[WTHORSE] QoQ Annualized Quarter Result on 31-Mar-2012 [#1]

Announcement Date
17-May-2012
Admission Sponsor
-
Sponsor
-
Financial Year
31-Dec-2012
Quarter
31-Mar-2012 [#1]
Profit Trend
QoQ- -20.56%
YoY- -7.12%
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Annualized Quarter Result
31/12/12 30/09/12 30/06/12 31/03/12 31/12/11 30/09/11 30/06/11 CAGR
Revenue 586,038 581,176 574,310 514,636 530,041 518,953 516,194 8.78%
PBT 48,772 52,970 57,476 62,844 71,383 67,601 70,346 -21.57%
Tax -10,597 -12,294 -13,376 -14,700 -10,781 -15,646 -16,194 -24.52%
NP 38,175 40,676 44,100 48,144 60,602 51,954 54,152 -20.70%
-
NP to SH 38,175 40,676 44,100 48,144 60,602 51,954 54,152 -20.70%
-
Tax Rate 21.73% 23.21% 23.27% 23.39% 15.10% 23.14% 23.02% -
Total Cost 547,863 540,500 530,210 466,492 469,439 466,998 462,042 11.97%
-
Net Worth 670,064 675,380 668,390 668,411 656,770 645,984 634,378 3.69%
Dividend
31/12/12 30/09/12 30/06/12 31/03/12 31/12/11 30/09/11 30/06/11 CAGR
Div 22,947 15,314 - - 22,964 15,325 - -
Div Payout % 60.11% 37.65% - - 37.89% 29.50% - -
Equity
31/12/12 30/09/12 30/06/12 31/03/12 31/12/11 30/09/11 30/06/11 CAGR
Net Worth 670,064 675,380 668,390 668,411 656,770 645,984 634,378 3.69%
NOSH 229,473 229,721 229,687 229,694 229,640 229,887 229,847 -0.10%
Ratio Analysis
31/12/12 30/09/12 30/06/12 31/03/12 31/12/11 30/09/11 30/06/11 CAGR
NP Margin 6.51% 7.00% 7.68% 9.35% 11.43% 10.01% 10.49% -
ROE 5.70% 6.02% 6.60% 7.20% 9.23% 8.04% 8.54% -
Per Share
31/12/12 30/09/12 30/06/12 31/03/12 31/12/11 30/09/11 30/06/11 CAGR
RPS 255.38 252.99 250.04 224.05 230.81 225.74 224.58 8.90%
EPS 16.62 17.71 19.20 20.96 26.39 22.60 23.56 -20.67%
DPS 10.00 6.67 0.00 0.00 10.00 6.67 0.00 -
NAPS 2.92 2.94 2.91 2.91 2.86 2.81 2.76 3.81%
Adjusted Per Share Value based on latest NOSH - 229,694
31/12/12 30/09/12 30/06/12 31/03/12 31/12/11 30/09/11 30/06/11 CAGR
RPS 244.18 242.16 239.30 214.43 220.85 216.23 215.08 8.78%
EPS 15.91 16.95 18.38 20.06 25.25 21.65 22.56 -20.68%
DPS 9.56 6.38 0.00 0.00 9.57 6.39 0.00 -
NAPS 2.7919 2.8141 2.785 2.785 2.7365 2.6916 2.6432 3.69%
Price Multiplier on Financial Quarter End Date
31/12/12 30/09/12 30/06/12 31/03/12 31/12/11 30/09/11 30/06/11 CAGR
Date 31/12/12 28/09/12 29/06/12 30/03/12 30/12/11 30/09/11 30/06/11 -
Price 1.62 1.65 1.66 1.68 1.67 1.70 1.88 -
P/RPS 0.63 0.65 0.66 0.75 0.72 0.75 0.84 -17.37%
P/EPS 9.74 9.32 8.65 8.02 6.33 7.52 7.98 14.14%
EY 10.27 10.73 11.57 12.48 15.80 13.29 12.53 -12.36%
DY 6.17 4.04 0.00 0.00 5.99 3.92 0.00 -
P/NAPS 0.55 0.56 0.57 0.58 0.58 0.60 0.68 -13.13%
Price Multiplier on Announcement Date
31/12/12 30/09/12 30/06/12 31/03/12 31/12/11 30/09/11 30/06/11 CAGR
Date 27/02/13 21/11/12 29/08/12 17/05/12 24/02/12 18/11/11 19/08/11 -
Price 1.61 1.65 1.67 1.69 1.75 1.72 1.75 -
P/RPS 0.63 0.65 0.67 0.75 0.76 0.76 0.78 -13.21%
P/EPS 9.68 9.32 8.70 8.06 6.63 7.61 7.43 19.19%
EY 10.33 10.73 11.50 12.40 15.08 13.14 13.46 -16.10%
DY 6.21 4.04 0.00 0.00 5.71 3.88 0.00 -
P/NAPS 0.55 0.56 0.57 0.58 0.61 0.61 0.63 -8.61%

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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