Consolidated
Statement of Income
Year Ended December 31, 2004
| |
Notes |
2004
US$ 000 |
2003
US$ 000 |
 |
| Investment income |
18 |
33,707 |
46,137 |
| Interest income |
|
13,582 |
10,095 |
|
|
|
|
| |
|
47,289 |
56,232 |
| Fees and commissions |
|
22,814 |
21,422 |
| Foreign exchange revaluation gains, net |
|
2,920 |
6,564 |
| Share of income from associated companies |
19 |
32,523 |
27,844 |
|
|
|
|
| Total income
|
105,546 |
112,062 |
| Change in fair values of investment properties |
6 |
(293) |
(2,418) |
| Interest expense |
|
(22,110) |
(16,965) |
|
|
|
|
| Operating income
before expenses and provisions |
83,729 |
92,679 |
| Salaries and benefits |
|
(16,608) |
(15,346) |
| General and administrative expenses |
|
(11,597) |
(10,237) |
| Amortisation of goodwill, net |
9 |
(983) |
(118) |
|
|
|
|
| Operating income
before provisions |
54,541 |
66,978 |
| Provision for not-trading investments |
4 |
(4,000) |
(16,868) |
| Write back / (provision) for doubtful loans and
guarantees |
5
&12 |
1,830 |
(7,242) |
| Provision others |
|
- |
390 |
|
|
|
|
| Income for the year
before minority interest |
52,371 |
43,258 |
| Minority interest |
|
(9,508) |
(7,020) |
|
|
|
|
| NET INCOME FOR THE YEAR |
|
43,313 |
36,238 |
|
|
|
|
| Basic earnings per share (US cents) |
21 |
5.669 |
4.743 |
|
|
|
|
|
|
