Interim Results

Canisp PLC
07 December 2006

7 December 2006



                                   CANISP PLC
                          ('Canisp' or 'the Company')



                                Interim Results

                  for the six months ended 30th September 2006




Chairman's Statement



I present the Group's unaudited interim results for the six month period from
1st April 2006 to 30th September 2006.  In the period under review the Group
recorded a loss before taxation of £262,000 (September 2005: £244,000, March
2006: £469,000) and a loss per share of 0.45p (September 2005: 1.27p, March
2006: 2.42p).  No dividend is proposed.



Our determination to drive down our cost base has resulted in a very lean head
office operation, and we have worked hard to improve administration and service
to customers.



During the period, the Company placed 60,000,000 ordinary shares of 1p each at
par raising £600,000 before expenses and at the same time capitalised £257,500
of the amount due to the Company's largest shareholder, Corvus Capital Inc., by
the issue of 25,750,000 ordinary shares of 1p each at par. I should like to use
this opportunity to thank all our shareholders for their continued support.



Your board believes that it has taken the action necessary to create a sound
platform from which to grow our customer base.  While this is not expected to be
easy, and the sector within which we operate remains a difficult and
increasingly competitive one, we are confident that we are approaching the task
in the right way.  As noted by my predecessor, these actions will not provide a
quick result.  Accordingly the management team continues to review alternative
approaches to recovering shareholder value.









Mike Hirschfield

Chairman



7 December 2006




CANISP PLC



Consolidated Income Statement

For the six months ended 30th September 2006







                                                                  Six month        Six month             Year
                                                               period ended     period ended            ended
                                                               30 September     30 September         31 March
                                                                       2006             2005             2006
                                                                (Unaudited)      (Unaudited)        (Audited)
                                                                       £000             £000             £000

Turnover                                                              1,429            1,904            3,422
Cost of sales                                                       (1,007)          (1,416)          (2,388)
Gross profit                                                            422              488            1,034

Administrative expenses                                               (407)            (538)          (1,023)
Operating profit / (loss)
- excluding goodwill amortisation                                        15             (50)               11
- goodwill amortisation                                               (225)            (123)            (519)
                                                                      (210)            (173)            (508)

Profit on sale of discontinued operations                                 -                -              185
Interest and similar items                                             (52)             (71)            (146)

Loss on ordinary activities before taxation                           (262)            (244)            (469)

Taxation (note 2)                                                         -                -                -
Loss on ordinary activities after taxation                            (262)            (244)            (469)
     and retained loss

Loss per share (note 3)                                             (0.45)p          (1.27)p          (2.42)p









CANISP PLC



Consolidated Balance Sheet

As at 30th September 2006





                                                               30 September     30 September         31 March
                                                                       2006             2005             2006
                                                                (Unaudited)      (Unaudited)        (Audited)
                                                                       £000             £000             £000
Fixed assets
Intangible fixed assets                                               2,523            3,142            2,748

Current assets
Debtors                                                                 378              841              489

Creditors: amounts falling due within one year                      (2,507)          (2,713)          (3,409)

Net current liabilities                                             (2,129)          (1,872)          (2,920)

Total assets less current liabilities                                   394            1,270            (172)

Creditors: amounts falling due after more than one year                   -          (1,450)                -

Net assets/(liabilities)                                                394            (180)            (172)

Capital and reserves
Called up share capital                                               1,054              185              196
Share premium account                                                 4,017            3,825            4,047
Profit and loss account                                             (4,677)          (4,190)          (4,415)
Equity shareholders' funds/(deficit)                                    394            (180)            (172)








CANISP PLC



Consolidated Cash Flow Statement

For the six months ended 30th September 2006





                                                                  Six month        Six month             Year
                                                               period ended     period ended            ended
                                                               30 September     30 September         31 March
                                                                       2006             2005             2006
                                                                (Unaudited)      (Unaudited)        (Audited)
                                                                       £000             £000             £000
Net cash inflow/(outflow) from operating
 Activities (note 6)                                                    142            (251)            (211)

Returns on investments and servicing of finance
Interest received                                                         7                1                1
Interest paid                                                          (59)             (72)            (147)
                                                                       (52)             (71)            (146)

Capital expenditure and financial investment
Sale of tangible fixed assets                                             -               25               25

Net cash inflow/(outflow) outflow before financing                       90            (297)            (332)

Financing
Issue of shares                                                         600               62              295
Share issue costs                                                      (30)                -                -
Repayment of long term loans                                          (509)                             (208)
Capital element of hire purchase contracts                              (5)             (57)             (58)

Increase/(decrease) in cash (note 5)                                    146            (292)            (303)






CANISP PLC



Notes to the Interim Statements

For the six months ended 30th September 2006



1.            Basis of preparation

The interim financial information has been prepared on the basis of the
accounting policies set out in the Report and Accounts for the Group for the
year ended 31 March 2006.  The interim financial information does not constitute
statutory accounts and has been neither audited nor reviewed by the Company's
Auditors.  A copy of the Group's 2006 statutory accounts has been filed with the
Registrar of Companies; the auditors' opinion on those accounts was unqualified.



2.            Taxation

No charge to taxation arises in view of the loss for the period.



3.            Loss per share

The calculation of loss per share is based on the result after taxation and
58,070,772 ordinary shares (period ended 30 September 2005: 19,169,988, year
ended 31 March 2006: 19,392,478) being the weighted average number of shares in
issue during the half year.  The impact of share options on the loss per share
is anti-dilutive.



4.            Dividends

The Directors do not propose an interim dividend.



5.            Reconciliation of net cash flow to movement in net debt


                                                           Six month        Six month             Year
                                                        period ended     period ended            ended
                                                        30 September     30 September         31 March
                                                                2006             2005             2006
                                                         (Unaudited)      (Unaudited)        (Audited)
                                                                £000             £000             £000


Increase/(decrease) in cash                                      146            (292)            (303)
Cashflow from capital element of hire purchase                     5               57               58
contracts
Change in net debt resulting from cash flows                     151            (235)            (245)
Loans repaid                                                     509                -              208
                                                                 660            (235)             (37)
Opening net debt                                             (1,307)          (1,270)          (1,270)
Closing net debt                                               (647)          (1,505)          (1,307)













6.    Reconciliation of operating loss to net cash flows from operating
activities




                                                           Six month        Six month             Year
                                                        period ended     period ended            ended
                                                        30 September     30 September         31 March
                                                                2006             2005             2006
                                                         (Unaudited)      (Unaudited)        (Audited)
                                                                £000             £000             £000


Operating loss                                                 (210)            (173)            (508)
Depreciation                                                       -              (4)                4
Amortisation of goodwill                                         225              123              519
Movement in debtors                                              112              506              859
Movement in creditors                                             15            (703)          (1,075)
Loss on disposal of fixed asset                                    -                -             (10)

Net cash inflow/(outflow) from operating                         142            (251)            (211)
activities





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