Access Intelligence PLC
10 August 2004
ACCESS INTELLIGENCE PLC
CHAIRMAN'S STATEMENT
UNAUDITED INTERIM RESULTS
for the six months' period from 1 December 2003 to 31 May 2004
Results
During our first full six months of trading as an AIM company, the Group has
incurred a trading loss of £128,000. Subscription income has continued to grow
and we anticipate that the Group will start to make a monthly profit before the
end of this financial year. As at the end of May 2004, the Group had cash
balances of £132,000.
The Marketing Guild
Subscribers to The Marketing Guild remained fairly constant throughout the
period. However, membership subscription rates have been increased to reflect
the improved level of service. In addition we have recently launched a new
Platinum Service at £1,800 per annum which includes a level of consultancy
support. Since the beginning of May we have accepted subscriptions at this
higher level. We now have six sales consultants marketing the Platinum Service.
Wired Gov
Wired Gov has increased its revenue from banner advertising and from public
bodies who are now using Wired Gov as a medium to disseminate their press
releases. We estimate that the service is now reaching over 10,000 desktops in
the UK which is almost twice as many as this time last year. Repeat revenues are
strong and market research shows that the service is highly regarded amongst
users.
Back up and Running
Back up and Running has doubled revenues within the last twelve months with many
new subscribers. The company has also invested in infrastructure and storage
capability which has significantly improved service levels. We have increased
the number of active resellers and invested in technical support.
Outlook
We expect our subscriber base to continue to expand in the second half of the
financial year and will continually look at ways to improve the service offering
of all companies. We will also continue to look for other acquisitions that will
expand our subscriber base and increase cross-selling opportunities.
Ian Savage
Chairman
10 August 2004
Background note:
Access Intelligence has three operating subsidiaries:
• The Marketing Guild which provides marketing advice and support to
small and medium sized businesses. This is in the form of newsletters,
consultancy, lead generation and member's services.
• Wired Gov provides an online information service delivering press
releases from over 100 government and public sector bodies. Subscribers can
customize the service specifying the agency or topic they require.
• Backup and Running plc provides an online data storage and disaster
recovery service which the client can customize to its own requirements. The
service offers significant advantages over other alternative systems in that
it backs up automatically and can provide a complete backup history for at
least three years.
All companies operate on a subscription basis and the group intends to focus on
the revenue method as a solid platform growth both organically and by
acquisition.
For further information contact:
Access Intelligence plc Colin Davies, Finance Director 01904 449020
W. H. Ireland Limited David W. Youngman 0161 832 6644
ACCESS INTELLIGENCE PLC
UNAUDITED CONSOLIDATED PROFIT AND LOSS ACCOUNT
for the period 1 December 2003 to 31 May 2004
6 months' period
01/12/03 to 31/05/04
£'000
Turnover
Continuing operations 299
Operating loss
Continuing operations (114)
Loss on ordinary activities before interest (124)
Interest payable 4
Loss before taxation (118)
Taxation 0
Loss after taxation (118)
Dividends 0
Retained loss in period (118)
Earnings / (Loss) per share
Basic and diluted (0.2p)
ACCESS INTELLIGENCE PLC
UNAUDITED CONSOLIDATED BALANCE SHEET
as at 31 May 2004
Unaudited
31/05/04
£'000 £'000
Fixed assets
Goodwill 2556
Tangible assets 125
2681
Current assets
Debtors 96
Cash at bank 132
228
Creditors falling due within
one year (176)
Net current assets 52
Total assets less current liabilities 2,733
Creditors falling due after one year (181)
2,552
Capital and reserves
Called up share capital 367
Share premium account 2,329
Profit and loss account (144)
Equity shareholders' funds 2,552
ACCESS INTELLIGENCE PLC
UNAUDITED CONSOLIDATED CASHFLOW STATEMENT
for the period 1 December 2003 to 31 May 2004
6 months' period
01/12/03 to 31/05/04
£'000 £'000
Operating loss (114)
Movement in working capital (368)
Net cash inflow from operating
activities (482)
Acquisition costs (7)
Capital Expenditure (31)
Net cash outflow before use of liquid
resources and financing (520)
Loan Repayments (29)
Decrease in cash in period 549
Analysis of net funds
Cash at bank and in hand 183
Overdraft (51)
132
Debt repayable by instalments:
Due within one year (60)
Due after more than one year (179)
(239)
(107)
ACCESS INTELLIGENCE PLC
UNAUDITED INTERIM ACCOUNTS
for the period 1 December 2003 to 31 May 2004
Notes
1. The company was incorporated in June 2003 and, therefore,
there are no comparative figures for the previous period.
2. The results are unaudited and they do not constitute
statutory accounts within the meaning of Section 240 of the Companies Act
1985.
3. The calculation of earnings per share for the period is
based on the loss after taxation divided by the average weighted number of
ordinary shares in issue being 28,253,378
This information is provided by RNS
The company news service from the London Stock Exchange
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