Interim Results

County Contact Centres PLC 07 February 2005 COUNTY CONTACT CENTRES PLC INTERIM STATEMENT OF RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2004 Highlights 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2004 2003 2004 (unaudited) (unaudited) (audited) £ £ £ Turnover 1,367,607 722,560 1,735,475 Profit/(loss) on ordinary activities before tax 2,543 (206,658) (177,681) • A six-month profit to December 2004 of £2,543 compared to a loss of £206,658 for the corresponding prior year period • A profit of £31,520 for the 12 months ending December 2004 • Sales increased by 89% compared to the corresponding prior year period • Sales in the six months achieved 79% of year to June 2004 level • December 2004 billable minutes 98% higher than December 2003 • European language division in Bucharest now running 24/7 • CallScripter Version 3 released at the Call Centre Expo in September Further enquiries: William Catchpole - Managing Director Stuart Gordon - Financial Director Telephone - 01473 321 800 Chairman's statement On a like-for-like basis the company has dramatically moved from a loss of £206,658 in the six months to December 2003 to a small profit with an encouraging underlying trend, as there have been one-off and set-up costs within the current half year, which are discussed below. In December 2004 Ansaback achieved a 19% increase in billable minute levels over June 2004, and a 98% increase when compared with December 2003. Additional new business continues to be won. In the annual accounts we hinted at the possibility of Ansaback expanding its UK client base service and we have pleasure in confirming the opening of our 24-hour European language facility in Romania, providing the main EU languages of Italian, Spanish, French and German. The office is based in Bucharest, with an initial staff of 30. The Board believes that a professional image is vital, both for visiting clients and for the retention of quality staff, and the building selected and its internal fittings echo this philosophy. The Bucharest Call Centre utilises our CallScripter software suite, via Ipswich, and is effectively part of one single pan-European call centre offering. The first multi-lingual client scripts are now up and running and it is expected that this side of the business will quickly develop providing additional revenue streams as well as further enhancing our software's reputation. All of the operators speak fluent English (and are fluent in at least one other main European language), as the ability to record call outcomes in English is key to UK client requirements. We believe that we are the first multi-lingual 24-hour bureau in Romania. This provides additional advantages for a number of the UK order lines as our clients can elect to overflow from Ipswich to Europe thereby maximising their chances of having 100% of their order calls answered. As the operators are fluent the order process is handled without fuss, avoiding the negativity of the caller thinking that an outsourced call centre with a heavy non-European dialect is servicing them. Excellent telephony links to the language facility have also been organised, as the quality of this is vital in ensuring that the service runs clearly and efficiently. The cost of setting up the Romanian facility has been met out of the existing cash flows and profits and it is expected to contribute substantively as it grows. For the past 4 years we have attended the Call Centre Expo, the UK's premier call centre showcase at the NEC, but have kept the size of the stand and cost to a minimum. This year we felt sufficiently confident to take a larger stand, both to introduce Ansaback Europe but more importantly to push CallScripter to the forefront of buyer's minds. This was well received, with the increased presence prompting a number of larger client leads. CallScripter has had a satisfactory six-months with a number of interesting prospects continuing to be negotiated. The Company, along with the rest of the world, was deeply moved by the effects of the recent Tsunami disaster. We have, in collaboration with a fulfilment house, agreed to handle at cost orders for the sale of a UNICEF Charity DVD "The Best Comedy DVD In The World". When compared with the six months to June 2004, the NEC show costs and the initial investment in opening the Bucharest operation have reduced our profits for the half-year. However these initiatives have successfully created a major step-change for the business, building a larger platform for future expansion. The Directors remain confident about the Group's future prospects. Peter M. Brown Chairman 7 February 2005 CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE 6 MONTHS ENDED 31 DECEMBER 2004 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2004 2003 2004 Note (unaudited) (unaudited) (audited) £ £ £ Turnover 1,367,307 722,560 1,735,475 Cost of sales (764,493) (431,510) (953,631) ----- ----- ----- Gross profit 602,814 291,050 781,844 Administrative expenses (604,951) (496,643) (951,739) ----- ----- ----- Operating Loss (2,137) (205,593) (169,895) Other interest receivable and similar income 3 11,018 1,424 3,124 Interest payable and similar charges (6,338) (2,489) (10,910) ----- ----- ----- Profit/(loss) on ordinary activities before taxation 2,543 (206,658) (177,681) Tax on loss on ordinary activities - - - ----- ----- ----- Profit/(loss) on ordinary activities after taxation deducted from reserves 2,543 (206,658) (177,681) ======== ========= ========= Basic profit/(loss) per share 2 0.01p (0.69p) (0.60p) There are no recognised gains or losses for the period other than the loss disclosed above. CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2004 31 December 31 December 30 June 2004 2003 2004 (unaudited) (unaudited) (audited) £ £ £ Fixed assets Tangible assets 55,909 67,339 49,147 ----- ----- ----- Current assets Debtors 482,282 358,636 455,526 Cash at bank and in hand 198,459 229,824 265,227 ----- ----- ----- 680,741 588,460 720,753 Creditors: amounts falling due within one year (394,987) (245,652) (405,776) ----- ----- ----- Net current assets 285,754 342,808 314,977 ----- ----- ----- Creditors: amounts falling due after more than one year (136,663) (236,667) (161,667) ----- ----- ----- Total assets less liabilities 205,000 173,480 202,457 ======= ======= ======= Capital and reserves Share capital 297,908 297,908 297,908 Share premium account 6,045,563 6,045,563 6,045,563 Merger reserve 18,396 18,396 18,396 Profit and loss account (6,156,867) (6,188,387) (6,159,410) ----- ----- ----- Shareholders' funds 205,000 173,480 202,457 ======= ======= ======= CONSOLIDATED CASH FLOW STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2004 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2004 2003 2004 (unaudited) (unaudited) (audited) £ £ £ Net cash outflow from operating activities (2,103) (249,389) (176,173) Returns on investments and servicing of finance Interest received 3 11,018 1,424 3,124 Interest paid (6,338) (2,489) (10,910) ----- ----- ----- Net cash inflow/(outflow) from returns on investments and servicing of finance 4,680 (1,065) (7,786) ----- ----- ----- Taxation 4 - 51,499 51,499 Capital expenditure and financial investment Purchase of fixed assets (44,685) (3,164) (9,256) Proceeds from sale of tangible fixed assets 340 - - ----- ----- ----- Net cash outflow from capital expenditure and financial investment (44,345) (3,164) (9,256) ----- ----- ----- Financing Receipt of Bank Loan - 150,000 150,000 Repayments of Borrowings (25,000) (10,000) (35,000) ----- ----- ----- Net cash (outflow)/inflow from financing (25,000) 140,000 115,000 ----- ----- ----- Decrease in cash (66,768) (62,119) (26,716) ======= ======= ======= Notes 1. Basis of preparation of financial information The financial information contained in this statement does not constitute statutory accounts as defined in section 240 of the Companies Act 1985. The unaudited financial information has been prepared on the basis of the accounting policies set out in the Group's statutory accounts for the year ended 30 June 2004. The financial information relating to the 12 months ended 30 June 2004 has been extracted from the audited financial statements, which have been delivered to Companies House. 2. Profit/(loss) per ordinary share The calculation of loss per ordinary share is based on the loss on ordinary activities after taxation deducted from reserves divided by the weighted average number of ordinary shares in issue during the relevant period: 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2004 2003 2004 (unaudited) (unaudited) (audited) Profit/(loss) on ordinary activities after £2,543 £(206,658) £(177,681) taxation deducted from reserves Weighted average number of ordinary shares In issue during the period 29,790,743 29,790,743 29,790,743 3. Interest Received The terms of the ten-year Ipswich office lease, which has a five-year break clause and rent review due in May 2005, have been agreed and this review gave rise to the settlement and payment of the cumulative interest arising on the deposit held by the landlord of £9,486. 4. Tax on loss on ordinary activities The tax credit represents UK corporation tax in previous years and is in respect of a repayment to the Group arising from a Research and Development claim for the period to 30th June 2003. 5. Availability of interim statement Copies of this interim statement are being sent to the Company's shareholders and will also be available from the Company's head office at Melford Court, The Havens, Ransomes Europark, Ipswich, Suffolk IP3 9SJ. This information is provided by RNS The company news service from the London Stock Exchange

Companies

PCI-PAL (PCIP)
UK 100
FTSE quotes by TradingView

Latest directors dealings

All directors dealings today