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Knowledge Technology (ARC)

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Wednesday 12 October, 2005

Knowledge Technology

Final Results

Knowledge Technology Solutions PLC
12 October 2005

12 October 2005



Knowledge Technology Solutions PLC ('KTS'), the independent provider of
real-time market data services, announces its preliminary results for the year
ended 30 June 2005.

Financial and business highlights:

• Turnover up 62% to £1.25 million (2004: £770,185)

• Group loss before tax of £966,536 (2004: £940,161)

• Cash position of £1.7 million

• KTS MarketTerminal with O2 service launched in April, providing mobile
  access to essential international market data and news

• Sales achieved by overseas market data services reseller, broadening
  international distribution network

• In discussions with several large stockbrokers to provide
  MarketTerminal under their own brand

Dr Marc Pinter-Krainer, Chief Executive of Knowledge Technology Solutions PLC,

'We are pleased to have continued to grow sales and improve our service to
customers. We recognise, however, that vigorous competition among desktop data
applications providers has created a tough trading environment, which we are
responding to by pursuing a strategy to broaden and deepen KTS's share of the
market. Whilst this difficult environment has reduced our expectations for next
year, moving towards profitability remains of paramount importance, and revenues
from additional growth opportunities will help accelerate progress in this

Enquiries, please contact:

Dr Marc Pinter-Krainer    Knowledge Technology Solutions PLC    020 7256 2300
Oliver Scott              KBC Peel Hunt Ltd                     020 7418 8900
Neil Boom                 Gresham PR Ltd                        020 7404 9000
Rosemary Acfield

Chief Executive's Review

KTS has made further progress in the year to 30 June 2005. Revenues from our
international and UK-only financial news and data services have grown steadily
from our install base, now more than 130 separate organisations. These range
from investment banks and stockbrokers to legal practices and financial media
organisations. However, market conditions for desktop market data display
applications have been challenging and the Board has been pursuing additional
new growth activities and business partnerships to complement income from
desktop subscriptions.

During the year, sales increased month-on-month resulting in a year-end turnover
of £1.25m, an increase of 62% compared with the previous year (2004: £770,185).
We have continued to work to contain costs, and are pleased that group losses
before tax of £966,536 were broadly in line with 2004's (2004: £940,161). The
small increase in loss for the year resulted from stepping up investment in our
technical and customer support headcount and meeting the cost of international
data and news feeds associated with our premium service MarketTerminal. Careful
cost management has allowed our cash position of £1.7m to remain strong,

As in previous years, we have maintained accounting best practice by writing off
research and development costs as incurred.

We have continued to improve the functionality of both QuoteTerminal and
MarketTerminal. New content added to our international service includes
extensive foreign exchange data provided by ComStock Europe. With the standard
MarketTerminal subscription, users can now access live prices and exchange rates
for more than 170 currencies, including spot and forward rates as well as
historical prices.

Looking ahead, we are eager to focus on the intrinsic strengths of our
technology, which is very flexible and adaptable and requires little or no input
from clients when rolled out to individual desktops. Over the next 12 months we 
will be targeting new corporate clients with a strongly tailored MarketTerminal 
service that meets precisely their individual needs. For example, if clients 
require data and live prices from a particular exchange, or wish to have 
additional functionality, we can provide these at an agreed fee. We expect this 
approach to reduce our fixed data and exchange feed costs, while providing 
clients with a stronger, more bespoke, service.

Another measure to boost revenues includes expanding our sales reach by using
market data services resellers. We have already had success with resellers after
achieving sales with third party distributors in Turkey. Following our positive
experiences in Turkey we are seeking to broaden our international distribution
network to include other European countries. MarketTerminal inherently lends
itself very well to this approach as it is internet-delivered, browser-based and
requires no download or installation.

Again, via partnerships, we are in discussions with several large private client
and institutional stockbrokers to provide MarketTerminal under their own brand
name. This approach offers the opportunity to reach a far wider user base, while
offering little risk or cost to KTS.

The benefits from partnerships can be seen through collaboration with O2.
Launched in April, the KTS MarketTerminal with O2 service provides mobile access
to essential international market data and news delivered via O2's 'always on'
GPRS, 3G and WLAN data connections. We are pleased to report a growing number of
sales enquiries for this service.


We are pleased to have continued to grow sales and improve our service to
customers. We recognise, however, that vigorous competition among desktop data
applications providers has created a tough trading environment, which we are
responding to by pursuing a strategy to broaden and deepen KTS's share of the
market. Whilst this difficult environment has reduced our expectations for next
year, moving towards profitability remains of paramount importance, and revenues
from additional growth opportunities will help accelerate progress in this

Marc Pinter-Krainer
Chief Executive
11 October 2005

*MarketTerminal is a registered trademark

Consolidated Profit and Loss Account
For the year ended 30 June 2005
                                             Note     Year ended    Year ended
                                                         30 June       30 June
                                                            2005          2004
                                                               £             £
Turnover                                         1     1,250,474       770,185
Distribution costs                                    (1,192,594)     (686,722)
Administrative costs                                  (1,119,527)   (1,062,895)
                                                          --------      --------
Operating loss                                        (1,061,647)     (979,432)
Interest receivable                                       95,111        39,271
                                                          --------      --------
Loss on ordinary activities before taxation             (966,536)     (940,161)
Taxation                                         2             -        92,071
                                                          --------      --------
Loss on ordinary activities after taxation              (966,536)     (848,090)
Dividends                                        3             -             -
                                                          --------      --------
Retained loss for the year                              (966,536)     (848,090)
                                                          --------      --------
Loss per share                                   4         (0.65)p       (0.71)p
                                                          --------      --------
Diluted loss per share                           4         (0.65)p       (0.71)p
                                                          --------      --------

All of the results relate to continuing operations.

There are no recognised gains or losses other than the loss for the year.

Consolidated Balance Sheet
As at 30 June 2005
                                                           2005           2004
                                                              £              £

Fixed assets
Tangible assets                                         180,027        175,677
Investments                                                   -              -
                                                        ---------       --------
                                                        180,027        175,677
                                                        ---------       --------
Current assets
Debtors                                                 162,926        113,586
Cash at bank and in hand                              1,716,053      2,702,533
                                                        ---------       --------
                                                      1,878,979      2,816,119
Creditors: amounts falling due within one year         (256,099)      (234,053)
                                                        ---------       --------
Net current assets                                    1,622,880      2,528,066
                                                        ---------       --------
Net assets                                            1,802,907      2,757,743
                                                        ---------       --------
Capital and reserves
Called up share capital                                 148,275        148,015
Share premium account                                 4,777,574      4,766,134
Profit and loss account                              (3,122,942)    (2,156,406)
                                                        ---------       --------
Equity shareholders' funds                            1,802,907      2,757,743
                                                        ---------       --------

Approved on behalf of the board on 11 October 2005 by:

Marc Pinter-Krainer             Michael Levy
Chief Executive Officer         Group Finance Director

Consolidated Cash Flow Statement
For the year ended 30 June 2005
                                                    Year ended        Year ended
                                                       30 June           30 June
                                                          2005              2004
                                                             £                 £
Net cash outflow from operating activities           (1,027,646)       (809,156)
                                                         --------       --------
Returns on investments and servicing of finance
Interest received                                        95,111          39,271
Net cash inflow from returns on investments and
servicing of finance                                     95,111          39,271
                                                         --------       --------
Corporation tax refund                                        -          92,071
Net cash inflow from taxation                                 -          92,071
                                                         --------       --------
Purchase of tangible fixed assets                       (65,645)        (53,598)
Net cash outflow from capital expenditure
and financial investment                                (65,645)        (53,598)
                                                         --------       --------
Net cash outflow before financing                      (998,180)       (731,412)
                                                         --------       --------
Issue of share capital                                   11,700       3,123,019
Expenses paid in connection with share issues                 -        (128,319)
Net cash inflow from financing                           11,700       2,994,700
                                                         --------       --------
(Decrease)/Increase in cash in the year                (986,480)      2,263,288
                                                         --------       --------

All cash flows relate to continuing operations.

Notes to the Preliminary Statement

1    Turnover

Turnover is attributable to the principal activities of the Group being the sale
of real-time data and analysis services, together with advertising and
sponsorship revenue. All turnover arises within the UK.

Income is recognised over the contract period.

2    Taxation on loss on ordinary activities

As a result of the losses available, no liability to UK corporation tax arose on
the ordinary activities for the year ended 30 June 2005.

3    Dividends

The Directors do not recommend the payment of a dividend.

4    Loss per ordinary share

The loss per Ordinary Share has been calculated by dividing the loss on ordinary
activities after tax attributable to shareholders by 148,256,472 (2004:
119,973,753), being the weighted average number of Ordinary Shares in issue
during the year, which carry the right to receive a dividend. As a result of the
loss for the year there is no difference between the basic and diluted loss per

5    Post balance sheet events

There were no events since the balance sheet date, which materially affect the
position of the Group.

6    Annual report and accounts

The foregoing financial information does not amount to full accounts
within the meaning of Section 240 of the Companies Act 1985 and has not been
reported on but has been agreed with the Company's auditors. The Annual Report
and Accounts will be filed at Companies House following the Annual General
Meeting and will be posted to shareholders shortly. Copies will be available
from the Company Secretary at 8th Floor, Finsbury Tower, 103-105 Bunhill Row,
London, EC1Y 8LZ.

7    Annual General Meeting

The AGM will be held at KBC Peel Hunt Ltd, 111 Old Broad Street, London
EC2N 1PH, on 28 November 2005 at 9.00 a.m.

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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