Results of activity of Sokolovsk-Sarbay ore mining and processing amalgamation JSC (Kazakhstan) in the I half of 2004

/IRBIS, Galina Tsalyuk, September 7, 04/ - Sokolovsk-Sarbay ore mining and processing amalgamation JSC (Rudniy, Kostanai oblast), 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 I half of 2004. Following indicators are result of the issuer's financial and economic activity in the I half of 2004, based upon the issuer's data (th. KZT, unless otherwise specified): ------------------------------------------------------------- As of As of Change, Indicator Jul 1, 03 Jul 1, 04 % ---------------------------- ---------- ---------- ------- Authorized capital (paid) 6,500,000 6,500,000 0.0 Shareholders' equity 27,870,017 38,249,164 +35.1 Total assets 31,135,173 45,399,444 +39.4 Net working capital 7,238,175 15,315,352 +170.9 Accounts receivable 4,647,487 8,060,453 +61.7 Total liabilities 3,265,156 7,150,280 +58.1 Borrowed loans 76,505 2,027,298 +124.9 Accounts payable 3,188,651 2,473,728 -13.9 Sales volume 18,902,316 32,272,041 +129.9 Cost of goods sold 11,212,204 12,755,225 +27.8 Net income 4,305,560 11,196,494 +346.9 Book value of one share, KZT 4,287.69 5,884.49 +35.1 ------------------------------------------------------------- Relative to similar period of 2003 there is increase of: - shareholders' equity - by KZT10.4 bn. as the result of increase of total sum of undistributed income by 11.0 bn., while additional unpaid capital fell by 570.9 m.; - assets - by KZT14.3 bn., including: residual value of fixed assets - by 3.3 bn., construction in process - by 1.8 bn., accounts receivable - by 3.4 bn., funds - by 5.4 bn. and other assets - by 346.8 m.; - liabilities - by KZT3.9 bn, because of growth of the sum of deferred taxes by 2.1 bn., borrowed loans - by 1.9 bn. and other liabilities - by 569.8 m., whereas accounts payable decreased by 714.9 m.; - sales volume - by KZT13.4 bn.; - cost of goods sold - by KZT1.5 bn. Net income, which SSOMPA JSC received in the first half of 2004, exceeded its net income of similar period of 2003 by KZT6.9 bn. 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. [2004-09-07]