Results of activity of Zhairemskiy GOK JSC (Kazakhstan) for the first 6 months of 2004

/IRBIS, Galina Tsalyuk, September 13, 04/ - Zhairemskiy GOK JSC (Zhairem settlement, Karaganda oblast), whose bonds are 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 result of the issuer's financial and economic activity for the period, based upon the issuer's data (th. KZT): ---------------------------------------------------------- As of As of Indicator Jul 1, 03 Jul 1, 04 Change,% -------------------------- --------- --------- -------- Authorized capital (paid) 640,415 640,415 0.0 Shareholders' equity 4,089,434 4,477,135 +9.5 Total assets 6,505,097 6,104,417 -6.2 Net working capital 110,128 621,000 +463.9 Accounts receivable 558,851 734,260 31.4 Liabilities, total 2,415,663 1,627,282 -32.6 Accounts payable 717,072 857,037 +19.5 Borrowed loans 1,698,591 769,672 -54.7 Sales volume 1,859,643 3,115,706 +67.5 Cost of goods sold 1,032,582 1,492,945 +44.6 Expenditures of the period 564,049 547,055 -3.0 Net income for the period 250,188 934,782 +273.6 ---------------------------------------------------------- Relative to similar period of 2003 following changes occurred: - shareholders' equity increased by KZT 387.7 m. including growth of retained earnings - 424.5 m, and decrease of additional unpaid capital by 36.8 m; - assets decreased by KZT 400.7 m, including fall of depreciated cost of fixed assets by 789.9 m and growth of constructions in progress by 142.8 m; other assets - by 71.0 m, accounts receivable by 175.4 m; - liabilities decreased by KZT 788.4 m, including: loans borrowed - 928.9 m compensated by growth of accounts payable - 140.0 m and deferred income - 573.0 thousands; - sales volume increased by KZT 1.3 bn; - cost of goods sold increased by KZT 460.4 m.; - expenditures of the period decreased by KZT 17.0 m. Net income earned by Zhairemskiy OMPE JSC for the period exceeded net income of similar period of 2003 by KZT 684.6 m. Company's primary activities: search and geological exploration of ore and non-ore fields of mineral raw stuff with calculation of their reserves, development of fields, processing and sale of ore and non-ore mineral raw stuff. [2004-09-13]