[WTHORSE] QoQ TTM 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- 7.3%
YoY- 0.11%
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TTM Result
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Revenue 380,630 350,142 324,910 301,704 280,842 272,814 273,741 24.60%
PBT 64,686 52,512 47,444 43,767 40,783 39,957 38,717 40.84%
Tax -6,710 -4,800 -4,809 -5,643 -5,252 -5,708 -5,532 13.74%
NP 57,976 47,712 42,635 38,124 35,531 34,249 33,185 45.10%
-
NP to SH 57,976 47,712 42,635 38,124 35,531 34,249 33,185 45.10%
-
Tax Rate 10.37% 9.14% 10.14% 12.89% 12.88% 14.29% 14.29% -
Total Cost 322,654 302,430 282,275 263,580 245,311 238,565 240,556 21.64%
-
Net Worth 379,963 373,913 239,711 342,631 330,864 330,970 240,318 35.75%
Dividend
30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 31/03/03 31/12/02 CAGR
Div - 7,192 7,192 7,192 7,192 11,192 11,192 -
Div Payout % - 15.08% 16.87% 18.87% 20.24% 32.68% 33.73% -
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 379,963 373,913 239,711 342,631 330,864 330,970 240,318 35.75%
NOSH 238,970 239,688 239,711 239,602 239,757 239,833 240,318 -0.37%
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 15.23% 13.63% 13.12% 12.64% 12.65% 12.55% 12.12% -
ROE 15.26% 12.76% 17.79% 11.13% 10.74% 10.35% 13.81% -
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 159.28 146.08 135.54 125.92 117.14 113.75 113.91 25.07%
EPS 24.26 19.91 17.79 15.91 14.82 14.28 13.81 45.63%
DPS 0.00 3.00 3.00 3.00 3.00 4.67 4.66 -
NAPS 1.59 1.56 1.00 1.43 1.38 1.38 1.00 36.26%
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 158.60 145.89 135.38 125.71 117.02 113.67 114.06 24.60%
EPS 24.16 19.88 17.76 15.89 14.80 14.27 13.83 45.09%
DPS 0.00 3.00 3.00 3.00 3.00 4.66 4.66 -
NAPS 1.5832 1.558 0.9988 1.4276 1.3786 1.379 1.0013 35.75%
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 1.13 1.36 1.31 1.23 1.34 1.17 1.32 -9.85%
P/EPS 7.42 9.95 9.95 9.74 10.59 9.31 10.86 -22.44%
EY 13.48 10.05 10.05 10.27 9.44 10.74 9.21 28.93%
DY 0.00 1.52 1.69 1.94 1.91 3.51 3.11 -
P/NAPS 1.13 1.27 1.77 1.08 1.14 0.96 1.50 -17.22%
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 1.16 1.30 1.39 1.32 1.36 1.32 1.27 -5.86%
P/EPS 7.63 9.54 10.57 10.43 10.73 10.50 10.50 -19.18%
EY 13.11 10.48 9.46 9.59 9.32 9.52 9.52 23.80%
DY 0.00 1.58 1.60 1.81 1.89 3.11 3.21 -
P/NAPS 1.16 1.22 1.88 1.16 1.15 1.09 1.45 -13.83%

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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