Interim Results

County Contact Centres PLC 28 March 2002 COUNTY CONTACT CENTRES PLC INTERIM STATEMENT OF RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2001 Highlights 6 months ended 6 months ended 12 months 31 December 31 December ended 2001 2000 30 June (unaudited) (unaudited) 2001 (restated) (audited) Â£ Â£ Â£ Turnover 531,664 213,882 557,959 Loss on ordinary activities before tax (475,781) (1,498,893) (3,772,861) Loss per ordinary share 1.8p 5.7p 14.1p Sales are 149% higher than the corresponding period last year. Sales in the period have already achieved 95% of last year's annual turnover. Loss in the 6 months, at Â£475k, is Â£1M improvement on the corresponding prior year period. CallScripter Software launched in October, with four sales to date, totalling Â£181,300. Ansaback average monthly sales were 36% higher in the 6 months to December, compared with its first quarter to June 2001. Further enquiries: William Catchpole - Managing Director Stuart Gordon - Financial Director Telephone - 01473 321 800 Chairman's statement The company has made significant progress in re-engineering its business, concentrating on our Ansaback call centre and CallScripter software business sectors, while reducing the time and costs spent on the internet directory. I am pleased to report an increase in sales revenue during the six months to December 2001, up 149% on the corresponding period in 2000. We have already achieved 95% of last year's annual turnover, whilst a significant cut in costs resulted in a reduced loss for the half year of Â£475,781, compared to Â£1,498,893 for the corresponding period in 2000. During the year the company has expanded Ansaback, pro-rata monthly sales in the 6 months to December being 36% higher than in the 3 months to June 2001. Ansaback's strength lies in its 24-hour cover and its ability to quickly react to client demands, for example, the Call Centre handled over 8,000 calls for a new client over a weekend, requiring new scripts to be written and extra staff to be rostered at only 24 hours notice. New business continues to be won and current accounts include many blue chip organisations. Our in-house systems have also further increased our efficiency, improving our operational effectiveness. Our new call centre product, CallScripter, is a cutting edge package of software for the niche Call Centre market, which, after market research, was launched at the NEC Call Centre Expo 2001 in October. This created significant interest resulting in four sales to date, totalling Â£181,300, with a number of possible purchasers in the pipeline. All of the Ansaback customers now utilise CallScripter, which provides the Sales and Development teams with an ideal test-bed and showroom for the package. The Board is confident that the product will be rolled out nationally and internationally and be cash flow positive within 6 months. The company faces a changing market and is moving into a very exciting and demanding phase in its development. All small technology companies are accused of offering shareholders jam tomorrow but this time we think that we have got it right within the resources available to us. Peter Brown Chairman 28 March 2002 CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE 6 MONTHS ENDED 31 DECEMBER 2001 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2001 2000 2001 (unaudited) (unaudited) (restated) Â£ Â£ Â£ Gross Turnover 475,189 255,675 624,192 Deferred Income 56,475 (41,793) (66,233) ---------- ---------- ---------- Turnover 531,664 213,882 557,959 Cost of sales (4,045) (100,544) (114,145) ---------- ---------- ----------- Gross profit 527,619 113,338 443,814 Administrative expenses (1,027,252) (1,710,324) (4,371,830) ---------- ---------- ----------- Operating profit / (loss) (499,633) (1,596,986) (3,928,016) Other interest receivable and similar income 23,876 98,127 155,194 Interest payable and similar charges (24) (34) (39) --------- ----------- ----------- Loss on ordinary activities before taxation (475,781) (1,498,893) (3,772,861) Tax on loss on ordinary activities - - - --------- ----------- ----------- Loss on ordinary activities after taxation (475,781) (1,498,893) (3,772,861) deducted from reserves ========= =========== =========== Loss per ordinary share 1.8p 5.7p 14.1p There are no recognised gains or losses for the period other than the loss disclosed above. CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2001 31 December 31 December 30 June 2001 2000 2001 (restated) (unaudited) (unaudited) Â£ Â£ Â£ Fixed Assets Intangible assets - 345,005 - Tangible assets 166,434 230,257 213,658 ----------- ----------- ----------- 166,434 575,262 213,658 ----------- ----------- ----------- Current assets Debtors 281,509 739,974 750,733 Cash at bank and in hand 719,006 2,875,091 1,565,760 ----------- ----------- ----------- 1,000,515 3,615,065 2,316,493 Creditors: amounts falling due within one year (255,786) (529,412) (1,143,206) ----------- ----------- ----------- Net current assets 744,729 3,085,653 1,173,287 ----------- ----------- ----------- Total assets less current liabilities 911,163 3,660,915 1,386,945 =========== =========== =========== Capital and reserves Share capital 268,572 268,572 268,572 Share premium account 5,873,199 5,873,199 5,873,199 Other reserve 25,000 25,000 25,000 Merger reserve 18,396 18,396 18,396 Profit and loss account (5,274,004) (2,524,252) (4,798,222) ----------- ----------- ----------- Shareholders' funds 911,163 3,660,915 1,386,945 =========== =========== =========== CONSOLIDATED CASH FLOW STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2001 6 months 6 months ended 12 months ended 31 December ended 31 December 2000 30 June 2001 (unaudited) 2001 (unaudited) Â£ Â£ Â£ Net cash outflow from operating activities (876,255) (1,805,901) (2,835,585) Returns on investments and servicing of finance Interest received 23,876 98,127 155,194 Interest paid (24) (34) (39) --------- --------- --------- Net cash inflow from returns on investments 23,852 98,093 155,155 and servicing of finance --------- --------- --------- Capital expenditure and financial investment Purchase of fixed assets (8,512) (187,786) (323,335) Proceeds from sale of tangible fixed assets 14,161 16,683 9,523 --------- --------- --------- Net cash inflow/(outflow) from capital expenditure and financial 5,649 (171,103) (313,812) investment --------- --------- --------- Acquisitions Purchase of Ansaback business - - (194,000) --------- --------- --------- Financing Proceeds from issue of new shares - 1,090,000 1,090,000 --------- --------- --------- Net cash inflow from financing - 1,090,000 1,090,000 --------- --------- --------- Increase/(Decrease) in cash (846,754) (788,911) 2,098,242 ========= ========= ========= 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 2001. The financial information relating to the 12 months ended 30 June 2001 has been extracted from the audited financial statements, which have been delivered to Companies House. 2. Ongoing Business. After due consideration, the Directors believe that the business model has been successfully re-engineered. The directory is offered for sale, with enquiries being processed, direct costs have been reduced, Ansaback sales have grown on a solid platform and the first significant CallScripter software sales have now been achieved. The Directors, therefore, are of the opinion that there is a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future. However the Group is dependent on the continued growth of Ansaback and new sales of CallScripter. For the reasons above the Directors have continued to adopt the going concern basis in preparing the financial statements. 3. 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 shares in issue during the relevant period: 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2001 2000 2001 (unaudited) (unaudited) (restated) Loss on ordinary activities after taxation deducted from reserves Â£475,781 Â£1,498,893 Â£3,772,861 Weighted average number of ordinary shares 26,857,172 26,377,172 26,702,513 in issue during the period 4. 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. END This information is provided by RNS The company news service from the London Stock Exchange D IR QDLFLLXBEBBL

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