Consolidated
Statement of Income
For the nine months ended 30 September 2004
(Unaudited)
| |
Three months
1
July to 30 September |
Nine months
1
January to 30 September |
 |
| |
2004
US$ 000 |
2003
US$ 000 |
2004
US$ 000 |
2003
US$ 000 |
| |
|
|
|
|
| Investment income |
8,206 |
12,628 |
27,034 |
29,294 |
| Interest income |
3,621 |
2,521 |
9,273 |
7,701 |
|
|
|
|
|
| |
11,827 |
15,149 |
36,307 |
36,995 |
| |
|
|
|
|
| Fees and commissions |
5,785 |
4,380 |
15,913 |
9,852 |
| Foreign exchange revaluation gains, net |
560 |
999 |
2,022 |
5,027 |
| Share of profits in associated companies |
6,364 |
4,337 |
17,720 |
14,219 |
|
|
|
|
|
| Total Income |
24,536 |
24,865 |
71,962 |
66,093 |
| |
|
|
|
|
| Interest expenses |
(5,525) |
(3,960) |
(14,526) |
(12,456) |
|
|
|
|
|
| Operating income before expenses and
provisions |
19,011 |
20,905 |
57,436 |
53,637 |
| |
|
|
|
|
| Salaries and benefits |
(4,082) |
(3,800) |
(11,932) |
(10,519) |
| General and administrative expenses |
(2,448) |
(4,670) |
(7,750) |
(8,253) |
| Amortisation of goodwill, net |
(245) |
(395) |
(737) |
(509) |
|
|
|
|
|
| Operating income before provisions |
12,236 |
12,040 |
37,017 |
34,356 |
| |
|
|
|
|
| Writeback / (provision) for doubtful loans and
guarantees |
(77) |
1,848 |
3,521 |
192 |
| Provision for non trading investments |
- |
(2,003) |
- |
(6,132) |
|
|
|
|
|
| Income for the period before minority
interest |
12,159 |
11,885 |
40,538 |
28,416 |
| |
|
|
|
|
| Minority interest |
(2,345) |
(1,535) |
(7,714) |
(2,711) |
|
|
|
|
|
| NET INCOME FOR THE PERIOD |
9,814 |
10,350 |
32,824 |
25,705 |
|
|
|
|
|
| Weighted average number of shares |
764,044 |
764,044 |
764,044 |
764,044 |
|
|
|
|
|
| Basic earnings per share (US cents) |
1.28 |
1.35 |
4.3 |
3.36 |
|
|
|
|
|
 |
|
