Interim Results

Room Service Group PLC 22 September 2003 EMBARGOED - NOT TO BE RELEASED UNTIL 7.01 A.M. ON 22nd September, 2003 Room Service Group Plc ('Company' or 'the Company') Interim Results for the six months ended 30 June 2003 Chairman's Statement I am pleased to present the results of the company for the six months ended 30th June, 2003. Following the members voluntary liquidation of the Company's operating businesses, it has effectively not traded in the first half of the financial year. No turnover was generated and the loss on ordinary activities before and after taxation of £35,000 equates to the administrative expenses for the period under review. The preliminary results for the year ended 31st December, 2002 have also been released today and contain further details of the proposed restructuring of the Company. Gerald Gold Chairman 22nd September, 2003 Consolidated Profit and Loss Account for the six months ended 30 June 2003 6 Months ended 6 months ended Year ended 31 30 June 2003 30 June 2002 December 2002 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Turnover - 1,928 17 Cost of sales - 1,312 - Gross Profit - 616 17 Administrative expenses (35) (1,105) (1,108) Amounts written off investments - - (1,748) Operating loss (35) (489) (2,839) Interest payable and similar charges - (24) - Interest receivable and similar income - 3 2 Loss on ordinary activities before taxation (35) (510) (2,837) Tax on loss on ordinary activities - - - Loss on ordinary activities after taxation (35) (510) (2,837) Minority interest - - (22) Retained loss for the period (35) (510) (2,859) Loss per ordinary share (0.03p) (0.41p) (2.33p) Fully diluted loss per ordinary share (0.03p) (0.40p) (2.33p) The profit and loss account has been prepared on the basis that all operations are continuing operations. All recognised gains or losses are dealt with through the profit and loss account or statement of recognised gains and losses. Consolidated Balance Sheet as at 30 June 2003 30 June 2003 30 June 2002 31 December 2002 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Fixed assets Intangible fixed assets - goodwill - 2,510 - Tangible fixed assets - 254 - - 2,764 - Current assets Stock - 21 - Investments 133 241 133 Debtors 68 459 68 Cash at bank and in hand 1 - 1 202 721 202 Creditors: amounts falling due within one year (378) (1,252) (343) Net current liabilities (176) (531) (141) Total assets less current liabilities (176) 2,233 (141) Provisions for liabilities and charges - 12 - Net (liabilities)/assets (176) 2,245 (141) Capital and reserves Called up Share Capital 5,004 5,004 5,004 Share Premium 10,241 10,226 10,241 Profit and loss account (15,421) (12,985) (15,386) Equity shareholders funds (176) 2,245 (141) Consolidated Cash Flow Statement for the year ended 30 June 2003 6 months ended 6 months ended 30 June 2003 30 June 2002 (unaudited) (unaudited) £'000 £'000 £'000 £'000 Net cash outflow from operating activities - (818) Returns on investments and servicing of finance Interest paid (24) Interest received - 3 (21) Acquisitions Acquisitions of subsidiary (207) Net overdraft acquired with subsidiary (117) Acquisition of fixed assets (26) Acquisition of fixed asset investment - Loans and advances to associates - Loans and advances to fixed asset investments - - (350) Financing Issue of equity shares (net of costs) - 265 Decrease in cash in the period - (924) Notes to the Interim Results 1. The interim results are unaudited and do not constitute statutory accounts within the meaning of section 240 of the Companies Act 1985. The figures for the year ended 31st December, 2002 have been extracted from the statutory accounts filed with the Registrar of Companies on which the auditors gave an unqualified report. 2. The interim results have been prepared using the accounting policies set out in the group statutory accounts for the year ended 31st December, 2002. 3. The comparative figures for the unaudited interim results for the period ended 30th June, 2002 are stated as announced on 12th March, 2003 and include the group's former trading subsidiary Room Service (UK) Limited. The audited accounts for the year ended 31st December, 2002 exclude any results for Room Service (UK) Limited, following the voluntary liquidation of the company. 4. Copies of the Interim Results will be sent to all shareholders and will also be available at the registered office of the Company, 159 Brent Street, London, NW4 4DH.. 5. The directors do not proposed to pay a dividend for the period. Further Enquiries: Room Service Group Plc Gerald Gold Tel: 07930 339232 This information is provided by RNS The company news service from the London Stock Exchange

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