[TM] QoQ Annualized Quarter Result on 30-Sep-2003 [#3]

Announcement Date
21-Nov-2003
Admission Sponsor
-
Sponsor
-
Financial Year
31-Dec-2003
Quarter
30-Sep-2003 [#3]
Profit Trend
QoQ- 6.51%
YoY- 20.09%
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Annualized Quarter Result
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Revenue 13,001,262 13,028,176 11,796,350 11,461,788 10,577,858 9,351,944 9,834,138 20.47%
PBT 3,414,992 2,824,284 1,810,452 1,732,204 1,687,192 1,724,640 1,530,334 70.84%
Tax -496,428 -795,760 -420,038 -544,665 -572,270 -606,248 -686,058 -19.41%
NP 2,918,564 2,028,524 1,390,414 1,187,538 1,114,922 1,118,392 844,276 128.79%
-
NP to SH 2,918,564 2,028,524 1,390,414 1,187,538 1,114,922 1,118,392 844,276 128.79%
-
Tax Rate 14.54% 28.18% 23.20% 31.44% 33.92% 35.15% 44.83% -
Total Cost 10,082,698 10,999,652 10,405,936 10,274,249 9,462,936 8,233,552 8,989,862 7.95%
-
Net Worth 14,210,627 13,660,595 12,468,442 11,867,964 11,417,498 14,075,216 13,651,822 2.71%
Dividend
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Div 661,805 - 637,804 - - - 315,313 64.00%
Div Payout % 22.68% - 45.87% - - - 37.35% -
Equity
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Net Worth 14,210,627 13,660,595 12,468,442 11,867,964 11,417,498 14,075,216 13,651,822 2.71%
NOSH 3,309,029 3,293,058 3,189,023 3,180,907 3,167,391 3,177,249 3,153,137 3.27%
Ratio Analysis
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
NP Margin 22.45% 15.57% 11.79% 10.36% 10.54% 11.96% 8.59% -
ROE 20.54% 14.85% 11.15% 10.01% 9.77% 7.95% 6.18% -
Per Share
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
RPS 392.90 395.63 369.90 360.33 333.96 294.34 311.88 16.66%
EPS 88.20 61.60 43.60 37.33 35.20 35.20 26.80 121.41%
DPS 20.00 0.00 20.00 0.00 0.00 0.00 10.00 58.80%
NAPS 4.2945 4.1483 3.9098 3.731 3.6047 4.43 4.3296 -0.54%
Adjusted Per Share Value based on latest NOSH - 3,203,778
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
RPS 338.84 339.54 307.44 298.72 275.68 243.73 256.30 20.47%
EPS 76.06 52.87 36.24 30.95 29.06 29.15 22.00 128.81%
DPS 17.25 0.00 16.62 0.00 0.00 0.00 8.22 63.98%
NAPS 3.7036 3.5603 3.2496 3.0931 2.9757 3.6683 3.558 2.71%
Price Multiplier on Financial Quarter End Date
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Date 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 -
Price 5.15 5.15 4.20 3.67 3.92 3.58 3.95 -
P/RPS 1.31 1.30 1.14 1.02 1.17 1.22 1.27 2.09%
P/EPS 5.84 8.36 9.63 9.83 11.14 10.17 14.75 -46.11%
EY 17.13 11.96 10.38 10.17 8.98 9.83 6.78 85.60%
DY 3.88 0.00 4.76 0.00 0.00 0.00 2.53 33.02%
P/NAPS 1.20 1.24 1.07 0.98 1.09 0.81 0.91 20.27%
Price Multiplier on Announcement Date
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Date 24/08/04 26/05/04 26/02/04 21/11/03 26/08/03 27/05/03 27/02/03 -
Price 5.05 4.75 5.25 4.18 3.95 3.78 3.95 -
P/RPS 1.29 1.20 1.42 1.16 1.18 1.28 1.27 1.04%
P/EPS 5.73 7.71 12.04 11.20 11.22 10.74 14.75 -46.79%
EY 17.47 12.97 8.30 8.93 8.91 9.31 6.78 88.05%
DY 3.96 0.00 3.81 0.00 0.00 0.00 2.53 34.84%
P/NAPS 1.18 1.15 1.34 1.12 1.10 0.85 0.91 18.93%

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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