Results of activity of UKTMC JSC (Kazakhstan) for 9 months of 2004

/IRBIS, Galina Tsalyuk, November 17, 04/ - Ust-Kamenogorsk titanium magnesium combine (UKTMC JSC, Ust-Kamenogorsk), whose shares are circulating in the official listing of Kazakhstan stock exchanges (KASE) "A" category, provided KASE with the financial statement for 9 months of 2004. The following indicators are results of company's financial and economic activity for 9 months of 2004, based upon company's information (in th. KZT, if otherwise specified): --------------------------------------------------------------- As of As of Indicator Oct. 01, 03 Oct. 01, 04 Change,% ------------------------------ ----------- ----------- -------- Authorized capital (paid) 21,582 157,549 +630.0 Shareholders' equity 7,456,606 8,279,709 +11.0 Total assets 8,371,930 9,084,673 +8.5 Net working capital 2,759,126 3,421,171 +24.0 Accounts receivables 989,084 1,158,839 +17.2 Total liabilities, 915,324 804,964 -12.1 Attracted credits 862,482 630,720 -26.9 Accounts payable - 151,111 - Sales volume 6,728,038 8,757,737 +30.2 Cost of goods sold 5,842,839 7,331,857 +25.5 Net income for the period 45,306 490,429 +982.5 Book value of one share, tenge 6,910.02 4,063.55 -41.2 --------------------------------------------------------------- Relative to 9 months of 2003 there is the growth in: - Shareholders' equity of the company by KZT823.1m in connection with increase of paid chartered capital by 136.0 m. and total sum of undistributed income - by 805.8 m. what was partially covered with the decrease of additional unpaid capital by 118.7m; - assets - KZT712.7m. what was caused by money increase and their equivalent by 884.3 m., depreciated cost of fixed assets - by 181.5 m., accounts receivable by 169.7m., and other assets - by 2.7 m. with decrease of inventories - by 525.5m; - sales volume - by KZT2.0 bn.; - cost of goods sold - by 1.5 bn. Liabilities of the company decreased by KZT110.4 m. in comparison with 9 months of 2003 in the result of reduce of accounts payable by KZT231.8 m. and amount of deferred taxes - by 29.7 m., what partially was compensated with attracted loans for the amount of 151.1 m. Net profit earned by UKTMC JSC for 9 months of 2004 exceeded its net profit for the similar period of 2003 by KZT445.1 m. The main activities of the company - production and realization of non- ferrous metals (titanium sponges of high quality, commercial magnesium). [2004-11-17]