[WILLOW] QoQ Annualized Quarter Result on 30-Sep-2004 [#3]

Announcement Date
25-Nov-2004
Admission Sponsor
-
Sponsor
-
Financial Year
31-Dec-2004
Quarter
30-Sep-2004 [#3]
Profit Trend
QoQ- 63.21%
YoY- 64.57%
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Annualized Quarter Result
30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 CAGR
Revenue 34,686 34,960 33,562 32,777 31,182 28,380 28,716 13.43%
PBT 4,138 4,208 -1,458 -120 -2,028 -540 -1,771 -
Tax -1,110 -1,272 -801 -774 -404 -468 -572 55.64%
NP 3,028 2,936 -2,259 -894 -2,432 -1,008 -2,343 -
-
NP to SH 3,028 2,936 -2,259 -894 -2,432 -1,008 -2,343 -
-
Tax Rate 26.82% 30.23% - - - - - -
Total Cost 31,658 32,024 35,821 33,671 33,614 29,388 31,059 1.28%
-
Net Worth 30,428 29,653 29,640 28,803 27,719 29,307 28,863 3.58%
Dividend
30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 CAGR
Div - - - - - - - -
Div Payout % - - - - - - - -
Equity
30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 CAGR
Net Worth 30,428 29,653 29,640 28,803 27,719 29,307 28,863 3.58%
NOSH 248,196 244,666 248,241 248,518 248,163 251,999 249,255 -0.28%
Ratio Analysis
30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 CAGR
NP Margin 8.73% 8.40% -6.73% -2.73% -7.80% -3.55% -8.16% -
ROE 9.95% 9.90% -7.62% -3.11% -8.77% -3.44% -8.12% -
Per Share
30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 CAGR
RPS 13.98 14.29 13.52 13.19 12.57 11.26 11.52 13.78%
EPS 1.22 1.20 -0.91 -0.36 -0.98 -0.40 -0.94 -
DPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -
NAPS 0.1226 0.1212 0.1194 0.1159 0.1117 0.1163 0.1158 3.88%
Adjusted Per Share Value based on latest NOSH - 247,727
30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 CAGR
RPS 6.99 7.05 6.77 6.61 6.29 5.72 5.79 13.39%
EPS 0.61 0.59 -0.46 -0.18 -0.49 -0.20 -0.47 -
DPS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -
NAPS 0.0613 0.0598 0.0598 0.0581 0.0559 0.0591 0.0582 3.52%
Price Multiplier on Financial Quarter End Date
30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 CAGR
Date 30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 -
Price 0.15 0.10 0.14 0.14 0.16 0.23 0.29 -
P/RPS 1.07 0.70 1.04 1.06 1.27 2.04 2.52 -43.53%
P/EPS 12.30 8.33 -15.38 -38.89 -16.33 -57.50 -30.85 -
EY 8.13 12.00 -6.50 -2.57 -6.13 -1.74 -3.24 -
DY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -
P/NAPS 1.22 0.83 1.17 1.21 1.43 1.98 2.50 -38.04%
Price Multiplier on Announcement Date
30/06/05 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 CAGR
Date 25/08/05 18/05/05 24/02/05 25/11/04 20/08/04 27/05/04 26/02/04 -
Price 0.14 0.09 0.12 0.14 0.14 0.18 0.28 -
P/RPS 1.00 0.63 0.89 1.06 1.11 1.60 2.43 -44.70%
P/EPS 11.48 7.50 -13.19 -38.89 -14.29 -45.00 -29.79 -
EY 8.71 13.33 -7.58 -2.57 -7.00 -2.22 -3.36 -
DY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -
P/NAPS 1.14 0.74 1.01 1.21 1.25 1.55 2.42 -39.48%

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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