RNS Number:2249R
Mosaique PLC
23 October 2003


23 October 2003

                                MOSAIQUE PLC

               RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2003



CHAIRMAN'S STATEMENT


I am pleased to report that, following your approval at the extraordinary
general meeting held on 30 June, the new business has made a very promising
start and that your Group has moved into profit.  The profit on ordinary
activities before taxation for the six months ended 30 September 2003 was
#204,000 (six months to 30 November 2002 loss #42,000).
Earnings per share 2.2 pence, fully diluted 1.99 (2002 loss per share 0.6 pence,
fully diluted loss per share 0.6 pence). This is a very good result in a
relatively short time and all aspects of the new business are making a positive
contribution to cash flow.


Your board is delighted that current trading continues to exceed expectations.
Momentum on the financial services side is building up with increasing volumes
of product sales and an increasing client base.  There is a steady flow of
assignments on the advisory side. Your company is being invited to look at an
increasing number of transactions and we are now in a position to look seriously
at a number of potential acquisitions.


Your board is confident that further progress in building your Group will be
made in the second half of the year.


In order to build on this success and to strengthen the management team, I am
very pleased to announce the appointment to the board of Stephen Pearce.
Stephen joins Mosaique PLC from Shore Capital Group PLC where he had served as
Operations Manager for the previous seven years. His role there included the
responsibility for Shore Capital's outsourcing of settlements to Pershing
Securities, all in-house stockbroking systems and administration, as well as
various aspects of compliance.  Prior to that he gained over twenty years
experience in investment and private banking and held management roles with
Union Bancaire Privee, Boston Safe Deposit & Trust Co & Citicorp Investment
Bank.  Stephen will serve as finance director and will oversee the company's
compliance function.  Stephen shares our commitment to your Group's future
success and will be a valuable member of the team moving forward.



A very good start and your board is confident that your Group's development will
be maintained for the rest of the year.





Nicholas Richardson

Chairman

23 October 2003




MOSAIQUE PLC

CONSOLIDATED BALANCE SHEET


                                                                      As at               As at            As at
                                                               30 September         30 November         31 March
                                                                       2003               2002              2003
                                                                  unaudited          unaudited           audited
                                                                      #'000              #'000             #'000

Fixed assets
Investments                                                              22                  15               31
Tangible assets                                                          25                   -                -
                                                                         47                  15               31

Current assets
Investments                                                             444                   -                -
Debtors                                                                  68                  12               22
Cash at bank                                                            430                 520              465
                                                                        942                 532              487

Creditors: amounts falling due within one year                        (131)                (21)             (44)

Net current assets                                                      811                 511              443

Total assets less current liabilities                                   858                 526              474

Creditors: amounts falling due after more than one year                   -                   -                -

Provisions for liabilities and charges
Deferred taxation                                                         -                   -                -

Net assets                                                              858                 526              474

Capital reserves
Called up share capital                                                 386                 336              336
Share premium account                                                   176                   -                -
Profit and loss account                                                 296                 190              138

Shareholders' funds                                                     858                 526              474











MOSAIQUE PLC

CONSOLIDATED PROFIT AND LOSS ACCOUNT




                                                           6 months to           6 months to          10 months to
                                                          30 September           30 November              31 March
                                                                  2003                  2002                  2003
                                                             unaudited             unaudited               audited
                                                                 #'000                 #'000                 #'000

Turnover
Operating costs                                                    359                     -                     -
Tangible assets                                                  (179)                  (48)                 (121)

Operating Profit/(Loss)                                            180                  (48)                 (121)
Net Interest                                                         4                     6                    12
Profit/(loss) on revaluation of own shares                          20                     -                    16


Profit on ordinary activities before taxation                      204                  (42)                  (93)
Tax on profit on ordinary activities                              (46)                     -                     -

Profit/(Loss) for period                                           158                  (42)                  (93)
Dividends                                                            -                     -                     -

Retained Profit/(Loss) for period                                  158                  (42)                  (93)

Basic Profit/(loss) per share (pence)                             2.20                 (0.6)                (1.41)

Diluted Profit/(Loss) per share (pence)                           1.99                 (0.6)                (1.41)




There are no recognised gains or losses for the current period other than as
stated above.


MOSAIQUE PLC

CONSOLIDATED PROFIT AND LOSS ACCOUNT

Notes on the Financial Statements

For the period ended 30 September 2003



1.             Financial information and comparatives



The interim results for the six months ended 30 September 2003 are unaudited and
do not constitute accounts within the meaning of section 240 of the Companies
Act 1985.  The interim results have been drawn up using accounting policies and
presentation consistent with those applied in the audited accounts for the
period ended 31 March 2003.



The company changed it year end from 31 May to 31 March and so the comparatives
are not the same.



The information in respect of the period ended 31 March 2003 has been extracted
from the audited statutory accounts which have been delivered to the Registrar
of Companies.  The report of the auditors on those statutory accounts was
unqualified.



2.             Tax on profit on ordinary activities



The tax charge is based on the result for the six month period and represents:




                                30 September       30 November          31 March
                                        2003              2002              2003
                                       #'000             #'000             #'000
          Current year                    46                 -                 -



3.        Dividends


No dividend is proposed.



4.        Profit/(Loss) per share



The calculation of profit per share is based on the profit attributable to
ordinary shareholders divided by the weighted average number of shares in issue
during the period.




                                30 September       30 November          31 March
                                        2003              2002              2003
                                       #'000             #'000             #'000



Weighted average number of shares  7,178,400         6,608,400         6,608,400



Diluted earnings per share have been calculated using the weighted average
number of ordinary shares in issue, diluted for the effect of share options.
The diluted weighted average number of ordinary shares is 7,943,355 (2002:
6,608,400).


5.            Copies of this report are available to the public free of charge
for one month at the Company's registered office, 6 Imperial Court, Empire Way,
Wembley, Middlesex HA9 0RD and at the offices of City Financial Associates
Limited, Pountney Hill House, 6 Laurence Pountney Hill, London EC4R 0BL.





                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

IR FGMZGGFGGFZM