Cherry Topped Success for Mediasurface

Cherry Topped Success for Mediasurface

Mediasurface, the leading AIM-listed web content management company, has today released an extremely positive interim financial report for the six months up to 31 March 2006, covering all three of the company’s operating geographies (UK, USA, Benelux).

Report highlights:

• Group revenue for the first six months £4.4million (2005: £3.66million)
• Pre-tax profits of £0.35million (2005: £0.14million)
• Cash at bank £0.72million (2005: £0.3million)
• Net assets £1.64million (2005: £1.28million)
• 24% increase in licence sales revenue
• 23% increase in professional services revenue
• 14% increase in support revenue (total annual value of support revenue is £2.3million)

Mediasurface has signed a number of significant new deals including the Office of the Deputy Prime Minister, Siemens, T-Mobile, Immigration and Nationality Directorate, and New Star Asset Management, as well as further business with Citigroup, Thomson Corporation, and the Environment Agency. There are also several further major sales opportunities existing for the second half of the year.

Lawrence Flynn, CEO of Mediasurface commented: “It is very gratifying to be able to report interim results which continue to vindicate the strategy and direction of the company in terms of products, markets and efforts. The company has successfully released version 5.3.5 of the Morello product and continues to have a very exciting roadmap for future releases.”
Reviewing the accounts, David Deacon, CFO, remarked that he was “delighted with the financial health of the company; all the key indicators, revenue, profit and cash have improved.”

These results demonstrate the growing recognition of Morello as a market-leading product. Demand has directly impacted growth as Mediasurface is now recruiting for new talented professionals to fill a variety of Professional Services and Pre-Sales positions in UK, US and in Benelux. This further strengthens Mediasurface’s position in its 10 year anniversary.

A full copy of the unaudited interim accounts will be sent to all shareholders within the next three weeks and is available for download from the Mediasurface website at www.mediasurface.com.