Results of activity of GLOTUR JSC (Kazakhstan) in QI, 2005

/IRBIS, Galina Tsalyuk, August 15, 05/ - GLOTUR JSC (Almaty), whose securities are circulating in Kazakhstan stock exchange's (KASE) official "A" listing category, has provided KASE with financial statement for the I quarter of 2005. Following is the 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 Change, Ratio Apr 1, 04 Apr 1, 05 % ---------------------------- --------- --------- ---------- Authorized capital (paid) 100 354,227 +354,127.0 Shareholders' equity 7,167 1,326,705 +18,411.3 Total assets 399,744 2,417,743 +504.8 Net working capital 62,503 46,276 -26.0 Accounts receivable 207,419 708,418 +241.5 Total liabilities 392,577 1,091,038 +177.9 Loans borrowed 90,000 24,000 -73.3 Accounts payable 302,577 1,061,897 +251.0 Sales volume 545,376 750,065 +37.5 Cost of goods sold 503,729 655,038 +30.0 Expenses of the period 34,112 86,954 +154.9 Net income of the period 4,888 4,718 -3.5 Book value of one share, KZT 71,670.00 3,745.35 -94.8 -------------------------------------------------------------- Relative to the I quarter of 2004 there is growth of: - shareholders' equity - by KZT1.3 bn. because of formation of additional unpaid capital in the amount of 955.5 m., growth of paid authorized capital by 354.1 m. and total amount of undistributed income - by 9.9 m.; - assets - by KZT2.0 bn., including: residual value of fixed assets - by 1.2 bn., accounts receivable - by 501.0 m., inventory - by 224.4 m. and other assets - by 52.5 m.; - liabilities - by KZT698.5 m. due to growth of accounts payable by 759.3 m. and formation of deferred taxes in the amount of 5.1 m., while borrowed loans volume fell by 66.0 m.; - sales volume - by KZT204.7 m.; - cost of goods sold - by KZT151.3 m.; - expenses of the period - by KZT52.8 m. Net income, which the company earned in the I quarter of 2005, is less than its net income of similar period of 2004 by KZT170.0 th. Company's primary activities - production, sale and service of computing, telecommunication and other systems; development, designing, set up and introduction of software tools, telecommunication systems; system integration; working up and realization of projects "turnkey"; consultations and teaching; wholesale-retail trade; dealing and distributing; electronic and other equipment rolling and teaching its usage instructions, other activities. [2005-08-15]