Interim Results

Totally PLC 30 September 2002 For Immediate Release 30th September 2002 Totally Plc ('Totally' or 'the Company') Interim announcement of results for the six month period ended 30th June 2002 Highlights • Increase in advertising revenue of 23 per cent compared to the same period last year • Loss before taxation reduced by 59 per cent compared to the same period of last year. • Incorporation of a US based joint venture with Ha'aretz, one of Israel's leading communications and media groups Chairman's Statement I have been pleased with the Company's performance for the six months to June 2002. Compared to the same period last year, group revenues have grown by 3 per cent, expenses have reduced by 24 per cent, and there has been a 59 per cent reduction in the loss before taxation, to £236,080 in 2002 from £573,796 in 2001. Across London Jewish News and www.totallyjewish.com advertising revenues have increased from £511,140 for the same period last year, to £627,010 for the period under review, an increase of 23 per cent. Given the current economic climate, and the general downturn in the publishing sector, this performance is extremely encouraging. The Group has started to benefit from the introduction of a number of ancillary services. Dating subscriptions have increased dramatically since the beginning of the year. The Jewish Lottery has now been launched and is making a positive contribution to the Group's performance and announcements and subscription revenues are starting to build. Totally Communications Limited, the technical and marketing arm of the Group, had a poor first quarter. This accounts for the lack of material growth in the group's overall revenue for the six months to June 2002. Subsequently, significant contracts have been won from some of the UK's largest Jewish communal organisations and other commercial entities. These contracts have varied in nature, but include the provision of technical consulting services; the development of Internet and Intranet solutions based around the Company's own Content Management Solution and the creation of marketing collateral on behalf of clients. This part of the Company's operation is already profitable. During the period under review the Company raised £275,000 before expenses by way of a placing of new ordinary shares. I was encouraged to see the current executives and a number of the management team participate in the placing. This is indicative of the commitment shown by both the executives and management team and their confidence in the Company's potential. Prospects UK Operations Over the second half of this year, the Directors believe that the Group's performance will continue to improve. Jewish Media Corporation Today there are more than 10 million Jewish people living outside of Israel, of whom approximately 7.75 million live within distinct communities numbering 50,000 people or more. There are about 50 such communities worldwide. In July this year, with no capital commitment, Totally co-founded Jewish Media Corporation, a corporation domiciled in Delaware, USA. Jewish Media Corporation has been created to develop, via start-up and acquisition, a network of weekly newspapers, magazines, and associated websites targeting these distinct Jewish communities. Totally has a shareholding of 50 per cent of the common stock in this corporation, as does Ha'aretz Group, our partner in this new endeavour. Ha'aretz is one of Israel's leading communications and media groups. After significant research, Jewish Media Corporation has identified its first target community and negotiations regarding a potential acquisition are well under way. Jewish Media Corporation is seeking to raise additional capital for this venture and is currently marketing to potential investors. It is hoped that further announcements about this new venture will be made in the near future. Dr Michael Sinclair Chairman 30th September, 2002 Profit and loss account For the 6 months ended 30th June 2002 6 months ended 6 months ended Year ended 30th June 30th June 31st December 2002 2001 2001 (unaudited) (unaudited) (audited) Note £ £ £ Turnover 766,571 744,640 1,460,039 Other operating income - 6,097 Cost of sales (50,186) - - Staff costs (499,221) (615,704) (1,139,409) Depreciation and write offs (34,611) (144,094) (2,304,408) Other operating charges (410,795) (561,370) (1,058,533) -------- -------- -------- Total expenses (994,813) (1,315,071) (4,502,350) -------- -------- -------- Operating loss (228,242) (570,431) (3,042,311) Interest receivable 42 5,259 6,542 Interest payable (7,880) (8,624) (17,080) -------- -------- -------- Loss on ordinary activities before taxation (236,080) (573,796) (3,052,849) Taxation - - - -------- -------- -------- Retained loss for the period (236,080) (573,796) (3,052,849) ======== ======== ======== Loss per share - basic 3 (0.61)p (2.03)p (9.81)p Loss per share - basic and diluted 3 (0.61)p (2.03)p (9.81)p Loss per share before goodwill amortisation - basic 3 (0.61)p (1.64)p (2.87)p ======== ======== ======== Balance sheet As at 30th June, 2002 As at As at As at 30th June 2002 30th June 2001 31st December (unaudited) (unaudited) 2001 (audited) £ £ £ Fixed assets Investments - 68,835 - Intangible assets - goodwill - 2,050,372 - Tangible fixed assets 43,393 81,567 52,630 -------- -------- -------- 43,393 2,200,774 52,630 Current assets Debtors and prepayments 328,052 466,807 410,874 Cash at bank and in hand 4,586 157,877 13,972 -------- -------- -------- 332,638 624,684 424,846 Creditors Trade creditors (202,873) (321,302) (179,552) Loans and overdrafts (57,582) - (254,333) Accruals (71,202) (32,964) (55,850) Finance leases (4,943) (5,851) (6,148) Other taxation and social security (33,145) (29,181) (27,802) -------- -------- -------- (369,745) (389,298) (523,685) Net current assets/(liabilities) (37,107) 235,386 (98,839) Total assets less current liabilities 6,286 2,436,160 (46,209) Creditors - amounts falling due after more than one year: finance leases (184) (5,136) (1,982) -------- -------- -------- Net assets/(liabilities) 6,102 2,431,024 (48,191) ======== ======== ======== Capital and reserves Share capital 527,897 337,255 337,258 Share premium account 2,168,217 2,068,482 2,068,483 Merger reserve - 3,015,530 - Profit and loss account (2,690,012) (2,990,243) (2,453,932) -------- -------- -------- Equity shareholders' funds/(deficit) 6,102 2,431,024 (48,191) ======== ======== ======== Notes to the Interim Results 1. Basis of preparation The Interim Accounts for the six months ended 30th June 2002 are unaudited and do not constitute statutory accounts in accordance with section 240 of the Companies Act 1985. 2. Dividends No dividend is proposed for the six months ended 30th June 2002. 3. Loss per share The basic loss per share has been calculated by dividing the retained loss for the period of £236,080 by the weighted average number of ordinary shares of 38,415,918 in issue during the period. The diluted loss per share is the same as the basic loss per share, in accordance with FRS 14 which prescribes that potential ordinary shares should only be used as dilutive when, and only when, their conversion to ordinary shares would decrease net profit or increase net loss per share from continuing operations. The loss per share before goodwill and amortisation is based on a loss of £236,080. 4. Copies of Interim Results Copies of the Interim Results will be sent to shareholders shortly and will be available to members of the public from the Company's registered office, Aquis Court, 31 Fishpool Street, St Albans, Hertfordshire AL3 4RF. Full accounts for the period ended 31 December 2001, on which the auditors gave an unqualified report and contained no statement under Section 237 (2) or (3) of the Companies Act 1985, have been delivered to the Registrar of Companies. Enquiries Totally Plc Steve Burns Tel: 020 7692 6929 John East & Partners Limited John East Tel: 020 7628 2200 Simon Clements This information is provided by RNS The company news service from the London Stock Exchange

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