Interim Results

TMT Group PLC 24 March 2006 TMT GROUP PLC INTERIM RESULTS 24 March 2006 Chairman's statement for the period ended 31 December 2005 These interim accounts for TMT Group plc ('TMT') show the results for the 6 months ended 31 December 2005. The Company made an operating loss of £56,951 and had net assets of £868,441 at the period end. On 19 August 2005, TMT announced it had made a commitment of €375,000 to Mobile Tornado International Limited ('Tornado') as part of a fundraising by Tornado through the issue of redeemable loan stock. It was also announced that TMT had entered into non-binding heads of agreement setting out the proposed terms for the acquisition of Tornado. The acquisition of Tornado, set out in a document sent to shareholders on 9 February 2006, successfully completed at an EGM held on 6 March 2006. As a result, there are now 89,567,596 TMT shares in issue and Tornado is a wholly owned subsidiary of TMT. The acquisition moves the Company into a new phase of development, and I look forward to updating you as Tornado develops its exciting business. John Swingewood Executive Chairman Unaudited Profit and Loss Account For the period ended 31 December 2005 2005 2004 £ £ Turnover - - Cost of sales - - Gross profit - - Administrative expenses (56,951) (145,845) Operating loss (56,951) (145,845) Interest receivable 12,026 19,530 Loss on ordinary activities before taxation (44,925) (126,315) Tax on profit on ordinary activities - - Loss for the period (44,925) (126,315) All transactions arise from continuing operations. Unaudited Balance Sheet For the period ended 31 December 2005 2005 2004 £ £ Fixed assets 257,202 - Current assets Debtors 29,797 19,538 Cash at bank and in hand 616,747 1,068,628 903,746 1,088,166 Creditors: amounts falling due within one year (35,305) (116,945) Net current assets 868,441 971,221 Total assets less current liabilities 868,441 971,221 Capital and reserves Called up share capital 118,750 118,750 Share premium account 978,786 978,786 Profit and loss account (229,095) (126,315) Equity shareholders' funds 868,441 971,221 Unaudited Cashflow Statement For the period ended 31 December 2005 2005 2004 £ £ Net cash inflow/(outflow) from operating activities (72,911) (25,969) Returns on investments and servicing of finance Bank interest receivable 8,471 - Investments (257,202) - Financing Issue of new shares - 1,199,992 Costs of share issue - (105,395) Net cash inflow from financing - 1,094,597 (Decrease) / Increase in cash (321,642) 1,068,628 The unaudited interim statement was approved by the board of Directors on 24 March 2006. Copies of this statement will be available for a period of one month from the offices of Corporate Synergy Plc, 30 Old Broad Street, London EC2N 1HT. For further information please contact: John Swingewood, Proposed Chairman, Mobile Tornado: 0208 104 1961 John Prior, Romil Patel, Corporate Synergy Plc: 0207 448 4400 This information is provided by RNS The company news service from the London Stock Exchange
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