Interim Results

Thomson Intermedia PLC
10 September 2001



                            Thomson Intermedia plc

                         ('Thomson' or 'the Company')


   Announcement of interim results for the six months ended 31st July 2001



Chairman's Statement


We are pleased to announce our interim results for the six months ended 31st
July 2001.


Turnover in the period increased by 14% to £1.14 million (2000: £1.0 million).
  As envisaged, loss before tax in the six months ended 31st July 2001 was £
1.84 million (2000: loss of £0.39 million).  Loss per share equalled 6.4
pence, which compares to loss per share of 1.2 pence to 31st July 2000.  The
Company floated on Aim on 5th May 2000, during the period of the comparative
figures for the six months to 31st July 2000.


As at 31st July 2001 cash balances stood at £2.82 million.



Trading and Business Review


Media Advertising Monitoring Division: broadening our product range

Over the period we have broadened our range of offerings to cover the whole
range of media channels, in order to optimise our revenue opportunities.
Together with technological advances, this again puts us at the forefront of
the media monitoring market.


We have made a number of significant product developments over this period.
ART, our on-line press advertising monitoring product, and DART, our direct
mail monitoring product, have been complemented by:


      - Internet advertising monitoring, launched in January 2001

      - Outdoor advertising monitoring (creative only), launched in February
        2001

      - TV advertising monitoring, launched in July 2001

      - Multi-media monitoring, summarising advertising monitoring across
        all media, launched in September 2001; and

      - Radio advertising monitoring, to be launched in the second half of
        this year.


In addition, continual improvements in the data capture systems and on-line
delivery systems, together with a newly launched user interface, give these
products significant competitive advantage.


The initial response to these improvements in the product range have been
extremely encouraging, which should result in some large multimedia contracts
among existing and new customers. However, it is industry standard that
contracts are typically for a period of 12 months, and thus there may be a
lead-time before we fully benefit in terms of increased revenues from these
improvements in the product range.


Newsmetrics Division: expanded into all business sectors

Our Newsmetrics product provides an online news feed summarising each day's
news articles in national newspapers and trade publications, and, by the use
of a statistical formula, enables subscribers to chart the media performance
of both their own company and of their competitors.  Historically, Newsmetrics
monitored only the financial services industry. The expansion of Newsmetrics
into all business sectors has now recently been completed. Sales of the
enhanced all-sector Newsmetrics product have commenced in September 2001.


                            Thomson Intermedia plc


Free2look: potential for the future

Free2look is our retail search engine, providing daily information on popular
products and services advertised in the UK press. However, the dot com market
has suffered dramatically over this period, with a number of our major
competitors failing.


In these difficult circumstances and given that we have reduced our
advertising and marketing spend on free2look, the free2look customer base has
held steady. We have completed significant development on the site's
functionality and appearance, enhancing its appeal and usability to the
general public, in order to maintain this position.


Whilst we envisage commercial opportunities and profitability from e-commerce
and on-line advertising in the future, we believe that a cautious approach is
sensible until the market shows signs of sustainable growth. We have,
accordingly, reduced our marketing and advertising spend considerably on
free2look.


However, one of the main purposes of the development of free2look is to
provide research information for our newly established Research Division.


Research Division: unique e-panel

The Research Division provides unique consumer insights into products and
services in the UK, as derived primarily from free2look's research panel of
over 17,200 registered participants. It produces a series of syndicated
research reports and provides bespoke research services to corporate
customers. Sales of syndicated reports have increased steadily over this
half-year, and the bespoke research services are now being actively marketed.
Progress is being made and the contribution of this Division is expected to
grow over time.



Prospects


The first half of the year has seen a major development phase. As detailed
above, we have invested in broadening our product range in order to maximise
the attractiveness of our offerings. Our market position depends in large
measure on our technological superiority, and thus we will always require to
invest in this area. However, I am glad to say that the majority of this stage
of new product development phase has now been completed.


The focus of the management team is now firmly on generating sales and
controlling costs. The initial market response to our improved products has
been encouraging and we believe that we have further distanced ourselves from
the competition. Since the end of the half-year a stringent review of the cost
base has been carried out, and significant savings have now been implemented.


The Directors believe that the enhanced offerings will help secure competitive
advantage and that our potential for providing shareholder growth will become
increasingly evident.




Board of Directors

It is with considerable regret that I have to report that our Finance
Director, Richard Dawson, has decided to pursue his career outside the Group.
Richard has played a significant part in providing guidance during a very
important phase of the development of the Group. The parting is entirely
amicable as is evidenced by the fact that he will remain with the Company for
a period of handover to his successor. I am delighted to welcome on board
David Trendle as our new Finance Director Designate, who joins us from OneTel
on 10th September 2001.


John Napier

Chairman


10th September 2001


                            Thomson Intermedia plc


Profit and Loss Account
                                           Unaudited    Unaudited      Audited

                                          Six months   Six months   Year ended
                                               ended        ended
                                                                    31 January
                                        31 July 2001 31 July 2000         2001
                                  Notes        £'000        £'000        £'000

Turnover                                       1,139        1,008        2,141

Cost of Sales                                  (247)        (192)        (582)

Gross Profit                                     892          816        1,559

Operating Expenses                           (2,820)      (1,316)      (4,695)

Operating loss                               (1,928)        (500)      (3,136)

Interest receivable                               88          115          280
Interest payable                                 (1)          (1)          (2)

Loss on ordinary activities                  (1,841)        (386)      (2,858)
before taxation

Taxation                                           0           79          128

Loss on ordinary activities after            (1,841)        (307)      (2,730)
taxation

Dividends                           2              0            -            -

Retained loss transferred to                 (1,841)        (307)      (2,730)
reserve

Retained profit / (loss) brought             (2,616)          114          114
forward

Retained loss carried forward                (4,457)        (193)      (2,616)

Loss per share, pence - basic and   3          (6.4)        (1.2)       (10.2)
diluted


All amounts relate to continuing activities.

