Results of activity of Sokolovsk-Sarbay ore mining and processing group JSC (Kazakhstan) in 9 months of 2004

/IRBIS, Galina Tsalyuk, November 9, 04/ - Sokolovsk-Sarbay ore mining and processing group JSC (Rudniy, Kostanai oblast), whose common shares are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, provided KASE with the financial statement for 9 months of 2004. The following indicators are result of the issuer's financial and economic activity in 9 months of 2004, based upon the issuer's information (th. KZT, unless otherwise specified): -------------------------------------------------------------- As of As of Change, Indicator Oct 1, 03 Oct 1, 04 % ---------------------------- ---------- ---------- -------- Authorized capital (paid) 6,500,000 6,500,000 0.0 Shareholders' equity 27,158,158 44,553,982 +64.1 Total assets 32,938,690 52,045,950 +58.0 Net working capital 5,095,566 18,894,297 +270.8 Accounts receivable 5,035,914 8,440,952 +67.6 Total liabilities 5,780,532 7,491,968 +29.6 Borrowed loans 66,465 1,765,250 +2,555.9 Accounts payable 5,714,067 3,647,264 -36.2 Sales volume 28,791,114 54,462,639 +89.2 Cost of goods sold 17,137,944 21,063,103 +22.9 Net income 5,128,635 17,501,312 +241.2 Book value of one share, KZT 4,178.18 6,854.46 +64.1 -------------------------------------------------------------- Relative to similar period of 2003 there is increase of: - shareholders' equity - by KZT17.4 bn. as the result of increase of total sum of undistributed income by 17.9 bn., while additional unpaid capital fell by KZT558.8 m.; - assets - by KZT19.1 bn., including: residual value of fixed assets - by 4.0 bn., construction in process - by 1.7 bn., accounts receivable - by 3.4 bn., funds - by 8.6 bn. and other assets - by 1.4 bn.; - liabilities - by KZT1.7 bn., because of growth of the sum of deferred taxes by 2.1 bn. and borrowed loans - by 1.7 bn., whereas accounts payable fell by 2.1 bn.; - sales volume - by KZT25.7 bn.; - cost of goods sold - by KZT3.9 bn. Net income, which SSOMPG JSC received in 9 months of 2004 has exceeded its net income of similar period of 2003 by KZT12.7 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. [2004-11-09]