Interim Results

County Contact Centres PLC 06 February 2006 COUNTY CONTACT CENTRES PLC INTERIM STATEMENT OF RESULTS FOR THE SIX MONTHS ENDED 31 DECEMBER 2005 Highlights 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2005 2004 2005 (unaudited) (unaudited) (audited) £ £ £ Turnover 1,313,410 1,367,307 2,619,343 Profit/(loss) on ordinary activities before tax 30,485 2,543 (114,757) • A profit before tax for the six-month period to December 2005 of £30,485 compared to a profit before tax of £2,543 for the corresponding prior year period. • Operating Profit of £35,397 compared with an Operating Loss of £2,137 for the corresponding prior year period • Positive cash flow in the period • First ever Cash Inflow from Operating Activities of £45,815 • Record billable minutes achieved in November 2005 • New Ansaback contracts signed for launch early 2006 • CallScripter Version 3.5 sold in America and Australia Further enquiries: William Catchpole Managing Director Stuart Gordon Financial Director Telephone 01473 321 800 Chairman's statement I am delighted to report that, in line with management's expectations, our results show a return to profit for the first six months. This follows the Romanian office closure, which adversely affected the first half of 2005. Both the Ansaback and CallScripter divisions have performed well over the period and the Board would like to congratulate the executives and staff who contributed. Ansaback The six month's trading saw an August dip in call minute activity followed by a significant up swing, which led to a new record high in billable minutes in November. With the contracts signed in December expected to further lift these billable minutes, this division is in a strong position for 2006. CallScripter CallScripter has continued to make steady progress, and prospects for the software remain good on both a domestic and global market basis, including further integration with soft telephone switch manufacturers. The ININ OEM collaboration, reported in the June 2005 accounts, has started to bear fruit and the EasyScripter product is planned for roll out into the US market in February 2006. There will, however, be a subsequent time lag before this produces sales in terms of installed seats. Two other international contracts were also secured, including our first sale into Australia, both of which could produce additional sales during 2006. September saw the launch of our new CallScripter 3.5 product at the UK's premier call centre showcase held at the Birmingham NEC. We were very pleased with the high level of interest shown in the product, especially since we had rationalised the size of the stand to minimise our cost without detriment to our image. CallScripter 3.5 has been enhanced to include a host of new functionality including a diary booking system, a real-time credit card checking module, a control integration tool and cross script reporting. It remains at the forefront of the scripting tools available to both bureau call centres and larger dedicated call centres that require a comprehensive scripting feature. County Contact Centres Cash continues to be a key factor in our business and I am pleased to report that the company made its first Cash Inflow from Operating Activities of £45,815, generating a net cash increase of £18,135 in the period, after repaying bank loans. The Board is satisfied that our existing facilities are adequate for the current business needs. As highlighted in the June accounts, Philip Dayer joined the board as a non-executive director in October and having worked in the advisory divisions of a number of investment banks is well placed to assist us in the development of the business. We are delighted to welcome him to further strengthen the Board. Finally, as a number of shareholders have expressed concern that our Share Price is not quoted in the Financial Times, the Board have decided to re-instate the listing but will keep the cost under review. This listing appears as 'CCC' under the AIM Companies - Industrials category. The Directors remain confident about the Group's future prospects. Peter M Brown Chairman 6 February 2006 CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE 6 MONTHS ENDED 31 DECEMBER 2005 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2005 2004 2005 Note (unaudited) (unaudited) (audited) £ £ £ Turnover 1,313,410 1,367,307 2,619,343 Cost of sales (686,215) (764,493) (1,635,366) ----- ----- ----- Gross profit 627,195 602,814 983,977 Administrative expenses (591,798) (604,951) (1,098,070) ----- ----- ----- Operating profit/(loss) 35,397 (2,137) (114,093) Other interest receivable and similar income 4 593 11,018 12,090 Interest payable