Interim Results

PRESS RELEASE
For release: 27 January 2009


The Core Business: Preliminary Results - Half Year ended 30 November
                                2008

The Core Business PLC, ('the Company') the innovative beauty brand
business is pleased to announce its preliminary results for the half
year to 30 November 2008.


HIGHLIGHTS

  * Revenue for the half year increased by approximately 55% to
    £1,506,000 versus £972,000 for the corresponding half year period
    last year.

  * Reduced loss for the half year of £76,000 (six months to 30
    November 2007: £143,000 loss).

  * The Company's focus on distributing brands into major retailers
    and creating and owning its own brands has had a significant
    effect on revenues. Bloom colour cosmetics, a distributed brand
    under a five year exclusive UK agreement, launched in September
    2008 and generated sales of £458,000 in the half year period.
    Grace Your Face, an innovative wholly owned skin care solutions
    brand, launched in June and delivered sales of just below
    £100,000 for the period.

  * Elite Models Beauty accessories - sold in Superdrug and Tesco
    stores - delivered sales of £178,000 for the period, an increase
    of 1.4% on the corresponding half year period last year.

  * Consultancy contracts delivered revenues of £54,000, an increase
    of £15,000 on the corresponding half year period last year, but
    in line with the Company's strategy of focussing on distributing
    and owning brands.


 CHIEF EXECUTIVE'S STATEMENT

Despite the downturn in consumer spending, the Company has performed
well in the half year period growing sales by approximately 55% to
£1,506,000. The Company concentrates its efforts in the beauty
business, a sector which has historically proved resilient to the
effects of recession. In each of the last three recessions the
personal care sector has outperformed the market - an economic
indicator known as the 'Lipstick Factor', where consumers unable to
afford high ticket items will spoil themselves on small low cost
indulgent products such as lipsticks. The Company, with its
cosmetics, skincare and beauty accessories brands and its penetration
in volume mass and mid retail distribution channels, is well placed
to take advantage of consumers trading down and seeking high quality
value-for-money products.

To increase efficiency, improve communication and save costs the
Company moved all its operations to the Amirose site during the half
year. In addition the Board has been strengthened with the
appointment of Matt Cooper as Non-Executive Chairman and Muriel
Zingraff as Non-Executive Director.

Mr Cooper is Chairman of Octopus Investments Limited, one of the UK's
leading venture capital fund managers, a Non-Executive Director at
Carbon Search Limited, and Chairman at TDX Group Limited and 10Duke
Software Limited. Prior to joining Octopus, he was the Principal
Managing Director of Capital One Bank (Europe) plc where he was
responsible for all aspects of the company's strategic direction and
day-to-day operations in Europe.

Ms Zingraff has over 20 years' experience in the luxury goods,
fashion and retail industry and has developed brands for
international companies such as Jimmy Choo, La Quinta and Paco
Rabanne. More recently, Ms Zingraff was a main board director of
Harrods, where she was responsible for women's wear, accessories and
beauty products. Currently, Ms Zingraff acts as a senior consultant
to 3i Group advising on their luxury goods, fashion and retail
investments and corporate finance transactions.

The business operates in a highly dynamic fast changing market where
"newness" is vital. The Core Business has a strategic objective of
delivering 35% of sales from products or brands that are newly
launched and were unavailable in the previous year. For the half year
period new brands have accounted for 36% of sales. This strategy
requires a strong focus on new product development and continual
critical assessment of new brand distribution opportunities. This
takes a high proportion of management time but will be worthwhile as
we seek to build critical mass in revenue and profitability.


FINANCIAL OVERVIEW

Turnover for the six months to 30 November 2008 was up by
approximately 55% to £1,506,000 (six months to 30 November 2007:
£972,000) and the loss for the half year was £76,000 (six months to
30 November 2007: £143,000 loss) equivalent to 0.03 pence loss per
share (six months to 30 November 2007: 0.10 pence loss per share). Of
this total turnover figure The Core Business generated £868,000 (58%
of sales) and Amirose £638,000 (42% of sales).

The Group's net assets at 30 November were £1,569,000, £261,000
higher than at 31 May 2008. The increase is due to the issue of
shares for cash in June 2008. Total liabilities were £989,000, a
decrease of £395,000 since 31 May 2008. The decrease is due to the
repayment of loan notes and a reduction in trade and other payables.


OUTLOOK

We have continued to build our business through brand distribution
and development and are encouraged by the continued volume and
quality of opportunities we are sourcing. We are confident that our
strategy to focus on distributing and developing brands leaves us
well placed to create value for our shareholders in the years to
come.


Stirling Murray
Chief Executive

ENDS


For further information, please contact:


The Core Business PLC                       www.thecorebusiness.co.uk
Stirling Murray, Chief Executive            020 8559 8244
Alastair Kennedy, Finance Director          020 8559 8244

Blomfield Corporate Finance Ltd
(Nomad)
Nick Harriss                                020 7489 4500
Emily Morgan                                01275 871717

SVS Securities plc (Broker)
Ian Callaway                                020 7638 5600



Notes to Editors
The Core Business was established in May 2004 by Stirling Murray to
create, develop, launch and distribute personal care and beauty
brands. It also provides consultancy and brand management services.
The Company was listed on AIM in March 2006 under the ticker 'CORE.'

