Results of activity of Ust-Kamenogorsk Poultry Farm OJSC (Kazakhstan) in first 6 months of 2004

/IRBIS, Galina Tsalyuk, September 15, 02/ - Ust-Kamenogorsk Poultry Farm OJSC (UKBF OJSC, East Kazakhstan oblast, Molodezhniy set-t), whose bonds are circulating in the official "B" listing category of Kazakhstan stock exchange JSC (KASE), presented KASE non-audited financial statement for the first 6 months of 2004. According to the issuer's data the result of the company's financial and economic activity for the period is as follows (th. KZT, unless otherwise specified): ------------------------------------------------------------------------- As of As of Change, Indicator Jul 1, 03 Jul 1, 04 % --------------------------------------------- --------- --------- ------- Authorized capital (paid excluding withdrawn) 274,027 253,053 -7.7 Shareholders' equity 1,220,424 1,334,815 +9.4 Total assets 2,055,573 2,150,804 +4.6 Net working capital 295,901 163,256 -44.8 Accounts receivable 224,019 174,858 -21.9 Total liabilities 835,149 815,988 -2.3 Borrowed loans (excluding bonds) 338,515 305,013 -9.9 Accounts payable 302,618 323,769 +7.0 Bonds floated 155,000 155,000 0.0 Sales volume 518,552 461,388 -11.0 Cost of goods sold 365,018 382,654 +4.8 Net income for the period 60,127 8,385 -86.1 ------------------------------------------------------------------------- Relative to similar period of 2003 the following changes occurred: - shareholders' equity increased by 114.4 m., including growth of retained earnings - 170.8 m and additional paid-up capital - by 3.1 m, and decrease of additional unpaid capital - 38.6 m, and withdrawn (redemption) of shares for 21.0 m; - assets grew by 95.2 m, including: depreciated cost of fixed assets - 124.0 m, inventories - by 121.3 m, and decrease of accounts receivable - 49.2 m, cash - 85.3 m, and other assets by 15.6 m. - liabilities decreased by 19.2 m including volume of borrowed credits - 33.5 m; deferred taxes - 6.8 m and increase of accounts payable - 21.1 m; - sales volume decreased by 57.2 m; - cost of goods sold increased by 17.6 m; Net income, which UKPF OJSC earned in 6 months of 2004, lowered compared to similar period of 2003 by KZT 51.7 m. Company's primary activities: raising and growing of hens "broiler", processing, packing and sale of hen's meat and derivative production, conducting of activity, which accompanies to the primary one (for example, public utilities for population and organizations). [2004-09-15]