Interim Results

Totally PLC 25 September 2001 For Immediate Release 25th September, 2001 Totally Plc ('Totally' or 'the Company') Interim announcement of results for the six month period ended 30th June, 2001 Highlights * Revenues of £744,640 for the six months to June 2001 * Monthly revenues in London Jewish News increased by 26% over the first seven months of this year, with yield per page also increasing by an impressive 41% * London Jewish News ABC membership approved in June 2001 and www.totallyjewish.com received its ABC Electronic certification for page impressions * A joint venture agreement signed with a substantial Israeli publisher regarding the development of Totally's US media activities Chairman's Statement With revenues for the group at £744,640 for the six months to June 2001, the trading loss was £429,702. Taken with amortisation of £109,483 relating to the London Jewish News acquisition and depreciation of £34,611, the net loss before taxation was £573,796. London Jewish News ABC membership was approved in June 2001 and www.totallyjewish.com received its Audit Bureau of Circulation ('ABC') electronic certification for page impressions. This is an important milestone for the business. ABC is the national body, which audits and publishes statistics in relation to circulation and distribution of newspapers and also gives statistical information of users and impressions on websites. As a result of these developments, both the London Jewish News and www.totallyjewish.com become more credible in the eyes of potential advertisers. Current Trading The advertising revenues of the group continue to grow. London Jewish News has seen an increase in revenues of 26% over the first seven months of this year, with yield per page also growing by 41%. Independent user and reader research surveys have been completed across both www.totallyjewish.com and London Jewish News respectively and a new Totally media pack has now been created, promoting the group's products and services. Again, this adds credibility to Totally's advertising proposition. Services revenue also continue to grow, through winning several website development contracts from commercial entities and Jewish communal organisations. Demand for this service continues to build. Prospects Development of ancillary products to be sold into the Jewish community via Totally's owned media is also under way. These include: * New Dating Services - during the third quarter of this year, Totally will be launching new online subscription and premium rate telephone dating services. Currently www.totallyjewish.com has over 2,500 live dating profiles. As existing users are migrated across to the new service, your directors are optimistic that significant revenues will be generated. * Totally Events - on December 31st last year Totally ran its first ever party for 24-30 years old. Over 550 people attended and the evening proved to be a commercial success. As a result, Totally has scheduled another 10 parties for 2001, the majority of which fall in the last 6 months of the year. This aspect of the group's activity continues to grow and be profitable. Your directors believe that the formula of a Jewish newspaper and website operating in a complementary manner is well on the way to being commercially proven. This has now been recognised by a major Israeli publisher with which Totally has signed a joint venture agreement. The agreement covers the undertaking of a feasibility study whereby the two partners, together with a number of outside consultants, are seeking to apply the Totally formula to major metropolitan areas in the USA. A business plan is now being created with a view to assessing the opportunities. Your directors are encouraged by progress to date and continue to work toward their short term goal of achieving profitability in the first half of 2002. Dr Michael Sinclair Chairman 25th September, 2001 Profit and loss account For the 6 months ended 30th June, 2001 Note Period from Period from 28th 6 months 28th October October 1999 to ended 1999 to 30th June, 30th June, 31st December, 2000 2001 2000 (unaudited) (audited) (unaudited) £ £ £ Turnover 744,640 506,645 155,623 Other operating income 6,097 5,173 - Staff costs (615,704) (822,373) (384,445) Depreciation and other amounts written off tangible and intangible fixed assets - ordinary (144,094) (55,105) (7,050) - exceptional - (1,154,420) (239,313) Other operating charges (561,370) (945,697) (507,384) -------- -------- -------- Total expenses (1,315,071) (2,972,422) (1,138,192) -------- -------- -------- Operating loss (570,431) (2,465,777) (982,569) Interest receivable 5,259 53,615 30,298 Interest payable (8,624) (4,285) - -------- -------- -------- Loss on ordinary activities (573,796) (2,416,447) (952,271) before taxation Taxation - - - -------- -------- -------- Retained loss for the period (573,796) (2,416,447) (952,271) ======== ======== ======== Loss per share - basic and 3 (2.03p) (16.08p) (7.66p) diluted Loss per share before 3 (7.66p) goodwill amortisation - basic (1.64p) (8.21p) -------- -------- -------- Balance sheet As at 30th June, 2001 As at 30th As at 31st As at 30th June, 2001 December, 2000 June, 2000 (unaudited) (audited) (unaudited) £ £ £ Fixed assets Investments 68,835 - - Intangible fixed assets - goodwill 2,050,372 2,150,627 - Tangible fixed assets 81,567 111,613 72,936 -------- -------- -------- 2,200,774 2,262,240 72,936 Current assets Debtors and prepayments 466,807 415,793 365,363 Cash at bank and in hand 157,877 445,712 1,064,354 -------- -------- -------- 624,684 861,505 1,429,717 Creditors Trade creditors (321,302) (359,344) (295,503) Loans and overdrafts - (112,145) - Accruals (32,964) (160,248) (48,656) Finance leases (5,851) (5,566) - Other taxation and social security (29,181) (33,487) (21,145) -------- -------- -------- (389,298) (670,790) (365,304) Net current assets 235,386 190,715 1,064,413 Total assets less current liabilities 2,436,160 2,452,955 1,137,349 Creditors - amounts falling due after more than one year: finance leases (5,136) (8,132) - -------- -------- -------- Net assets 2,431,024 2,444,823 1,137,349 ======== ======== ======== Capital and reserves Share capital 337,255 299,913 153,813 Share premium account 2,068,482 1,545,827 1,935,807 Merger reserve 3,015,530 3,015,530 - Profit and loss account (2,990,243) (2,416,447) (952,271) -------- -------- -------- Equity shareholders' funds 2,431,024 2,444,823 1,137,349 ======== ======== ======== Notes to the Interim Results 1. Basis of preparation The Interim Accounts for the six months ended 30th June, 2001 are unaudited and do not constitute statutory accounts in accordance with section 240 of the Companies Act 1985. 2. Dividends No dividend is proposed for the six months ended 30th June, 2001. 3. Loss per share The loss per share has been calculated by dividing the retained loss for the period of £573,796 by the weighted average number of ordinary shares of 28,445,491 in issue during the period. The adjusted loss per share is based on the loss before goodwill amortisation of £464,314. 4. Copies of Interim Results Copies of the Interim Results will be sent to shareholders shortly and will be available to members of the public from the Company's registered office, Aquis Court, 31 Fishpool Street, St Albans, Hertfordshire AL3 4RF. Full accounts for the period ended 31 December 2000, on which the auditors gave an unqualified report and contained no statement under Section 237 (2) or (3) of the Companies Act 1985, have been delivered to the Registrar of Companies. Enquiries Totally Plc Steve Burns Tel: 020 7692 6929 John East & Partners Limited John East Tel: 020 7628 2200 Nandita Sahgal

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