Results of activity of Chimfarm JSC (Kazakhstan) in the I quarter of 2005

/IRBIS, Galina Tsalyuk, July 18, 05/ - Chimfarm JSC (Shymkent), whose securities are circulating in the official list of Kazakhstan stock exchange Inc. (KASE): shares - in "B" category, bonds - in "A" category, provided KASE with the financial statement for the I quarter of 2005. Following indicators are result of the issuer's financial and economic activity in the I quarter of 2005, based upon the issuer's data (th. KZT, unless otherwise specified): --------------------------------------------------------------------- As of As of Indicator Apr 1, 04 Apr 1, 05 Change,% ------------------------------------- --------- --------- -------- Authorized capital (paid) 1,557,675 1,557,675 0.0 Shareholders' equity 1,917,774 1,886,816 -1.6 Total assets 4,317,880 5,582,354 +29.3 Net working capital 1,405,185 1,865,474 +32.8 Accounts receivable 497,642 1,584,637 +218.4 Total liabilities 2,400,106 3,695,538 +54.0 Borrowed loans (excluding bonds) 1,996,185 1,286,500 -35.6 Floated bonds - 1,483,030 - Accounts payable 403,921 373,825 -7.5 Sales volume 523,477 501,025 -4.3 Cost of goods sold 325,347 319,458 -1.8 Expenses of the period 168,127 206,328 +22.7 Income (loss) from secondary activity (16,214) 39,954 - Net income for the period 13,789 15,193 +10.2 Book value of one share, KZT 365.66 359.76 -1.6 --------------------------------------------------------------------- Relative to the I quarter of 2004 there are following changes: - shareholders equity decreased by KZT31.0 m. as the result of falling of total sum of undistributed income by 606.4 m. that was partially compensated by growth of additional unpaid capital by 560.8 m. and formation of additional paid capital in the amount of 14.6 m.; - assets grew by KZT1.3 bn. because of growth of accounts receivable by 1.1 bn. and residual value of fixed assets (including construction in process) - by 873.7 m., whereas investments fell by 471.1 m. and other assets - by 225.1 m.; - liabilities grew by KZT1.3 bn. as a result of bonds floatation for 1.5 bn. and formation of deferred tax in the amount of 552.2 m. that was partially covered by falling of borrowed loans volume by 709.7 m. and accounts payable - by 30.1 m.; - sales volume fell by KZT22.5 m.; - cost of goods sold fell by KZT5.9 m.; - expenses of the period grew by KZT38.2 m. Net income, which Chimfarm JSC received in the I quarter of 2005, is higher than its net income of similar period of 2004 by KZT1.4 m. Company's primary activities - production of drugs; quality control and conducting of certification tests of drugs, ethyl alcohol and distillery production by the laboratory, which has passed accreditation; sale of chemical-pharmaceutical preparations, medical, sanitary-hygienic means and medical makings; preparation, purchasing of medical raw stuff; production and sale of other goods. [2005-07-19]