Results of activity of Aktobemunai-finance OJSC (Kazakhstan) in I half of 2004

/IRBIS, Galina Tsalyuk, October 6, 04/ - Aktobemunai-finance OJSC (Aktobe), whose shares are circulating in the official "B" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with non-audited consolidated financial statement for the first 6 months of 2004. The following indicators are consolidated result of the issuer's financial and economic activity for the period, based upon the issuer's information (in th. KZT, unless otherwise specified): ----------------------------------------------------------- As of As of Change, Indicator Jul 1, 03 Jul 1, 04 % ---------------------------- --------- --------- ------- Authorized capital (paid-up) 1,300,000 1,300,000 0.0 Shareholders' equity 1,255,774 1,134,579 -9.7 Total assets 2,692,643 3,444,079 +27.9 Net working capital -246,264 -32,168 +86.9 Accounts receivable 743,419 599,854 -19.3 Liabilities, total 1,153,718 2,009,169 +74.1 Attracted credits 872,776 1,346,742 +54.3 Accounts payable 280,921 662,427 +135.8 Minority stake 283,151 300,331 +6.1 Sales volume 618,755 708,781 +14.5 Cost of goods sold 489,790 579,146 +18.2 Net income (loss) (55,461) (43,798) +21.0 Book value of one share, KZT 96.60 87.28 -9.7 ----------------------------------------------------------- Relative to the first 6 months of 2003 shareholders equity of Aktobemunai- finance OJSC has decreased by KZT 121.2 m including total sum of uncovered loss by 116.7 m, additional unpaid capital - 3.3 m and reserve capital - 1.2 m. Other items recorded increase: - company's assets - by KZT 751.4 m as the result of increase of depreciated cost of fixed assets (including construction in progress) - 775.6 m, cash - 122.7 m, investments - 102.6 m, while accounts receivable fell by KZT 143.6 m, other assets - by 105.8 m; - liabilities - by KZT 855.4 m, including: attracted credits - by KZT 474.0 m., accounts payable - by 381.5 m; - sales volume - by KZT 90.0 m; - cost of goods sold - by KZT 89.3 m; According to results of activity for the reported period, net loss fell by KZT 11.7 m compared to similar period of 2003. Company's primary activities - production and sale of electrical energy, gas transportation and commercial activity. [2004-10-06]