[WTHORSE] QoQ Cumulative 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- 73.29%
YoY- 19.23%
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Cumulative Result
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Revenue 195,760 86,492 324,910 230,224 140,040 61,260 273,741 -20.04%
PBT 37,745 13,498 48,741 35,284 20,502 8,430 38,459 -1.24%
Tax -4,324 -1,202 -4,809 -3,954 -2,422 -1,211 -5,389 -13.66%
NP 33,421 12,296 43,932 31,330 18,080 7,219 33,070 0.70%
-
NP to SH 33,421 12,296 43,932 31,330 18,080 7,219 33,070 0.70%
-
Tax Rate 11.46% 8.91% 9.87% 11.21% 11.81% 14.37% 14.01% -
Total Cost 162,339 74,196 280,978 198,894 121,960 54,041 240,671 -23.10%
-
Net Worth 379,838 373,913 361,767 342,784 330,907 330,970 324,076 11.17%
Dividend
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Div 19,111 - 16,770 11,985 11,989 - - -
Div Payout % 57.18% - 38.17% 38.26% 66.31% - - -
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 379,838 373,913 361,767 342,784 330,907 330,970 324,076 11.17%
NOSH 238,892 239,688 239,581 239,709 239,787 239,833 240,056 -0.32%
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 17.07% 14.22% 13.52% 13.61% 12.91% 11.78% 12.08% -
ROE 8.80% 3.29% 12.14% 9.14% 5.46% 2.18% 10.20% -
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 81.94 36.09 135.62 96.04 58.40 25.54 114.03 -19.78%
EPS 13.99 5.13 18.39 13.07 7.54 3.01 13.80 0.91%
DPS 8.00 0.00 7.00 5.00 5.00 0.00 0.00 -
NAPS 1.59 1.56 1.51 1.43 1.38 1.38 1.35 11.53%
Adjusted Per Share Value based on latest NOSH - 239,602
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
RPS 88.98 39.31 147.69 104.65 63.65 27.85 124.43 -20.04%
EPS 15.19 5.59 19.97 14.24 8.22 3.28 15.03 0.70%
DPS 8.69 0.00 7.62 5.45 5.45 0.00 0.00 -
NAPS 1.7265 1.6996 1.6444 1.5581 1.5041 1.5044 1.4731 11.17%
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 1.80 1.98 1.77 1.55 1.57 1.33 1.50 -
P/RPS 2.20 5.49 1.31 1.61 2.69 5.21 1.32 40.61%
P/EPS 12.87 38.60 9.65 11.86 20.82 44.19 10.89 11.79%
EY 7.77 2.59 10.36 8.43 4.80 2.26 9.18 -10.53%
DY 4.44 0.00 3.95 3.23 3.18 0.00 0.00 -
P/NAPS 1.13 1.27 1.17 1.08 1.14 0.96 1.11 1.19%
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 19/08/04 20/05/04 24/02/04 21/11/03 21/08/03 28/05/03 21/02/03 -
Price 1.85 1.90 1.88 1.66 1.59 1.50 1.45 -
P/RPS 2.26 5.27 1.39 1.73 2.72 5.87 1.27 46.90%
P/EPS 13.22 37.04 10.25 12.70 21.09 49.83 10.53 16.39%
EY 7.56 2.70 9.75 7.87 4.74 2.01 9.50 -14.13%
DY 4.32 0.00 3.72 3.01 3.14 0.00 0.00 -
P/NAPS 1.16 1.22 1.25 1.16 1.15 1.09 1.07 5.53%

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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