Consolidated
Statement of Income
For the three months ended 31 March 2004
(Unaudited)
| |
For the three
months
ended |
 |
| |
31-Mar 2004
US$ 000 |
31-Mar-03
US$ 000 |
| Investment income |
7,798 |
4,618 |
| Interest income |
2,713 |
2,493 |
|
|
|
| |
10,511 |
7,111 |
| |
|
|
| Fees and commissions |
5,813 |
2,336 |
| Foreign exchange revaluation gains, net |
689 |
2,820 |
| Share in profits of associated companies |
5,851 |
4,295 |
|
|
|
| Total income |
22,864 |
16,562 |
| |
|
|
| Interest expense |
(4,430) |
(4,261) |
|
|
|
| Operating income before expenses and
provisions |
18,434 |
12,301 |
| |
|
|
| Salaries and benefits |
(4,145) |
(3,232) |
| General and administrative expenses |
(2,216) |
(1,915) |
| Amortisation of goodwill, net |
(246) |
482 |
|
|
|
| Operating income before provisions |
11,827 |
7,636 |
| |
|
|
| Writeback / (provision) for doubtful loans and
guarantees |
2,615 |
(1) |
| Provision for not-trading investments |
- |
(1,129) |
|
|
|
| Income for the period before minority
interest |
14,442 |
6,506 |
| |
|
|
| Minority interest |
(3,044) |
(478) |
|
|
|
| NET INCOME FOR THE PERIOD |
11,398 |
6,028 |
|
|
|
| Weighted average number of shares |
764,044 |
764,044 |
|
|
|
| Basic earnings per share (US cents) |
1.49 |
0.79 |
|
|
|
|
|
