Interim Results

Access Intelligence PLC 10 August 2004 ACCESS INTELLIGENCE PLC CHAIRMAN'S STATEMENT UNAUDITED INTERIM RESULTS for the six months' period from 1 December 2003 to 31 May 2004 Results During our first full six months of trading as an AIM company, the Group has incurred a trading loss of £128,000. Subscription income has continued to grow and we anticipate that the Group will start to make a monthly profit before the end of this financial year. As at the end of May 2004, the Group had cash balances of £132,000. The Marketing Guild Subscribers to The Marketing Guild remained fairly constant throughout the period. However, membership subscription rates have been increased to reflect the improved level of service. In addition we have recently launched a new Platinum Service at £1,800 per annum which includes a level of consultancy support. Since the beginning of May we have accepted subscriptions at this higher level. We now have six sales consultants marketing the Platinum Service. Wired Gov Wired Gov has increased its revenue from banner advertising and from public bodies who are now using Wired Gov as a medium to disseminate their press releases. We estimate that the service is now reaching over 10,000 desktops in the UK which is almost twice as many as this time last year. Repeat revenues are strong and market research shows that the service is highly regarded amongst users. Back up and Running Back up and Running has doubled revenues within the last twelve months with many new subscribers. The company has also invested in infrastructure and storage capability which has significantly improved service levels. We have increased the number of active resellers and invested in technical support. Outlook We expect our subscriber base to continue to expand in the second half of the financial year and will continually look at ways to improve the service offering of all companies. We will also continue to look for other acquisitions that will expand our subscriber base and increase cross-selling opportunities. Ian Savage Chairman 10 August 2004 Background note: Access Intelligence has three operating subsidiaries: • The Marketing Guild which provides marketing advice and support to small and medium sized businesses. This is in the form of newsletters, consultancy, lead generation and member's services. • Wired Gov provides an online information service delivering press releases from over 100 government and public sector bodies. Subscribers can customize the service specifying the agency or topic they require. • Backup and Running plc provides an online data storage and disaster recovery service which the client can customize to its own requirements. The service offers significant advantages over other alternative systems in that it backs up automatically and can provide a complete backup history for at least three years. All companies operate on a subscription basis and the group intends to focus on the revenue method as a solid platform growth both organically and by acquisition. For further information contact: Access Intelligence plc Colin Davies, Finance Director 01904 449020 W. H. Ireland Limited David W. Youngman 0161 832 6644 ACCESS INTELLIGENCE PLC UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT for the period 1 December 2003 to 31 May 2004 6 months' period 01/12/03 to 31/05/04 £'000 Turnover Continuing operations 299 Operating loss Continuing operations (114) Loss on ordinary activities before interest (124) Interest payable 4 Loss before taxation (118) Taxation 0 Loss after taxation (118) Dividends 0 Retained loss in period (118) Earnings / (Loss) per share Basic and diluted (0.2p) ACCESS INTELLIGENCE PLC UNAUDITED CONSOLIDATED BALANCE SHEET as at 31 May 2004 Unaudited 31/05/04 £'000 £'000 Fixed assets Goodwill 2556 Tangible assets 125 2681 Current assets Debtors 96 Cash at bank 132 228 Creditors falling due within one year (176) Net current assets 52 Total assets less current liabilities 2,733 Creditors falling due after one year (181) 2,552 Capital and reserves Called up share capital 367 Share premium account 2,329 Profit and loss account (144) Equity shareholders' funds 2,552 ACCESS INTELLIGENCE PLC UNAUDITED CONSOLIDATED CASHFLOW STATEMENT for the period 1 December 2003 to 31 May 2004 6 months' period 01/12/03 to 31/05/04 £'000 £'000 Operating loss (114) Movement in working capital (368) Net cash inflow from operating activities (482) Acquisition costs (7) Capital Expenditure (31) Net cash outflow before use of liquid resources and financing (520) Loan Repayments (29) Decrease in cash in period 549 Analysis of net funds Cash at bank and in hand 183 Overdraft (51) 132 Debt repayable by instalments: Due within one year (60) Due after more than one year (179) (239) (107) ACCESS INTELLIGENCE PLC UNAUDITED INTERIM ACCOUNTS for the period 1 December 2003 to 31 May 2004 Notes 1. The company was incorporated in June 2003 and, therefore, there are no comparative figures for the previous period. 2. The results are unaudited and they do not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. 3. The calculation of earnings per share for the period is based on the loss after taxation divided by the average weighted number of ordinary shares in issue being 28,253,378 This information is provided by RNS The company news service from the London Stock Exchange
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