FINANCIAL HIGHLIGHTS

2006
K '000
2005
K '000
Change
Turnover336,302370,037- 9.1%
Operating Profit54,90348,791+ 12.5%
Profit attributable to shareholders47,47940,208+ 18.1%
Cash generated from operations81,73964,158+ 27.4%
Net cash inflow before financing30,6207,962+ 284.5%
Shareholders' funds and minority interests254,127230,417+ 10.3%
Consolidated net borrowings24,62429,575- 16.7%
Note2006
Toea
2005
Toea
Change
1.Earnings per share153130+17.7%
Dividends per share10065+53.8%
Shareholders' funds per share784711+10.3%
Note20062005
2.Gearing ratio - percentage1013
Interest cover - times39.214.5
Dividend cover - times1.96.5
Notes
1.Earnings per share have been calculated by dividing the profit attributable to sharholders by the weighted average number of shares in issue each year.
2.Gearing represents the ratio of net borrowings to sharholders' funds and minority interests.
3.Interest cover is calculated by dividing operating profit by net finance charges.
4.Dividend cover is calculated by dividing profit attributable to shareholders by total dividends paid and proposed for the year.

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STEAMSHIPS TRADING COMPANY LIMITED
Champion Parade
P.O. Box 1
Port Moresby NCD 121 - Papua New Guniea
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