Interim Results

RNS Number:4225L
Maisha PLC
22 May 2003


                                   MAISHA PLC

             INTERIM REPORT FOR THE SIX MONTHS TO 28 FEBRUARY 2003

CHAIRMAN'S STATEMENT

The Group's results for the half year ended 28 February 2003 show a loss before
and after taxation of #43,000. This compares with a loss of #58,000 for the
comparable period last year, and includes #10,000 of expenses relating to a
proposed acquisition.

Mumtaz H Khan

Chairman

22 May 2003


SUMMARISED GROUP PROFIT AND LOSS ACCOUNT              Half year ended   Half year ended
                                                     28 February 2003  28 February 2002      Year ended 31
                                                                                               August 2002
                                                          (Unaudited)       (Unaudited)          (Audited)
                                                                #'000             #'000              #'000

Turnover                                                            -                 -                  -
                                                                
Operating loss                                                  (57)              (76)              (206)

Net interest                                                    14                18                36

Loss on ordinary activities before and after taxation           (43)              (58)              (170)
                                                                
Loss per share (Note 2)                                         (0.18)p           (0.24)p           (0.71)p
                                                                
STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES
                                                               #'000             #'000             #'000

Loss after taxation                                             (43)              (58)              (170)
                                                                
Loss on foreign currency translation                            -                 -                 (2)

Total recognised loss                                           (43)              (58)              (172)


GROUP BALANCE SHEET                                            As at             As at              As at
                                                         28 February       28 February          31 August
                                                                2003              2002     2002 (Audited)
                                                          (Unaudited)       (Unaudited)              #'000
                                                                #'000             #'000

Fixed assets                                                        -                 -                  -

Current assets

Debtors                                                         3                 6                 6

Cash at bank and in hand                                        852               1,015             947

                                                                855               1,021             953

Creditors: amounts falling due within one year                  (33)              (42)              (88)

Net current assets                                              822               979               865

Capital and reserves

Called up share capital                                         238               238               238

Share premium account                                           345               345               345

Profit and loss account                                         239               508               282

                                                                822               1,091             865


GROUP CASH FLOW STATEMENT                               Half year ended   Half year ended
                                                       28 February 2003  28 February 2002      Year ended 31
                                                                                                 August 2002
                                                            (Unaudited)       (Unaudited)          (Audited)
                                                                  #'000             #'000              #'000

Net cash (outflow)/inflow from operating activities             (109)             (107)             (193)

Interest received                                               14                18                36

(Decrease)/increase in cash                                     (95)              (89)              (157)

NOTES TO THE INTERIM REPORT


1 - Basis of preparation


The Interim Report has been prepared under the historical cost convention, in
accordance with applicable accounting standards.


The Interim Report does not comprise statutory accounts for the purpose of
section 240 of the Companies Act 1985.


The information for the six months ended 28 February 2003 and the six months
ended 28 February 2002 is unaudited and has not been reviewed by the Company's
auditors. The information for the six months ended 28 February 2002 forms part
of the results contained in the statutory accounts for the year ended 31 August
2002. The information for the year ended 31 August 2002 has been extracted from
the statutory accounts on which an unqualified audit report was issued and which
have been delivered to the Registrar of Companies.


2 - Loss per share


Loss per share is based on a loss after taxation of #43,000 and on 23,843,247
shares, being the number of ordinary shares in issue during the period (February
2002 #58,000 loss and August 2002 #170,000 loss on 23,843,247 shares).


3 - Dividends

The Directors do not propose the payment of an interim dividend.


4 - Publication

Copies of this statement will be circulated to all shareholders and will also be
available from the registered office of the Company, Centurion House, 37 Jewry
Street, London EC3N 2ER.


                      This information is provided by RNS
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