and similar charges (5,505) (6,338) (12,754) ----- ----- ----- Profit/(loss) on ordinary activities before taxation 30,485 2,543 (114,757) Tax on loss on ordinary activities 5 - - - ----- ----- ----- Profit/(loss) on ordinary activities after taxation deducted from reserves 30,485 2,543 (114,757) Basic profit/(loss) per share 3 0.10p 0.01p (0.39p) There are no recognised gains or losses for the period other than the profit/ (loss) disclosed above. CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2005 31 December 31 December 30 June 2005 2004 2005 (unaudited) (unaudited) (audited) £ £ £ Fixed assets Tangible assets 5,470 55,909 23,756 ----- ----- ----- Current assets Debtors 456,262 482,282 482,955 Cash at bank and in hand 138,476 198,459 120,341 ----- ----- ----- 594,738 680,741 603,296 Creditors: amounts falling due within one year (395,356) (394,987) (427,685) ----- ----- ----- Net current assets 199,382 285,754 175,611 ----- ----- ----- Creditors: amounts falling due after more than one year (86,667) (136,663) (111,667) ----- ----- ----- Total assets less liabilities 118,185 205,000 87,700 ----- ----- ----- Capital and reserves Share capital 297,908 297,908 297,908 Share premium account 6,045,563 6,045,563 6,045,563 Merger reserve 18,396 18,396 18,396 Profit and loss account (6,243,682) (6,156,867) (6,274,167) ----- ----- ----- Shareholders' funds 118,185 205,000 87,700 ----- ----- ----- CONSOLIDATED CASH FLOW STATEMENT FOR THE SIX MONTHS ENDED 31 DECEMBER 2005 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2005 2004 2005 (unaudited) (unaudited) (audited) £ £ £ Net cash inflow/(outflow) from 45,815 (2,103) (35,646) operating activities Returns on investments and servicing of finance Interest received 4 593 11,018 12,090 Interest paid (5,505) (6,338) (12,754) ----- ----- ----- Net cash (outflow)/inflow from returns on investments and servicing of finance (4,912) 4,680 (664) ----- ----- ----- Capital expenditure and financial investment Purchase of fixed assets (3,118) (44,685) (63,166) Proceeds from sale of tangible 5,350 340 4,590 fixed assets ----- ----- ----- Net cash inflow/(outflow) from capital expenditure and financial investment 2,232 (44,345) (58,576) ----- ----- ----- Financing Repayments of borrowings (25,000) (25,000) (50,000) ----- ----- ----- Net cash outflow from financing (25,000) (25,000) (50,000) ----- ----- ----- Increase/(decrease) in cash 18,135 (66,768) (144,886) ----- ----- ----- 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 2005. The financial information relating to the 12 months ended 30 June 2005 has been extracted from the audited financial statements, which have been delivered to Companies House. 2. Ongoing business The directors have prepared forecasts, which reflect current performance, and these show that the group will continue to operate within its available resources for the foreseeable future. The directors therefore believe it is appropriate to prepare the financial statements on a going concern basis. 3. Profit/(loss) per ordinary share The calculation of the profit or loss per ordinary share is based on the profit or loss on ordinary activities after taxation deducted from reserves divided by the weighted average number of ordinary shares in issue during the relevant period: 6 months 6 months 12 months ended ended ended 31 December 31 December 30 June 2005 2004 2005 (unaudited) (unaudited) (audited) Profit/(loss) on ordinary activities after £ taxation deducted from reserves £30,485 £2,543 (114,757) Weighted average number of ordinary shares In issue during the period 29,790,743 29,790,743 29,790,743 4. Interest received The terms of the ten-year Ipswich office lease, which had a five-year break clause and rent review due in May 2005, were agreed and in August 2004 this review gave rise to the settlement and repayment of the cumulative interest arising on the deposit held by the landlord of £9,486. 5. Contingent liabilities In June 2004 the Inland Revenue raised a routine enquiry into certain aspects of the tax computation of the subsidiary, County Contact Centres (UK) Limited, for the year ended 30th June 2002 including the Research and Development tax credits of £51,499 received in respect of that year. This enquiry is still ongoing and whilst the Directors remain confident of the basis upon which the Research and Development tax credit claim was made, should the Inland Revenue not accept this basis the amount of £51,499 plus interest may be repayable. 6. 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. This information is provided by RNS The company news service from the London Stock Exchange

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