CONSOLIDATED INCOME STATEMENT
HALF YEAR TO 30 NOVEMBER 2008


Group                              6 months     6 months         Year
                                      ended        ended        ended
                                   30/11/08     30/11/07      31/5/08
                         Notes            £            £            £
Revenue                           1,505,628      972,029    2,163,894
Cost of sales                     (805,742)    (489,461)  (1,118,659)
                                    _______      _______      _______
Gross profit                        699,886      482,568    1,045,234

Sales and marketing               (168,933)     (79,804)    (234,751)
Administration costs              (576,939)    (520,722)  (1,462,644)
                                    _______      _______      _______
Operating loss                     (45,986)    (117,958)    (652,161)

Analysed as:             3
Operating loss before              (45,986)       31,592    (109,201)
exceptional items
Exceptional items                         -    (149,550)    (542,960)
                                    _______      _______      _______
Operating loss                     (45,986)    (117,958)    (652,161)

Financial income                      1,208        4,314        6,268
Financial expense                  (30,853)     (29,655)     (64,996)
                                    _______      _______      _______
Loss before tax                    (75,631)    (143,299)    (710,889)

Income tax credit                         -            -       40,096
                                   _______      _______      _______
Loss for the year        2         (75,631)    (143,299)    (670,793)
                                    =======      =======      =======
Loss per share
Basic and diluted              (0.03 pence) (0.10 pence) (0.42 pence)



CONSOLIDATED BALANCE SHEET
HALF YEAR ENDED 30 NOVEMBER 2008


Group                                       As at     As at     As at
                                         30/11/08  30/11/07   31/5/08
                                  Notes         £         £         £
Assets
Non-current assets
Property, plant and equipment             185,214   115,365    95,376
Goodwill                                1,648,971 1,648,971 1,648,971
Financial assets                                -    21,706         -
                                          _______   _______   _______
                                        1,834,185 1,786,042 1,744,347

Current Assets
Inventories                               266,776   399,191   435,275
Trade and other receivables               328,886   286,211   344,409
Current tax assets                         40,096         -         -
Cash and cash equivalents                  87,776   179,802   168,473
                                          _______   _______   _______
                                          723,534   865,204   948,157
                                         _______   _______   _______
Total assets                            2,557,719 2,651,246 2,692,504
                                          =======   =======   =======
Equity and liabilities
Equity attributable to the
Company's equity holders
Share capital                     4     1,267,412 1,016,776 1,017,412
Equity reserve                             10,722         -    10,722
Share premium                           1,182,681 1,095,794 1,096,431
Retained earnings                       (892,281) (682,565) (816,650)
                                          _______   _______   _______
                                        1,568,534 1,430,005 1,307,915

Current liabilities
Trade and other payables                  370,857   459,497   564,642
Borrowings                                618,328   460,313   762,713
Current tax liabilities                         -         -    57,234
                                          _______   _______   _______
                                          989,185   919,810 1,384,589

Non Current liabilities
Loan notes                                      -   301,431         -
                                          _______   _______   _______
                                                -   301,431         -
                                         _______   _______   _______
Total liabilities                         989,185 1,221,241 1,384,589
                                         _______   _______   _______
Total equity and liabilities            2,557,719 2,651,246 2,692,504
                                          =======   =======   =======




CONSOLIDATED CASH FLOW STATEMENT
HALF YEAR TO 30 NOVEMBER 2008


Group                                6 months    6 months        Year
                              Notes     ended       ended       ended
                                     30/11/08    30/11/07     31/5/08
                                            £           £           £
Cash flows from operating
activities
Cash generated from operating 6      (40,349)    (10,767)      77,475
activities
Interest paid                        (30,853)    (29,655)    (64,996)
Tax paid                             (97,330)           -           -
                                      _______     _______     _______
                                    (168,532)    (40,422)      12,479
Cash flows from investing
activities
Purchases of property, plant        (105,239)   (111,539)   (112,009)
and equipment
Acquisition of subsidiary                   - (2,002,548) (2,002,548)
Interest received                       1,208       4,314       6,268
                                      _______     _______     _______
Net cash (used in) investing        (104,031) (2,109,773) (2,108,289)
activities

Cash flows from financing
activities
Net proceeds on issues of             336,250   1,411,273   1,411,273
shares
Proceeds on issue of loan                   -     850,000     850,000
notes
Repayment of loan notes             (144,384)    (10,852)    (76,566)
                                      _______     _______     _______
Net cash (used in)/from               191,866   2,250,421   2,184,707
financing activities

Net increase/(decrease) in           (80,697)     100,226      88,897
cash and cash equivalents

Cash and cash equivalents at          168,473      79,576      79,576
beginning of year
                                      _______     _______     _______
Cash and cash equivalents at           87,776     179,802     168,473
end of year
                                      =======     =======     =======
Bank balances and cash                 87,776     179,802     168,473
                                      =======     =======     =======



NOTES TO THE ACCOUNTS

1.         Accounting policies
The principal accounting policies are as set out in the May 2008
annual report.

The financial statements of The Core Business PLC have been prepared
in accordance with International Financial Reporting Standards
(IFRS), IFRIC interpretations endorsed by the European Union and with
those parts of the Companies Act 1985 applicable to companies
reporting under IFRS. These financial statements have been prepared
under the historic cost convention.

