Results of activity of Food Contract Corpoartion JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, May 18, 05/ - Food Contract Corpoartion JSC (Astana), whose bonds are circulating in the official "A" listing category of Kazakhstan stock exchange (KASE), provided KASE with the financial statement for 2004. Following indicators are result of the issuer's financial and economic activity in 2004, based upon the issuer's data (th. KZT, unless otherwise specified): ------------------------------------------------------------------------- As of As of Pct Indicator Jan. 1, 04 Jan. 1, 05 change, % -------------------------------------- ---------- ---------- --------- Authorized capital (paid) 45,762 491,583 +974.2 Shareholders' equity 10,311,320 10,990,286 +6.6 Total assets 44,233,684 51,271,573 +15.9 Net working capital 9,372,140 22,374,579 +138.7 Accounts receivable 12,408,456 11,222,071 -9.6 Total liabilities 34,069,927 40,231,271 +18.1 Attracted loans (excluding bonds) 31,009,117 29,375,743 -5.3 Issued bonds - 3,000,000 - Accounts payable 1,284,420 7,855,528 +511.6 Minority interest -147,562 50,016 - Volume of sales 33,217,396 31,369,068 -5.6 Cost of goods sold 29,308,512 29,372,927 +0.2 Net income for the period 776,247 475,038 -38.8 -------------------------------------- ---------- ---------- --------- Based on data following was calculated -------------------------------------- ---------- ---------- --------- Return on Sales (ROS), % 11.77 6.36 -45.9 Return on Equity (ROE), % 7.53 4.32 -42.6 Return on Assets (ROA), % 1.75 0.93 -47.2 ------------------------------------------------------------------------- Relative to 2003 following accounts rose: - shareholders equity - by KZT679.0 m. which was primarily due to growth of paid-in capital 445.8 m., reserve capital -by 521.0 m. and additional paid-in capital - by 8.7 m. while total sum of undistributed income decreased by 296.5 m.; - assets - by KZT7.0 bn. as the result of increase in cash by 9.3 bn., other assets - KZ122.2 m., which was partially covered by increase in accounts receivable by 1.2 bn., and inventory by 1.2 bn.; - liabilities declined by KZT6.2 bn., due to floated bonds by KZT3.0 bn and increase in accounts payable by 6.6 bn. while volume of attracted loans shrank by 1.6 bn.; - cost of goods sold - by KZT64.4 bn. Reported Net sales for 2004 exceed sales of 2003 by KZT1.8 bn. Net income the Company reported in 2004 exceeds net income for 2003 by KZT301.2 m. Main types of company's activity - purchase, formation, accounting, storage organization, renovation, replacement, sale of state resources of grain and products of its processing, and also other functions, determined by the Government of the Republic of Kazakhstan. [2005-05-18]