Interim Results

Re-released with related company link. For Immediate release ToLuna plc ('the Company' or 'the Group') Unaudited Interim results for the six months to 30 September 2005 ToLuna plc, a leading online panel and technology provider for the market research industry, today announces its unaudited interim results for the six months to 30 September 2005, and pro forma figures for the nine months to 30 September 2005. * Six month unaudited pre tax profit of £0.29 million on revenue of £1.03 million* * Nine month pro forma revenues of £1.868 million (2004 pro forma revenue of £0.6 million) ** * Nine month pro forma pre tax profit of £0.56 million (2004 pro forma loss of £0.13 million)** * Expanding panel membership to in excess of 650,000 across 13 European countries *No comparatives have been included as the company was incorporated in March 2005. ** Pro forma unaudited figures assume acquisitions during the year (see below) were acquired on the 1 January 2005 and a full nine months contribution to operating results was made. Chairman's statement I am pleased to report ToLuna's unaudited interim results for the six months ended 30 September 2005, together with pro forma nine month results to September 2005. ToLuna plc was incorporated on 16 March 2005 and acquired the trading companies, Cjudge SAS and Cjudge Ltd (together 'Cjudge'), on 10 May 2005. Following the acquisition of Cjudge, ToLuna raised £4.4 million net of expenses by a placing and was admitted to AIM. The unaudited results for the six months ended 30 September 2005 reflect results of the Company from 1 April 2005 and include trading of Cjudge from 10 May 2005, the date of its acquisition. These show a pre tax profit of £0.29 million on revenue of £1.03 million. These results therefore do not constitute a full six months trading for the current business. Consequently, unaudited pro forma nine months' figures have been referred to above in order to reflect more accurately the performance of the ongoing business of the Group. These results reflect the Group's continuing strong performance, which continues to be ahead of management expectations. We have also delivered on our stated strategy, announced when the Company was listed on AIM in May, of expanding our panel membership in size and geographical reach. I look forward to reporting strong year end results for the Company and pro forma annual results for the year to 31 December 2005. George Kynoch Chairman 7 December 2005 Further enquires ToLuna plc Frederic-Charles Petit, Chief Executive Tel: 00336 33 08 03 91 Simon Barrell, Non-executive Finance Director Tel: 07850 934204 John East & Partners Limited David Worlidge/Simon Clements Tel: 020 7628 2200 Notes to Editors ToLuna operates and builds online panels across Europe. It has designed and operates software to enable research to be undertaken online. ToLuna offers three core services to the market research industry: * access to its online panellists; * creation of dedicated online panels; and * the licensing of its own proprietary technology. The group operates across Europe with offices in London and Paris. Consolidated Income Statements Note 6 months ended Year ended 30September 2005 31 December 2004 (Unaudited) (Audited) £'000 £'000 Revenue 1,026 1,069 Other operating expenses (253) (474) Staff costs (544) (567) Depreciation and amortisation (9) (3) Profit from operations 220 25 Net investment income 72 9 Profit before tax 292 34 Tax 4 (86) (14) Retained Profit for the financial year 206 20 Earnings per share Basic and diluted 2 0.75p N/A Consolidated Balance Sheets 6 months ended Year ended 30September 2005 31 December 2004 (Unaudited) (Audited) £'000 £'000 Non-current assets Goodwill 7 7 Other Intangible assets 16 17 Property, plant and equipment 81 9 104 33 Current assets Trade and other receivables 1,559 659 Cash 4,757 70 6,316 729 Total assets 6,420 762 Equity and liabilities Equity Share Capital 358 - Share premium account 5,202 1,968 Translation reserve (2) 3 Retained earnings/(deficit) 206 (1,504) Total equity 5,764 467 Current liabilities Trade and other payables 653 281 Tax liabilities 3 14 Total current liabilities 656 295 Total equity and liabilities 6,420 762 Consolidated cash flow statements 6 months ended Year ended 30September 2005 31 December 2004 (Unaudited) (Audited) £'000 £'000 Operating activities Profit before tax 292 34 Adjustments for: Depreciation 9 3 Exchange differences 2 (1) 303 36 Increase in receivables (457) (465) Increase/(decrease) in payables 215 (39) Cash generated from operations 61 (468) Net investment income (72) (9) Net cash from operating activities (11) (477) Investing activities Interest received 73 10 Interest paid (1) (1) Purchase of property, plant and equipment (59) (7) Acquisitions 288 - Net cash from operating activities 301 2 Cash inflow /(outflow) before financing 290 (475) Financing Issue of shares 4,447 525 Finance leases entered into 20 - Net cash inflow from financing 4,467 525 Increase in cash in period 4,757 50 Cash at start of the period - 20 Cash at end of the period 4,757 70 Consolidated Statement of changes in equity Audited Share Share Translation Retained Capital Premium reserve earnings account £'000 £'000 £'000 £'000 At 31 December 2003 - 1,443 3 (1,524) Shares issued in the year - 525 - - Retained profit for the year - - - 20 At 31 December 2004 - 1,968 3 (1,504) Unaudited Share Share Translation Retained Capital Premium reserve earnings account £'000 £'000 £'000 £'000 At 1 April 2005 - - - - Shares issued 358 4,375 - - Retained profit for the year - - (2) 206 At 30 September 2005 358 4,375 (2) 206 Notes to the financial statements These results are required to be announced by the AIM Rules as they cover the six month period from the last reporting date, 31 March, 2005 of the financial information included in the Company's Admission document. The Company's normal reporting date is December and future results will reflect the six months to June and the year to December 1. Basis of Preparation of the interim financial statements The interim financial statements have been prepared in accordance with the International Financial Reporting Standards. The interim financial statements have been prepared on a basis which is consistent with the accounting policies adopted by the Group. These interim financial statements do not constitute statutory accounts. Comparative figures for the year to 31 December 2004 have been extracted from the latest financial statements of the trading subsidiaries on which the report of the auditors was unqualified. 2. Earnings per share Earnings per share has been calculated on a profit of £206,000 and the average number of shares in issue for the period, 27,515,291. The share options in issue do not materially affect the earnings per share. The Earnings per share has not been calculated for the year ended 31 December 2004 as these results are for the trading subsidiaries only and are not comparable. 3. Dividends No dividends are proposed for the period. 4. Tax 6 Months ended Year ended 30 September 31 December (Unaudited) (Audited) 2005 2004 Current tax Foreign tax - 14 UK tax 3 - 3 14 Deferred tax 83 - 86 14 Deferred tax relates to the utilisation of the deferred tax asset recognised on the acquisition of the trading subsidiary in respect of future tax losses. 5. The financial information for the year ended 31 December 2004 is extracted from the trading subsidiaries financial statements to the date which received an unqualified auditor's report and were included in the Placing and Admission document dated 25 May 2005. 6. Copies of the Interim Results will be available from the registered office of the Company, 29 Curzon Street, London W1J 7TL.

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