The preparation of financial statements in conformity with generally
accepted accounting principles requires the use of estimates and
assumptions that affect the reported amounts of assets and
liabilities at the date of the financial statements and the reported
amounts of revenues and expenses during the reporting period.
Although these estimates are based on management's best knowledge of
the amount, event or actions, actual results ultimately may differ
from those estimates.


2.         Loss per share

                                     6 months    6 months        Year
                                        ended       ended      ended
                                     30/11/08    30/11/07     31/5/08
                                            £           £           £
Loss for the purpose of basic and    (75,631)   (143,299)   (670,793)
diluted loss per share

Number of shares                     6 months    6 months        Year
                                        ended       ended       ended
                                     30/11/07    30/11/07     31/5/07
                                          No.         No.         No.
Weighted average number of
ordinary shares:
- for the purposes of basic and   251,020,916 140,623,891 160,451,379
diluted loss per share


The impact of warrants not exercised is anti dilutive.

3.         Exceptional items

Exceptional items are events or transactions that fall within the
activities of the Group and which by virtue of their size or
incidence have been disclosed in order to improve a reader's
understanding of the financial statements.


                                            6 months 6 months    Year
                                               ended    ended  ended
                                            30/11/08 30/11/07 31/5/08
                                                   £        £       £
Charge in respect of warrants issued during        -        - 393,410
the year
Costs in respect of acquisition of Amirose         -  149,550 149,550
International
                                             _______  _______ _______
Total exceptional items                            -  149,550 542,960
                                             =======  ======= =======



4.         Share capital

                                 6 months      6 months          Year
                                    ended         ended         ended
                                 30/11/08      30/11/07       31/5/08
                                      No.           No.           No.
Authorised:
Ordinary shares of £0.005   1,000,000,000 1,000,000,000 1,000,000,000
Issued and fully paid:
Reported as at 1 June         203,482,454    42,396,447    42,396,447
Issue of shares                50,000,000   160,958,730   161,086,007
                                  _______       _______       _______
Reported as at end of         253,482,454   203,355,177   203,482,454
period
                                  =======       =======       =======




                                6 months  6 months      Year
                                   ended     ended     ended
                                30/11/08  30/11/07   31/5/08
                                       £         £         £
Authorised:
Ordinary shares of £0.005 each 5,000,000 5,000,000 5,000,000

Issued and fully paid:
Reported as at 1 June          1,017,412 211,982   211,982
Issue of shares                250,000   804,794   805,430
                                 _______   _______   _______
Reported as at end of period   1,267,412 1,016,776 1,017,412
                                 =======   =======   =======


On 6 June 2008, the Company raised £240,000 through the issue of
32,000,000 new ordinary shares of nominal value 0.5 pence each at a
placing price of 0.75 pence. This represented 13.6 per cent of the
enlarged issued share capital of the Company.

On 17 June 2008, the Company raised £135,000 through the issue of
18,000,000 new ordinary shares of nominal value 0.5 pence each at a
placing price of 0.75 pence. This represented 7.1 per cent of the
enlarged issued share capital of the Company.

At 30 November 2008 warrants over 93,372,723 ordinary shares were
outstanding.


   Date of     At     Granted Exercised Forfeits     At     Exercise/ Exercise/Vesting
     grant   1 June            /vested             30 Nov       Share             date
                                                                price
              2008                                  2008                  From      To
  Warrants
  8/3/06   6,500,000     -        -        -     6,500,000    6.0p      8/3/06  8/3/11

  27/7/07  86,872,723    -        -        -     86,872,723   1.0p     27/7/07 27/7/12




5.         Status of financial information

The interim results for the six months ended 30 November 2008 are
unaudited and do not constitute statutory accounts within the meaning
of section 240 Companies Act 1985. The figures for the year ended 31
May 2008 and for the six months ended 30 November 2007 have been
extracted from audited accounts for those periods.


6.         Note to the cash flow statement


                                         6 months  6 months      Year
                                            ended     ended     ended
                                         30/11/08  30/11/07   31/5/08
                                                £         £         £
Loss for the period                      (75,631) (143,299) (670,793)
Adjustments for:
 - Taxation                                     -         -  (40,096)
 - Finance expense                         29,645    25,341    58,728
 - Depreciation                            15,401     6,842    27,303
Share based payment                             -         -   472,085
Changes in working capital:
 - (Increase)/decrease in trade and        15,522   209,720   151,522
other receivables
 - (Increase)/decrease in inventories     168,499 (164,196) (200,280)
 - Decrease in financial assets                 -         -    21,706
 - Increase/(decrease) in trade and     (193,785)    54,825   257,300
other payables
                                          _______   _______   _______
Cash used in operations                  (40,349)  (10,767)    77,475
                                          =======   =======   =======

---END OF MESSAGE---




This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement.