Interim Results

CCH International plc 31 January 2006 CCH INTERNATIONAL PLC UNAUDITED SECOND INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 OCTOBER 2005 I have pleasure in reporting that the Company posted a profit before tax of Â£367,912 for the twelve months to 31 October 2005, an increase of over nine times compared with the year ended 31 October 2004. Basic earnings per share improved over five fold to 0.47p. Net Assets have increased more than three times to Â£1,863,731 during the 12 month period to 31 October 2005. By far the most significant event over the last six months has been the successful integration of the short term receivables discounting business of CCH Europe GmbH, our Dusseldorf based wholly owned subsidiary. On 17 September 2005 the Company formed a new subsidiary, CCH Holdings SPC in the Kingdom of Bahrain and we believe this will help further develop our strategic positioning in the Middle East. The Company changed its accounting reference date from 31 October to 31 December in order to synchronise the accounting reference dates of the Group. Accordingly, we will publish audited accounts for the 14 month period to 31 December 2005. We are confident that our strategy for growth is on track and will deliver shareholder value. Ian Salter Chairman 30 January 2006 CCH INTERNATIONAL PLC CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE TWELVE MONTHS TO 31 OCTOBER 2005 Six months Twelve months Twelve months to 31 October to 31 October to 31 October 2005 2005 2004 (Unaudited) (Unaudited) (Audited) Â£ Â£ Â£ Turnover 2,970,118 3,319,647 992,193 Cost of sales (1,659,226) (1,753,280) (540,698) Gross profit 1,310,892 1,566,367 451,495 Administrative expenses (986,469) (1,195,653) (412,698) Operating profit 324,423 370,714 38,797 Interest receivable and similar income 4,690 4,732 145 Interest payable and similar charges (7,534) (7,534) (1,826) Profit on ordinary activities before taxation 321,579 367,912 37,116 Tax on profit on ordinary activities (74,693) (74,693) - Profit on ordinary activities after taxation 246,886 293,219 37,116 Earnings per share Basic earnings per share 0.31p 0.47p 0.08p Turnover is derived wholly from continuing activities CCH INTERNATIONAL PLC CONSOLIDATED BALANCE SHEET AT 31 OCTOBER 2005 31 October 31 October 2005 2004 (Unaudited) (Audited) Â£ Â£ FIXED ASSETS Tangible assets 137,886 228,913 Intangible assets 554,396 - Investments 49,333 - 741,615 228,913 CURRENT ASSETS Debtors 72,684,117 310,346 Cash at bank 2,914,533 119,320 75,598,650 429,666 CREDITORS: Amounts falling due within one year (74,476,534) (85,134) NET CURRENT ASSETS 1,122,116 344,532 TOTAL ASSETS LESS CURRENT LIABILITIES 1,863,731 573,445 CAPITAL AND RESERVES Called-up equity share capital 1,396,825 1,044,444 Share premium account 955,710 417,615 Other reserves 85,224 - Profit and loss account (574,028) (888,614) SHAREHOLDERS' FUNDS 1,863,731 573,445 CCH INTERNATIONAL PLC CONSOLIDATED CASH FLOW STATEMENT FOR THE TWELVE MONTHS ENDED 31 OCTOBER 2005 Twelve months Twelve months to 31 October to 31 October 2005 2004 (Unaudited) (Audited) Â£ Â£ NET CASH (OUTFLOW)/INFLOW FROM OPERATING ACTIVITIES (23,739,047) 90,259 RETURNS ON INVESTMENTS AND SERVICING OF FINANCE Interest received 4,732 145 Interest paid (7,534) (1,826) NET CASH OUTFLOW FROM RETURNS ON INVESTMENTS AND (2,802) (1,681) SERVICING OF FINANCE TAXATION (1,850) - CAPITAL EXPENDITURE AND FINANCIAL INVESTMENT Net inflow from tangible fixed assets 3,707 - Purchase of listed investment (49,333) - NET CASH OUTFLOW FROM CAPITAL EXPENDITURE AND FINANCIAL (45,626) - INVESTMENT ACQUISITIONS AND DISPOSALS Costs on acquisition of subsidiary (68,960) - Net cash on acquisition 2,096,760 - NET CASH INFLOW FROM ACQUISITIONS AND DISPOSALS 2,027,800 - CASH (OUTFLOW)/INFLOW BEFORE MANAGEMENT OF LIQUID (21,761,525) 88,578 RESOURCES AND FINANCING FINANCING Increase in debt 24,556,738 - INCREASE IN CASH 2,795,213 88,578 CCH INTERNATIONAL PLC CONSOLIDATED CASH FLOW STATEMENT (cont.) FOR THE TWELVE MONTHS ENDED 31 OCTOBER 2005 Reconciliation of net cashflow to movement in net debt Â£ Â£ Increase in cash 2,795,213 Cash inflow from increase in debt (24,556,738) Change in net debt resulting from cash flows (21,761,525) Loans acquired with subsidiary (30,132,820) Movement in net debt in the period (51,894,345) Net cash at 1.11.04 119,320 Net debt at 31.10.05 (51,775,025) Notes: 1. The financial statements have been prepared in accordance with applicable UK accounting standards and under the historical cost convention. The principal accounting policies of the Company are set out in the Company's 2004 annual report. 2. The financial information set out above does not constitute statutory accounts as defined in section 240 of the Companies Act 1985. Statutory accounts for the twelve months to 31 October 2004, on which the report of the auditors was unqualified, have been filed with the Registrar of Companies. 3. On 10 May 2005 the Company completed the acquisition of CCH Europe GmbH for a consideration of Â£1,190,476 which was satisfied by the issue of 39,682,539 new ordinary 1p shares at 3p per share. On 17 September 2005 the Company formed a new subsidiary, CCH Holdings SPC. 4. Basic earnings per share have been calculated on the basis of the number of shares in issue held outside of the group of 79,682,539 (2004 - 44,444,444) during the six months to 31 October 2005 and a weighted average of 62,063,491 shares during the twelve months to that date and profit after tax during these periods of Â£246,886 and Â£293,219 respectively. 5. The directors are not declaring a dividend for the period. 6. Copies of this report are being sent to all shareholders and can be viewed on the Company's web-site 'www.cch-international.com' This information is provided by RNS The company news service from the London Stock Exchange

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