Interim Results to 30/06/2000
Totally PLC
24 July 2000
Interim Results for the eight-month Period Ended 30th June 2000
Highlights
Highlights for the eight months to 30th June 2000:
* Revenues of £156,000 for the 4 month period from 1st March to 30th June 2000
* Cash burn per month reduced from £165,000 (Feb 2000) to £65,000 (June 2000)
* £1.06 million currently held on deposit
* Infrastructure built to support future projects
* Substantial opportunities to expand the business over the coming months have
been identified
Tony Caplin, Non-Executive Chairman commented:
'Since Totally's flotation I have been very pleased with the progress made. A
robust revenue stream has been created, cash burn is decreasing monthly and an
infrastructure to support future projects has been established. The group is
now in a position to roll out other electronic publications targeted at niche,
affluent communities.'
Chairman's Statement
Since the flotation in January, the Group has been very focused on developing
its first electronic publication, totallyjewish.com, and an infrastructure to
support future projects.
totallyjewish.com
totallyjewish.com was launched on 1st March 2000 and to date we have received
sponsorship and advertising from a number of recognised brands, including
Legal & General, SelfTrade, Wideyes, Thomas Cook and Tesco. Many of these
relationships are 12 month contracts and are of a strategic nature. Other
revenue streams including e-commerce, content syndication, database marketing
and ancillary services will start to grow over the coming months.
From the launch in March to 30th June 2000 the site has generated £156,000 of
revenue, with a contracted order book at 1st July, 2000 of in excess of
£120,000. As the business has become more established, marketing, technology
and infrastructure costs have reduced, revenues have increased, and thus the
monthly cash burn rate has reduced from £165,000 (Feb '00) to £65,000 (June
'00).
Penetration into the UK Jewish market has been significant with approximately
50,000 unique users visiting the site since its launch. Partnership agreements
have been signed with a significant number of entities within the UK's Jewish
establishment, including The Board of Deputies, Jewish Care, UJIA, Norwood
Ravenswood, Maccabi Primary Soccer League, Manchester Jewish Soccer League,
Jewish Charity Yearbook and All Aboard.
Group Infrastructure
The Group's infrastructure has been developed to support future projects. The
technology team has developed a robust and scaleable solution; the sales team
is now able to focus on a portfolio sell rather than focussing on the one
product; and new premises have been found which allow for growth in personnel.
Other
Within the profit and loss account there is an exceptional charge of £239,313
which is in relation to the acquisition of Kosheronline Plc and Kosher Limited
made prior to our flotation on AIM and referred to in our prospectus issued in
January 2000.
Adam Crow who joined the Company in December 1999 as Sales Director will be
leaving at the end of July to pursue his private interests. Adam has been
responsible for building the sales team and the sales process. Having
completed this assignment the Company wishes him well. Steve Burns will take
over responsibility for sales and at an appropriate time in the future a new
Sales Director will be appointed.
The Future
totallyjewish.com is the first of a number of niche community sites Totally
will create over the next twelve months. Economies with regards to technology,
sales, marketing and general infrastructure are designed to ensure future
projects move to profitability in the shortest timescale possible.
There are substantial opportunities available to us and we are currently
evaluating a number of them. When these happen, they will have a significant
impact on the Group. Shareholders will be kept fully informed of developments.
Finally I would like to thank the Company's employees and advisers for all
their hard work over the last eight months.
Tony Caplin
Non-Executive Chairman
24th July 2000
TOTALLY Plc
Unaudited Consolidated Profit and Loss Account
For the Period 28th October 1999 to 30th June 2000
TURNOVER 155,623
EXPENSES
Wages and Salaries 384,445
Other Operating Charges
Ordinary Charges 514,434
Exceptional Item 239,313
TOTAL EXPENSES 1,138,192
OPERATING LOSS (982,569)
Interest Received 30,298
LOSS ON ORDINARY
ACTIVITIES BEFORE TAX (952,271)
TAXATION 0
RETAINED LOSS FOR THE PERIOD (952,271)
LOSS PER SHARE 7.7p
TOTALLY Plc
Unaudited Consolidated Balance Sheet at 30th June 2000
FIXED ASSETS
Short Leasehold Improvements 37,379
Computer Equipment 35,557
72,936
CURRENT ASSETS
Debtors and Prepayments 365,363
Cash at Bank and in Hand 1,064,354
1,429,717
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade Creditors 295,503
Accruals 48,656
Taxation and Social Security 21,145
365,304
NET CURRENT ASSESTS 1,064,413
NET ASSETS 1,137,349
CAPITAL AND RESERVES
Called Up Share Capital 153,813
Share Premium Account 1,935,807
Profit and Loss Account -952,271
EQUITY SHAREHOLDERS'S FUNDS 1,137,349
NOTES:
1. Results
The interim accounts for the period ended 30th June, 2000 are unaudited and do
not constitute statutory accounts within the meaning of section 240 of the
Companies Act 1985.
2. Dividends
The Directors are not declaring an interim dividend for the period ended 30th
June, 2000.
3. Loss Per Share
The calculation of the loss per share is based on the loss of £952,271 and on
12,430,424 Ordinary Shares, being the weighted average number of shares in
issue during the period.
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.
For Further Information please contact:-
Steve Burns 020 7 692 6929
Chief Executive
Totally plc
Adam Reynolds/Takki Sulaiman 020 7 735 9415/0378 419218
Hansard Communications.Com Ltd