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

/IRBIS, Galina Tsalyuk, August 19, 05/ - TNC Kazchrome JSC (Aktobe, hereinafter - company), whose shares are circulating in Kazakhstan stock exchange's (KASE) official "B" listing category, provided KASE with consolidated financial statement for the I quarter 2005. Following indicators are consolidated result of the company's financial and economic activity in the I quarter of 2005, based upon the company's data (in th. KZT, unless otherwise specified): --------------------------------------------------------- As of As of Change, Indicator Apr 1, 04 Apr 1, 05 % -------------------------- ---------- ----------- ------- Authorized capital (paid) 7,903,485 7,903,485 0.0 Shareholders' equity 52,791,323 90,135,205 +70.7 Total assets 62,560,318 100,036,226 +59.9 Net working capital 15,344,929 42,539,986 +177.2 Accounts receivable 11,238,104 30,573,445 +172.1 Liabilities, total 9,768,995 9,880,691 +1.1 Accounts payable 6,567,987 8,420,078 +28.2 Borrowed loans 1,078,387 86,544 -92.0 Sales volume 22,307,953 34,892,401 +56.4 Cost of goods sold 12,240,477 15,267,490 +24.7 Net income for the period 4,467,467 9,505,930 +112.8 Book value of 1 share, KZT 6,679.50 11,404.49 +70.7 --------------------------------------------------------- Relative to the I quarter 2004 there is growth of: - shareholders' equity of the company - by KZT37.3 bn. as the result of increase of resulting sum of undistributed income by 37.5 bn. with decrease of additional unpaid capital by 156.0 m.; - assets - by KZT37.5 bn., including: accounts receivable - by 19.3 bn., residual value of fixed assets (including construction in progress) - by 10.8 bn., inventory stocks - by 4.0 bn., money - by 1.6 bn. and other assets - by 1.7 bn.; - liabilities - by KZT111.7 m. because of growth of accounts payable by 1.8 bn. with decrease of borrowed loans by 991.8 m. and amount of deferred taxes - by 748.5 m.; - sales volume - by KZT12.6 bn.; - cost of goods sold - by KZT3.0 bn. Net income the company earned in the I quarter 2005 exceeded its net income of the similar period of 2004 by KZT5.0 bn. Company's primary activities - production of ferrous metals, extraction and concentration of ores for ferrous metallurgy. [2005-08-19]