Results of activity of Corporation Ordabasy JSC (Kazakhstan) in 9 months of 2004

/IRBIS, Galina Tsalyuk, November 19, 04/ - Corporation Ordabasy JSC (Almaty), whose securities are circulating in the official "A" listing category of Kazakhstan stock exchange Inc. (KASE), provided KASE with consolidated financial statement for 9 months of 2004. Following indicators are result of the issuer's financial and economic activity in 9 months of 2004, based upon the issuer's data (th. KZT, unless otherwise specified): ------------------------------------------------------------------ As of As of Indicator Oct 1, 03 Oct 1, 04 Change,% -------------------------------- ---------- ---------- -------- Authorized capital (paid) 1,452,792 2,993,123 +106.0 Shareholders' equity 1,916,159 5,110,094 +166.7 Total assets 8,259,917 14,730,497 +78.3 Net working capital 2,582,173 -1,772 -100.1 Accounts receivable 5,074,709 5,205,536 +2.6 Total liabilities 5,994,361 9,398,632 +56.8 Borrowed loans (excluding bonds) 2,834,636 3,347,083 +18.1 Issued bonds 1,492,279 1,345,325 -9.8 Accounts payable 1,667,446 4,706,224 +182.2 Stake of minority 349,397 221,771 -36.5 Sales volume 4,179,529 7,386,903 +76.7 Cost of goods sold 3,383,107 5,481,040 +62.0 Net income for the period 69,484 384,737 +453.7 Book value of one share, KZT 131,894.20 n/d - ------------------------------------------------------------------ Relative to 9 months of 2003 there is increase of: - shareholders' equity - by KZT3.2 bn. in accordance with increase of paid authorized capital by 1.5 bn., additional unpaid capital - by 1.2 bn., total sum of undistributed income - by 358.6 m. and other entries of equity - by 107.4 m.; - assets - by KZT6.5 bn., including: long-term investments - by KZT2.9 bn., funds - by 1.5 bn., residual value of fixed assets - by 998.2 m., construction in process - by 735.0 m. and other assets - by 365.4 m.; - liabilities - by KZT3.4 bn. because of growth of accounts payable - by 3.0 bn. and borrowed loans volume (excluding bonds) - by 512.4 m., while liabilities on bonds fell by 146.9 m.; - sales volume - by KZT3.2 bn.; - cost of goods sold - by KZT2.1 bn. Net income, which Corporation Ordabasy JSC received in 9 months of 2004, exceeded its net income of similar period of 2003 by KZT315.2 m. Company's primary activities - trade-intermediary activity, production of oil and gas equipment, production and distribution of heat- and electrical energy, agriculture, investing activity [2004-11-19]