[MIECO] QoQ TTM Result on 30-Jun-2004 [#2]

Announcement Date
20-Aug-2004
Admission Sponsor
-
Sponsor
-
Financial Year
31-Dec-2004
Quarter
30-Jun-2004 [#2]
Profit Trend
QoQ- -7.85%
YoY- 11.3%
Quarter Report
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TTM Result
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Revenue 244,777 236,656 216,863 206,211 192,760 182,319 177,607 23.81%
PBT 38,398 38,418 32,547 31,685 31,026 29,632 28,732 21.30%
Tax -11,801 -7,930 -3,302 -1,852 1,348 2,139 -908 451.92%
NP 26,597 30,488 29,245 29,833 32,374 31,771 27,824 -2.95%
-
NP to SH 26,597 30,488 29,245 29,833 32,374 31,771 27,824 -2.95%
-
Tax Rate 30.73% 20.64% 10.15% 5.85% -4.34% -7.22% 3.16% -
Total Cost 218,180 206,168 187,618 176,378 160,386 150,548 149,783 28.47%
-
Net Worth 379,220 375,984 367,700 356,762 352,413 346,410 340,374 7.46%
Dividend
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Div 15,753 15,753 15,745 15,745 15,745 15,745 10,497 31.04%
Div Payout % 59.23% 51.67% 53.84% 52.78% 48.64% 49.56% 37.73% -
Equity
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Net Worth 379,220 375,984 367,700 356,762 352,413 346,410 340,374 7.46%
NOSH 210,677 210,046 210,114 209,860 209,769 209,945 210,107 0.18%
Ratio Analysis
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
NP Margin 10.87% 12.88% 13.49% 14.47% 16.79% 17.43% 15.67% -
ROE 7.01% 8.11% 7.95% 8.36% 9.19% 9.17% 8.17% -
Per Share
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
RPS 116.19 112.67 103.21 98.26 91.89 86.84 84.53 23.60%
EPS 12.62 14.51 13.92 14.22 15.43 15.13 13.24 -3.14%
DPS 7.50 7.50 7.50 7.50 7.50 7.50 5.00 31.00%
NAPS 1.80 1.79 1.75 1.70 1.68 1.65 1.62 7.26%
Adjusted Per Share Value based on latest NOSH - 209,860
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
RPS 24.48 23.67 21.69 20.62 19.28 18.23 17.76 23.83%
EPS 2.66 3.05 2.92 2.98 3.24 3.18 2.78 -2.89%
DPS 1.58 1.58 1.57 1.57 1.57 1.57 1.05 31.28%
NAPS 0.3792 0.376 0.3677 0.3568 0.3524 0.3464 0.3404 7.45%
Price Multiplier on Financial Quarter End Date
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Date 31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 -
Price 2.20 2.52 2.55 2.77 2.72 2.20 1.94 -
P/RPS 1.89 2.24 2.47 2.82 2.96 2.53 2.30 -12.25%
P/EPS 17.43 17.36 18.32 19.49 17.62 14.54 14.65 12.26%
EY 5.74 5.76 5.46 5.13 5.67 6.88 6.83 -10.93%
DY 3.41 2.98 2.94 2.71 2.76 3.41 2.58 20.41%
P/NAPS 1.22 1.41 1.46 1.63 1.62 1.33 1.20 1.10%
Price Multiplier on Announcement Date
31/03/05 31/12/04 30/09/04 30/06/04 31/03/04 31/12/03 30/09/03 CAGR
Date 24/05/05 25/02/05 26/11/04 20/08/04 24/05/04 26/02/04 28/11/03 -
Price 1.85 2.31 2.70 2.42 2.39 2.95 2.02 -
P/RPS 1.59 2.05 2.62 2.46 2.60 3.40 2.39 -23.77%
P/EPS 14.65 15.91 19.40 17.02 15.49 19.49 15.25 -2.63%
EY 6.82 6.28 5.16 5.87 6.46 5.13 6.56 2.62%
DY 4.05 3.25 2.78 3.10 3.14 2.54 2.48 38.63%
P/NAPS 1.03 1.29 1.54 1.42 1.42 1.79 1.25 -12.09%

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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