All recognised gains and losses are included in the profit and loss account.



                            Thomson Intermedia plc


Balance Sheet
                                             Unaudited    Unaudited     Audited

                                            Six months   Six months  Year ended
                                                 ended        ended
                                                                     31 January
                                          31 July 2001 31 July 2000        2001
                                                 £'000        £'000       £'000

Fixed assets
Tangible fixed assets                              535          265         483

Current assets
Debtors                                            810        1,216       1,281
Cash at bank and in hand                         2,819        6,950       4,564
                                                 3,629        8,166       5,845

Creditors: Amounts falling due within one      (1,631)      (1,609)     (1,953)
year

Net Current Assets                               1,998        6,549       3,892

Total assets less current liabilities            2,533        6,814       4,375

Creditors: Amounts falling due after more          (8)         (13)         (9)
than one year
Provision for liabilities and charges                -          (4)           -

Net Assets                                       2,525        6,789       4,366

Capital and Reserves
Share capital                                    7,155        7,155       7,155
Share premium                                    5,064        5,064       5,064
Share scheme reserve                                13           13          13
Merger reserve                                 (5,250)      (5,250)     (5,250)
Profit and loss                                (4,457)        (193)     (2,616)

Equity shareholders' funds                       2,525        6,789       4,366



                            Thomson Intermedia plc


Cash Flow Statement
                                           Unaudited     Unaudited      Audited

                                          Six months    Six months   Year ended
                                               ended         ended
                                                                     31 January
                                        31 July 2001  31 July 2000         2001
                                               £'000         £'000        £'000

Cash outflow from operating activities       (1,684)         (465)      (2,537)

Returns on investments and servicing              87            66           73
of finance

Taxation
Corporation tax paid                               -             -            -

Capital expenditure                            (149)         (153)        (440)

Net cash outflow                             (1,746)         (552)      (2,904)

Equity dividends paid                              -          (75)         (75)

Net cash outflow before financing            (1,746)         (627)      (2,979)

Financing
Issue of shares                                    -         8,000         8000
Flotation costs offset against share               -       (1,023)      (1,031)
premium
Capital element of finance lease                 (1)           (3)         (29)
payments
Cash flow from financing                         (1)         6,974        6,940

Increase / (decrease) in cash                (1,747)         6,347        3,961



                            Thomson Intermedia plc


Notes to the Cash Flow Statement

(a) Reconciliation of operating profit /        Unaudited  Unaudited    Audited
(loss) to operating cash flow:
                                               Six months Six months Year ended
                                                    ended      ended
                                                                     31 January
                                                  31 July    31 July       2001
                                                     2001       2000
                                                    £'000      £'000      £'000

Operating loss                                    (1,928)      (500)    (3,136)
Depreciation                                           94         35        104
Loss on sale of fixed asset                             1          -          -
Decrease / (Increase) in debtors                      471      (376)      (238)
(Decrease) / Increase in creditors                  (322)        376        733
Net cash flow from operating activities           (1,684)      (465)    (2,537)


(b) Analysis of net funds  Opening balance    Cash flow      Closing balance

                           1 February 2001                    31 July 2001
                                      £'000         £'000                 £'000

Cash at bank and in hand              4,564       (1,747)                 2,817
Finance leases                         (13)             1                  (12)
Total                                 4,551       (1,746)                 2,806



                            Thomson Intermedia plc

Notes to Accounts

1.      Basis of preparation


The financial information set out above is based on the consolidated financial
statements of Thomson Intermedia plc and its subsidiary Thomson Intermedia
Associates Limited (together referred to as the 'Group'). The accounts of the
Group for the six months ended 31st July 2001, which are unaudited, were
approved by the Board on 5th September 2001. These accounts have been prepared
in accordance with the accounting policies set out in the Report and Accounts
of Thomson Intermedia plc for the year ended 31st January 2001, and have been
subject to review by BDO Stoy Hayward, Chartered Accountants.


The financial information shown for the 6 month periods ended 31st July 2001
and 31st July 2000 is unaudited and does not constitute statutory accounts of
the Group within the meaning of section 240 of the Companies Act 1985. Only
the accounts for the year ended 31st January 2001 have been audited.


The consolidated financial statements incorporate the results of Thomson
Intermedia plc and its subsidiary undertaking as at 31st July 2001 using the
merger method of accounting.


 2. Dividend


As set out in the prospectus at flotation in May 2000, the Group is seeking
primarily to achieve capital growth for its shareholders, and no interim
dividend is being proposed.


3.      Loss per share


Basic loss per share is calculated, in accordance with FRS 14 (Earnings per
share), on loss on ordinary activities after tax of £1.84 million (2000: loss
£0.31 million) apportioned over the weighted average number of ordinary shares
that were in issue for the period of 28,619,047 (2000: 24,662,394). The
calculation of diluted loss per share is the same as basic loss per share as
the impact of any potential ordinary shares is antidilutive.


 4. Interim report


Copies of this interim report for the six months ended 31st July 2001 will be
sent to shareholders. Further copies will be available from the Company
Secretary at the registered office.




10th September 2001




Enquiries:


Thomson Intermedia

Sarah Jane Thomson, Joint Chief Executive

Steve Thomson, Joint Chief Executive                    020 8466 5555


Williams de Broe

John Mumford                                            020 7588 7511





                            Thomson Intermedia plc