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Interactive Publish (INTP)

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Wednesday 19 March, 2008

Interactive Publish

Interim Results



                                      INTERACTIVE PUBLISHING PLC
                                   ("Interactive" or the "Company")

                         INTERIM RESULTS FOR THE PERIOD ENDED 31 DECEMBER 2007

Interactive Publishing plc today announces its interim results for the period from incorporation on  3
October 2007 to 31 December 2007, during which period the Company did not trade.

Business highlights

    -   Interim results for Trojan Publishing Limited ('Trojan Publishing'), for the six months to  31
        December 2007.

Post balance Sheet events

    -       Admission to PLUS Markets on 20 February 2008.
    -       Acquisition of the entire issued share capital of Trojan Publishing Limited on admission.

CHAIRMAN'S STATEMENT

I am pleased to make this statement to you as Chairman of the Company.

Review of activities
The Company was incorporated on 3 October 2007 and admitted to PLUS Markets on 20 February 2008 with
the objective of making investments in the publishing and marketing services sectors.

The Company did not trade during the period.

Post Balance Sheet Events
On  admission,  the  Company  acquired the entire issued share capital of  Trojan  Publishing,  for  a
consideration of £2.5 million, satisfied by the issue of 83,333,333 new ordinary shares at a price  of
3  pence  per  ordinary share. In addition, the consideration included deferred consideration  shares,
with  a  gross value of up to £1,000,000 (based on a price of 3 pence per share), to be calculated  by
reference  to  the pre-tax and pre-amortisation profits of Trojan Publishing for the  accounting  year
ending  30  June 2008 and based upon the Vendors receiving an aggregate of 71 new ordinary shares  for
every £1 of such profit, up to a maximum of 33,333,333 new ordinary shares.

Trojan Publishing is a London-based magazine publishing company.  Trojan Publishing's key focus is  on
building its portfolio of titles in the consumer lifestyle sector and the company has a clear strategy
of  growth  by way of acquisition of magazine titles, in particular those that will benefit  from  re-
branding  and  re-generation  and which have not exploited digital media  to  provide  a  platform  to
increase advertising and circulation levels.

Financial Overview
The Company did not trade during the period.  However, the business of Trojan Publishing Limited has
a  trading  history  going back in excess of 18 months. The financial results of  Trojan  Publishing
reflect  the period from incorporation of the business on 8 June 2006  and its growth in the  period
to 30 June 2007.

Outlook
The Directors are satisfied with the performance of Trojan Publishing to date and look forward to  a
progressive increase in revenues.

Peter Jay
Chairman

FINANCIAL EXTRACTS
The  following  information  has  been  extracted from the unaudited  management  accounts  of  Trojan
Publishing Limited:

TROJAN PUBLISHING LIMITED
UNAUDITED PROFIT AND LOSS ACCOUNT
FOR THE 6 MONTHS TO 31 DECEMBER 2007

                                                                       6 months            6 months
                                                                          to                 to
                                                                       31.12.07            31.12.06
                                                                       Unaudited          Unaudited
                                                                           £                  £

Turnover                                                                2,791,954          1,384,218

Administrative expenses                                               (1,648,663)          (988,387)
                                                                        _________          _________

Gross Profit                                                            1,143,291            395,831

Overheads                                                             (1,055,051)          (533,612)
                                                                        _________          _________

PROFIT / (LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION                     88,240          (137,781)

Taxation                                                                        -             39,166
                                                                        _________          _________

RETAINED PROFIT / (LOSS) FOR THE PERIOD                                    88,240           (98,615)
                                                                        _________          _________

TROJAN PUBLISHING LIMITED

Notes to the financial information

1.    While  the  financial information included in this interim announcement has been computed  in
      accordance with International Financial Reporting Standards (IFRS), this announcement does not itself
      contain sufficient information to comply with IFRS.  The figures have not been audited or reviewed by
      the Company's auditors.  The financial statement does not constitute statutory accounts within the
      meaning of Section 240 of the Companies Act 1985 (the "Act").

2.    The half-yearly results announcement was approved by the Board of Directors on 18 March 2008.
      Copies of this report will be available free of charge from the Company's registered office at Ground
      Floor, 211 Old Street, London, EC1V 9NR.

3.    The  financial information to be presented for the period ended 30 June 2008 will be  in  the form 
      of consolidated accounts, prepared under the reverse acquisition method, in accordance with IFRS 3
      and as such the results of the Company and Trojan Publishing will be presented as if they had always
      been a group.

INTERACTIVE PUBLISHING PLC
Registered No. 6388765

                                               - ends -

CONTACT DETAILS:

Interactive Publishing plc:      Melissa Gilmour          Tel: 0797 076 7869
Fisher Corporate Plc:            Gary Miller              Tel: 0207 388 7000

Interactive Publishing Plc

						                                                                                                                                                                                                                   

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