[TWS] QoQ Annualized Quarter Result on 31-Dec-2003 [#4]

Announcement Date
24-Feb-2004
Admission Sponsor
-
Sponsor
-
Financial Year
31-Dec-2003
Quarter
31-Dec-2003 [#4]
Profit Trend
QoQ- 0.18%
YoY- 24.62%
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Annualized Quarter Result
30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 CAGR
Revenue 846,704 825,450 774,108 776,636 745,160 765,098 736,216 9.74%
PBT 109,808 105,976 113,064 110,894 111,800 105,550 114,372 -2.67%
Tax -34,120 -32,050 -34,160 -26,609 -27,668 -29,268 -34,044 0.14%
NP 75,688 73,926 78,904 84,285 84,132 76,282 80,328 -3.87%
-
NP to SH 75,688 73,926 78,904 84,285 84,132 76,282 80,328 -3.87%
-
Tax Rate 31.07% 30.24% 30.21% 23.99% 24.75% 27.73% 29.77% -
Total Cost 771,016 751,524 695,204 692,351 661,028 688,816 655,888 11.35%
-
Net Worth 957,463 936,672 940,322 918,916 898,449 889,729 870,200 6.55%
Dividend
30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 CAGR
Div 31,619 - - 59,284 39,535 - - -
Div Payout % 41.78% - - 70.34% 46.99% - - -
Equity
30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 CAGR
Net Worth 957,463 936,672 940,322 918,916 898,449 889,729 870,200 6.55%
NOSH 296,428 296,415 296,631 296,424 296,517 296,576 296,632 -0.04%
Ratio Analysis
30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 CAGR
NP Margin 8.94% 8.96% 10.19% 10.85% 11.29% 9.97% 10.91% -
ROE 7.91% 7.89% 8.39% 9.17% 9.36% 8.57% 9.23% -
Per Share
30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 CAGR
RPS 285.64 278.48 260.97 262.00 251.30 257.98 248.19 9.79%
EPS 25.53 24.94 26.60 28.43 28.37 25.74 27.08 -3.84%
DPS 10.67 0.00 0.00 20.00 13.33 0.00 0.00 -
NAPS 3.23 3.16 3.17 3.10 3.03 3.00 2.9336 6.60%
Adjusted Per Share Value based on latest NOSH - 296,560
30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 CAGR
RPS 285.61 278.44 261.12 261.97 251.35 258.08 248.34 9.74%
EPS 25.53 24.94 26.62 28.43 28.38 25.73 27.10 -3.89%
DPS 10.67 0.00 0.00 20.00 13.34 0.00 0.00 -
NAPS 3.2297 3.1595 3.1719 3.0996 3.0306 3.0012 2.9353 6.56%
Price Multiplier on Financial Quarter End Date
30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 CAGR
Date 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 -
Price 2.54 2.68 2.70 2.45 2.40 2.03 1.69 -
P/RPS 0.89 0.96 1.03 0.94 0.96 0.79 0.68 19.59%
P/EPS 9.95 10.75 10.15 8.62 8.46 7.89 6.24 36.37%
EY 10.05 9.31 9.85 11.61 11.82 12.67 16.02 -26.65%
DY 4.20 0.00 0.00 8.16 5.56 0.00 0.00 -
P/NAPS 0.79 0.85 0.85 0.79 0.79 0.68 0.58 22.80%
Price Multiplier on Announcement Date
30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 CAGR
Date 26/11/04 20/08/04 25/05/04 24/02/04 18/11/03 27/08/03 28/05/03 -
Price 2.65 2.66 2.64 2.54 2.56 2.38 1.76 -
P/RPS 0.93 0.96 1.01 0.97 1.02 0.92 0.71 19.65%
P/EPS 10.38 10.67 9.92 8.93 9.02 9.25 6.50 36.50%
EY 9.64 9.38 10.08 11.19 11.08 10.81 15.39 -26.72%
DY 4.03 0.00 0.00 7.87 5.21 0.00 0.00 -
P/NAPS 0.82 0.84 0.83 0.82 0.84 0.79 0.60 23.08%

PBT = Profit before Tax, NP = Net Profit, NP to SH = Net Profit Attributable to Shareholder, Div = Dividend, NP Margin = Net Profit Margin, ROE = Return on Equity, NOSH = Number of Shares, RPS = Revenue per Share, EPS = Earning Per Share, DPS = Dividend Per Share, NAPS = Net Asset Per Share, EOQ = End of Quarter, ANN = Announcement, P/RPS = Price/Revenue per Share, P/EPS = Price/Earning per Share, P/NAPS = Price/Net Asset per Share, EY = Earning Yield, DY = Dividend Yield.

NOSH is estimated based on the NP to SH and EPS. Div is an estimated figure based on the DPS and NOSH. Net Worth is an estimated figure based on the NAPS and NOSH.

Div Payout %, NP Margin, ROE, DY, QoQ & YoY figures in Percentage; RPS, EPS & DPS's figures in Cent; and NAPS's figures in Dollar.

All figures in '000 unless specified.

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