Consolidated
Statement of Income
For the six months ended 30 June 2003
(Unaudited)
| |
For the three
months
ended |
For the six
months
ended |
 |
| |
30-Jun 2003
US$ 000 |
30-Jun 2002
US$ 000 |
30-Jun 2003
US$ 000 |
30-Jun 2002
US$ 000 |
| Investment income |
12,048 |
3,633 |
16,666 |
11,132 |
| Interest income |
2,687 |
2,888 |
5,180 |
5,377 |
|
|
|
|
|
| |
14,735 |
6,521 |
21,846 |
16,509 |
| |
|
|
|
|
| Fees and commissions, net |
3,136 |
2,211 |
5,472 |
3,492 |
| Foreign exchange revaluation gains, net |
1,208 |
816 |
4,028 |
1,505 |
| Share of profits in associated companies |
5,221 |
3,311 |
9,882 |
6,290 |
|
|
|
|
|
| Total Income |
24,300 |
12,859 |
41,228 |
27,796 |
| |
|
|
|
|
| Interest expenses |
(4,235) |
(5,563) |
(8,496) |
(10,189) |
|
|
|
|
|
| Operating income before expenses and
provisions |
20,065 |
7,296 |
32,732 |
17,607 |
| |
|
|
|
|
| Salaries and benefits |
(3,488) |
(2,474) |
(6,719) |
(5,154) |
| General and administrative expenses |
(1,668) |
(1,967) |
(3,583) |
(3,176) |
| Amortisation of goodwill |
(231) |
(132) |
(114) |
(237) |
|
|
|
|
|
| Operating income before provisions |
14,678 |
2,723 |
22,316 |
9,040 |
| |
|
|
|
|
| Provision for doubtful loans and guarantees |
(1,655) |
309 |
(1,656) |
159 |
| Provision for non trading investments |
(3,000) |
- |
(4,129) |
(1,000) |
|
|
|
|
|
| Income for the period before minority
interest |
10,023 |
3,032 |
16,531 |
8,199 |
| |
|
|
|
|
| Minority interest |
(697) |
(419) |
(1,176) |
(921) |
|
|
|
|
|
| Net income for the period |
9,326 |
2,613 |
15,355 |
7,278 |
|
|
|
|
|
| Weighted average number of shares |
764,044 |
741,517 |
764,044 |
741,517 |
|
|
|
|
|
| Basic earnings per share (US$) |
0.012 |
0.004 |
0.02 |
0.01 |
|
|
|
|
|
 |
|
