - sales volume - by KZT 294.6 m; - cost of goods sold - by KZT 279.9 m; The Company's liabilities fell by KZT 78.9 m, including: decrease of attracted loans - 166.0 m ad\nd increase of accounts payable - 87.2 m In first 6 months of 2004 ARNA OJSC received net income 100.8 m lower than in same period of 2003. Company's primary activities: implementation and maintenance of networks and systems of electric and radio communication; development, introduction and maintenance of new technologies and services in telecommunication and information science. [2004-09-02]