[WTHORSE] QoQ TTM Result on 31-Mar-2004 [#1]

Announcement Date
20-May-2004
Admission Sponsor
-
Sponsor
-
Financial Year
31-Dec-2004
Quarter
31-Mar-2004 [#1]
Profit Trend
QoQ- 11.91%
YoY- 39.31%
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TTM Result
31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 CAGR
Revenue 408,585 401,826 380,630 350,142 324,910 301,704 280,842 28.24%
PBT 89,128 77,158 64,686 52,512 47,444 43,767 40,783 68.00%
Tax -10,166 -8,590 -6,710 -4,800 -4,809 -5,643 -5,252 55.00%
NP 78,962 68,568 57,976 47,712 42,635 38,124 35,531 69.88%
-
NP to SH 78,962 68,568 57,976 47,712 42,635 38,124 35,531 69.88%
-
Tax Rate 11.41% 11.13% 10.37% 9.14% 10.14% 12.89% 12.88% -
Total Cost 329,623 333,258 322,654 302,430 282,275 263,580 245,311 21.65%
-
Net Worth 418,105 403,737 379,963 373,913 239,711 342,631 330,864 16.80%
Dividend
31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 CAGR
Div 7,167 - - 7,192 7,192 7,192 7,192 -0.23%
Div Payout % 9.08% - - 15.08% 16.87% 18.87% 20.24% -
Equity
31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 CAGR
Net Worth 418,105 403,737 379,963 373,913 239,711 342,631 330,864 16.80%
NOSH 238,917 238,897 238,970 239,688 239,711 239,602 239,757 -0.23%
Ratio Analysis
31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 CAGR
NP Margin 19.33% 17.06% 15.23% 13.63% 13.12% 12.64% 12.65% -
ROE 18.89% 16.98% 15.26% 12.76% 17.79% 11.13% 10.74% -
Per Share
31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 CAGR
RPS 171.02 168.20 159.28 146.08 135.54 125.92 117.14 28.54%
EPS 33.05 28.70 24.26 19.91 17.79 15.91 14.82 70.27%
DPS 3.00 0.00 0.00 3.00 3.00 3.00 3.00 0.00%
NAPS 1.75 1.69 1.59 1.56 1.00 1.43 1.38 17.07%
Adjusted Per Share Value based on latest NOSH - 239,688
31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 CAGR
RPS 185.72 182.65 173.01 159.16 147.69 137.14 127.66 28.24%
EPS 35.89 31.17 26.35 21.69 19.38 17.33 16.15 69.88%
DPS 3.26 0.00 0.00 3.27 3.27 3.27 3.27 -0.20%
NAPS 1.9005 1.8352 1.7271 1.6996 1.0896 1.5574 1.5039 16.80%
Price Multiplier on Financial Quarter End Date
31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 CAGR
Date 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 -
Price 2.52 1.84 1.80 1.98 1.77 1.55 1.57 -
P/RPS 1.47 1.09 1.13 1.36 1.31 1.23 1.34 6.33%
P/EPS 7.62 6.41 7.42 9.95 9.95 9.74 10.59 -19.62%
EY 13.12 15.60 13.48 10.05 10.05 10.27 9.44 24.41%
DY 1.19 0.00 0.00 1.52 1.69 1.94 1.91 -26.94%
P/NAPS 1.44 1.09 1.13 1.27 1.77 1.08 1.14 16.76%
Price Multiplier on Announcement Date
31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 30/06/03 CAGR
Date 22/02/05 24/11/04 19/08/04 20/05/04 24/02/04 21/11/03 21/08/03 -
Price 2.54 1.90 1.85 1.90 1.88 1.66 1.59 -
P/RPS 1.49 1.13 1.16 1.30 1.39 1.32 1.36 6.24%
P/EPS 7.69 6.62 7.63 9.54 10.57 10.43 10.73 -19.83%
EY 13.01 15.11 13.11 10.48 9.46 9.59 9.32 24.77%
DY 1.18 0.00 0.00 1.58 1.60 1.81 1.89 -26.84%
P/NAPS 1.45 1.12 1.16 1.22 1.88 1.16 1.15 16.62%

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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