Interim Results

Netcentric Systems PLC 30 June 2005 NETCENTRIC SYSTEMS PLC PROFIT AND LOSS ACCOUNT FOR THE SIX MONTHS ENDED 31 MARCH 2005 6 months ended 31 March 2005 6 months ended 31 March 2004 Year ended Unaudited Unaudited 30 September 2004 Audited Â£'000 Â£'000 Â£'000 TURNOVER - 5 5 Net operating expenses (36) (59) (157) ------------ ------------ -------------- OPERATING LOSS (36) (54) (152) Provision for investment - - (30) write-downs - (13) - Amounts written off investments ------------ ------------ -------------- LOSS ON ORDINARY ACTIVITIES BEFORE INTEREST (36) (67) (182) Interest income 2 3 4 ------------ ------------ -------------- LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (34) (64) (178) Taxation - - - ------------ ------------ -------------- LOSS FOR THE YEAR (34) (64) (178) ------------ ------------ -------------- LOSS PER SHARE - BASIC (0.02)p (0.05)p (0.13)p ------------ ------------ -------------- NETCENTRIC SYSTEMS PLC STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES FOR THE SIX MONTHS ENDED 31 MARCH 2005 6 months ended 31 March 2005 6 months ended 31 March 2004 Year ended Unaudited Unaudited 30 September 2004 Audited Â£'000 Â£'000 Â£'000 Loss for the financial year (34) (64) (178) Revaluation of investment - (12) (12) ------------ ------------ -------------- Total gains and losses recognised in the financial (34) (76) (190) statements since the last annual report ------------ ------------ -------------- NETCENTRIC SYSTEMS PLC BALANCE SHEET AS AT 31 MARCH 2005 31 March 2005 31 March 2004 30 September 2004 Unaudited Unaudited Audited Â£'000 Â£'000 Â£'000 FIXED ASSETS Investments - 17 - ------------ ------------ ------------ - 17 - CURRENT ASSETS Debtors 131 173 38 Cash at bank 14 104 162 ------------ ------------ ------------ 145 277 200 CREDITORS: amounts falling due within one year (27) (29) (49) ------------ ------------ ------------ NET CURRENT ASSETS 118 248 151 ------------ ------------ ------------ TOTAL ASSETS LESS CURRENT LIABILITIES 118 265 151 ------------ ------------ ------------ NET ASSETS 118 265 151 ------------ ------------ ------------ Represented by: CAPITAL AND RESERVES Called up share capital 699 699 699 Reserves (581) (434) (548) ------------ ------------ ------------ SHAREHOLDERS' FUNDS 118 265 151 ------------ ------------ ------------ NETCENTRIC SYSTEMS PLC CASH FLOW STATEMENT FOR THE PERIOD ENDED 31 MARCH 2005 6 months ended 31 March 6 months ended 31 March Year ended 2005 2004 30 September 2004 Unaudited Unaudited Audited Â£'000 Â£'000 Â£'000 NET CASH (OUTFLOW)/INFLOW FROM OPERATING ACTIVITIES (150) (209) (152) RETURNS ON INVESTMENTS AND SERVICING OF FINANCE Interest received 2 3 4 ---------- ---------- ---------- (DECREASE)/INCREASE IN CASH IN THE YEAR (148) (206) (148) ---------- ---------- ---------- NETCENTRIC SYSTEMS PLC CASH FLOW STATEMENT FOR THE PERIOD ENDED 31 MARCH 2005 (a) Reconciliation of operating loss to net cash outflow from operating activities 6 months ended 31 March 6 months ended 31 March Year ended 2005 2004 30 September 2004 Unaudited Unaudited Audited Â£'000 Â£'000 Â£'000 Operating loss (36) (54) (152) (Increase)/decrease in debtors (92) (147) (12) Decrease/(increase) in creditors (22) (8) 12 ---------- ---------- ----------- Net cash (outflow)/inflow from operating activities (150) (209) (152) ---------- ---------- ---------- (b) Reconciliation of net cash flow to movement in net funds 6 months ended 31 March 6 months ended 31 March Year ended 2005 2004 30 September 2004 Unaudited Unaudited Audited Â£'000 Â£'000 Â£'000 (Decrease)/increase in cash in the (148) (206) (148) year Opening net funds at 1 October 162 310 310 2004 ----------- ----------- ---------- Closing net funds at 31 March 2005 14 104 162 ----------- ----------- ---------- (c) Analysis of net funds At 31 March At 31 March At 30 September 2005 2004 2004 Unaudited Unaudited Audited Â£'000 Â£'000 Â£'000 Cash at bank 14 104 162 ----------- ----------- ----------- NETCENTRIC SYSTEMS PLC NOTES TO THE INTERIM ACCOUNTS FINANCIAL INFORMATION The interim financial information has been prepared on the basis of the accounting policies as set out in the Statutory Financial Statements for the year ended 30 September 2004. The financial information set out herein does not constitute statutory accounts. AUDIT REVIEW These interim results have not been subject to a full review by our company auditors which is in accordance with our normal interim procedures. RESERVES Profit Share Revaluation and loss premium reserve account Total Year ended 30 September 2004 Â£'000 Â£'000 Â£'000 Â£'000 At 1 October 2003 50 12 (420) (358) Loss for the period - - (178) (178) Revaluation of investment - (12) - 12 -------- -------- ------ ---------- At 30 September 2004 50 - (598) (548) -------- -------- ------ ---------- Profit Share Revaluation and loss premium reserve account Total Period ended 31 March 2004 Â£'000 Â£'000 Â£'000 Â£'000 At 1 October 2003 50 12 (420) (358) Loss for the period - - (64) (64) Reduction in valuation - (12) - (12) -------- -------- ------ ---------- At 31 March 2004 50 - (484) (434) -------- -------- ------ ---------- Profit Share Revaluation and loss premium reserve account Total Period ended 31 March 2005 Â£'000 Â£'000 Â£'000 Â£'000 At 1 October 2004 50 - (597) (547) Loss for the period - - (34) (34) -------- -------- ------ ---------- At 31 March 2005 50 - (631) (581) -------- -------- ------ ---------- NETCENTRIC SYSTEMS PLC NOTES TO THE INTERIM ACCOUNTS LOSS PER SHARE The loss per share calculations have been arrived at by reference to the following earnings and weighted average number of shares in issue during the period. 6 months ended 31 March 2005 6 months ended 31 March 2004 Year ended Unaudited Unaudited 30 September 2004 Audited Â£'000 Â£'000 Â£'000 Basic loss after taxation 34 64 178 ------------ ------------ -------------- No. Weighted number of shares in 139,734,602 139,734,602 139,734,602 issue ------------ ------------ -------------- END This information is provided by RNS The company news service from the London Stock Exchange

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