Results of activity of TNC Kazchrome JSC (Kazakhstan) in the I half of 2004

/IRBIS, Galina Tsalyuk, September 29, 04/ - TNC Kazchrome JSC (Aktobe), whose shares are circulating the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with the financial statements for the I half of 2004. Following indicators are the result of the issuer's financial and economic activity for 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) 7,903,485 7,903,485 0.0 Shareholders' equity 44,368,295 66,815,394 +50.6 Total assets 53,939,531 73,576,556 +36.4 Net working capital 10,107,831 28,203,424 +179.0 Accounts receivable 5,991,139 11,095,509 +85.2 Liabilities, total 9,571,236 6,761,162 -29.4 Accounts payable 5,086,948 3,589,589 -29.4 Borrowed loans 2,912,264 1,048,952 -64.0 Sales volume 36,220,698 56,767,628 +56.7 Cost of goods sold 19,312,316 26,358,680 +36.5 Net income for the period 8,143,027 18,170,312 +123.1 Book value of one share, KZT 5,613.76 8,453.92 +50.6 ------------------------------------------------------------- Relative to the I half of 2003 there is increase of: - shareholders equity - by KZT22.4 bn. as the result of increase of total sum of undistributed income by 22.6 bn., whereas there took place decrease of additional unpaid capital by 177.2 m; - assets - by KZT19.6 bn., including: residual value of fixed assets - by 3.3 bn., accounts receivable - by 5.1 bn., inventory - by 3.2 bn., funds - by 7.2 bn. and other assets - by 828.2 m.; - sales volume - by KZT20.5 bn.; - cost of goods sold - by KZT7.0 bn. Liabilities of TNC Kazchrome JSC fell by KZT2.8 bn. relative to the I half of 2003 that was caused by decrease of borrowed loans volume by 1.9 bn. and accounts payable by 1.5 m., whereas sum of deferred taxes grew by 550.6 m. Net income TNC Kazchrome JSC earned in the I half of 2004 exceeded the net income of similar period of 2003 by KZT10.0 bn. Company's primary activities - ferrous metals production, extraction and concentrating of ore raw stuff for ferrous metallurgy. [2004-09-29]