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Cellcast News

Interim Results for the six months ended 30 June 2009

28 September 2009

HIGHLIGHTS

• revenue for the six months ended 30 June 2009 up 29% on 2008 at £8.6 million
• the Group was cash generative with EBITDA of £54,000 compared to a negative £550,000 in the same period in 2008 (leaving aside the one-off proceeds of sale of the Sky channels)
• In the period the Group repaid £180,000 of the Headstart loan facility, which at 30 June 2009 was down to £67,000 compared to £438,000 a year earlier
• Cellcast Asia Holdings became profitable during the period, with the result that the Group's share of losses in CAH reduced from £179,000 in the six months to 30 June 2008 to £15,000 in the current period
• focus on expanded distribution of the Group's television channels remains a core element of management's strategy to return the Group to profitability
• new channels to be added to the UK Freesat platform
• new applications to be launched for iPhone, Android and other mobile platforms

Julian Paul, Chairman of Cellcast plc, commented:

"After a solid performance in the first six months of 2009, the Group enters the second half of the year much better positioned to negotiate the uncertain economy, and management remains focussed on returning the Group to profitability through expanded distribution and technological innovation."

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