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

/IRBIS, Galina Tsalyuk, September 6, 05/ - Ust-Kamenogorsk titanium- magnesium combine (UKTMC JSC, Ust-Kamenogorsk), whose shares are circulating in the official listing of Kazakhstan stock exchanges (KASE) "A" category, provided KASE with the financial statement for the I quarter of 2005. Following indicators are result of the company's financial and economic activity in the I quarter of 2005, based upon company's data (th. KZT, unless otherwise specified): --------------------------------------------------------------- As of As of Indicator Apr 1, 04 Apr 1, 05 Change,% ------------------------------ --------- --------- --------- Authorized capital (paid) 21,582 157,549 +630.0 Shareholders' equity 7,784,855 8,835,689 +13.5 Total assets 8,881,338 9,715,078 +9.4 Net working capital 3,190,808 4,063,558 +27.4 Accounts receivable 989,478 1,715,540 +73.4 Total liabilities 1,096,483 879,389 -19.8 Accounts payable 1,073,350 860,307 -19.8 Sales volume 2,481,753 3,338,931 +34.5 Cost of goods sold 2,213,926 2,792,499 +26.1 Net income for the period 2,154 249,890 +11,501.2 Book value of one share, tenge 7,214.21 4,309.48 -40.3 --------------------------------------------------------------- Relative to the I quarter of 2004 there is the growth of: - shareholders' equity - by KZT1.1 bn. because of growth of total sum of undistributed income by 1.1 bn. and paid authorized capital - by 136.0 m. that was partially covered by falling of other articles of capital by 151.9 m.; - assets - by KZT833.7 m. because of growth of accounts receivable by 726.1 m., inventory - by 238.5 m. and residual value of fixed assets - by 174.7 m., while funds fell by 304.9 m. and other assets - by 708.0 th.; - sales volume - by KZT857.2 m.; - cost of goods sold - by KZT578.6 m. Company's liabilities fell by KZT217.1 m. in comparison with the I quarter of 2004, including: accounts payable - by KZT213.0 m. and amount of deferred taxes - by 4.1 m. Net profit earned by UKTMC JSC in the I quarter of 2005 exceeded its net profit for the similar period of 2004 by KZT247.7 m. Company's primary activities - production and realization of non-ferrous metals (titanium sponges of high quality, commercial magnesium). [2005-09-06]