Audited financial statements of Food Contract Corporation JSC (Kazakhstan) for 2004

/IRBIS, Galina Tsalyuk, May 17, 05/ - Food Contract Corporation JSC (Astana, the Company), whose securities are circulating in the official "A" listing category of Kazakhstan stock exchange (KASE), provided KASE with auditor's report of Deloitte & Touche LLP (Almaty), made on financial statements of the company for 2004, prepared according to international financial reporting standards (IFRS). According to audited financial statements and consolidated results of economic activity of the company as of December 31, 2004 is presented by the following indexes (in th. USD, unless otherwise specified): ----------------------------------------------------------------------- Indicator 2003 2004 ------------------------------------------------- --------- --------- Authorized capital (paid minus omitted) 100,000 500,000 Weighted average number of common shares 900,000 2,900,000 Shareholders' equity 1,303,089 1,779,190 Total assets 3,434,932 3,663,338 Net working capital -735,709 740,185 Accounts receivable (net) 513,247 926,627 Liabilities, total 2,131,843 1,884,148 Borrowed loans (including eurobonds) 1,210,939 288,444 Issued bonds - 1,051,886 Accounts payable 484,586 131,847 Volume of sales 1,362,448 1,542,405 Cost of goods sold 844,014 932,740 Net income 29,463 86,101 ------------------------------------------------- --------- --------- It's been calculated according to auditor's data: ------------------------------------------------- --------- --------- Return on sales (ROS), % 38.05 39.53 Return on equity (ROE), % 2.26 4.84 Return on assets (ROA), % 0.86 2.35 ----------------------------------------------------------------------- Audit was performed by Deloitte & Touche company according to international standards on audit. Consolidated financial statements of the Group were restated in order to bring it in compliance with IFRS. Consolidated financial statement of the Group includes financial statements of the Company and following daughter companies in which the Company maintains 50-100% stake - Expert agrarian corporation LLP (grain trading, 100%), Bidai Onimderi LLP (grain trading, 100%), Astyk Koimalary LLP (grain trading, 100%), Kazastyktrans LLP (transportation services, 50.0%), Ak Bidai terminal LLP (grain terminal, 51.0%). In the opinion of Deloitte & Touche the financial statements present fairly, in all material respects, the financial position of the Company as at December 31, 2004 and the results of its operations and its cash flows for the year then ended in accordance with International Financial Reporting Standards. [2005-05-18]