BONH.L Regulatory News (BONH)

Vitesse Media Plc

Unaudited interim results for the six months ended 31st July 2013

Highlights:

o Like-for-like sales increased by 3.8% for the period to £1.002 million (H1 2012/13 £0.966k)

o Significant reduction in pre-tax loss for the period, down by 45% to £137k (H1 2012/13 loss £250k).

o Loss before depreciation, amortisation and share options charge halved to £97k (H1 2012/13 loss £196k)

o Revenue from events up 32% and like-for-like revenue for the SME business increased by 17%

For further information:

About Vitesse Media plc

Vitesse Media plc is a leading b2b media business, specialising in technology, SME business and high-net worth investment through events, digital activities, data and research. Our flagship titles include SmallBusiness.co.uk, Growth Company Investor, Information Age, GrowthBusiness.co.uk, and What Investment . Our intention is to grow our business through the development of innovative products and the acquisition of products and businesses in our fragmented b2b space. Vitesse Media plc is quoted on AIM.

Chairman's statement

Comment on the results for the six months to 31 July 2013

I am delighted to report an improving set of results for the interim period. The Company enjoyed an increase in turnover to just over £1m, while significantly reducing the loss before depreciation, amortisation and share options expense to £97k from £196k for the same period last year.

The events team delivered an impressive performance with overall sales up 32%. The principal event for this period was the M & A Awards, which showed strong growth. We also launched a brand new event in June, Techinvest, which has already gained a strong foothold in the technology venture space and will become an annual feature.

Like-for-like sales for the SME team also improved significantly, up 17% for the period, and the team worked with blue chips such as Microsoft, Fedex, Sage and Lloyds on specialist projects to deliver a pleasing result. Traffic for the web sites grew, with social referrals for both SME sites doubling.

The technology web site Information-Age.com has shown a marked and consistent increase in online and mobile traffic since its re-launch earlier this year.

Our investment products, What Investment and Growth Company Investor, increased subscriber numbers during the period and the re-launched What Investment web site delivered an outstanding improvement in visits, page views and user retention. The team worked hard to increase revenues from brand extensions, such as research and events.

Following a renegotiation of our bank financing, which resulted in a reduction of the credit facilities available to the Company, the Directors have agreed, if necessary, to provide a small loan to cover the reduction in the facility.

Outlook for the second half to 31 January and beyond

All teams are either working on the launch of new products or have secured new contracts in the period under review.

The events team has secured two new contracts to deliver in the first half of the 2014 financial year. The technology team is scheduled to launch the Information Age Knowledge Bank in the autumn, a new data service for companies. The investment team will launch a subscription investment newsletter in October/November, with a well-known editor on board.

Finally, the SME team has developed a new subscription product under the SmallBusiness.co.uk branding which will be launched at the end of September. This will be the first fully responsive online community in Vitesse Media's portfolio, and forms part of our key development strategy.

Recognising that the economic outlook for the second half remains challenging, the management continues to monitor costs, cash and investment very carefully. However, with the raft of new products planned, the Board continues to look forward to a more successful year.

Notes to the Interim Results

1. Basis of preparation

These unaudited condensed consolidated interim financial statements are for the six months ended 31 July 2013. They have been prepared in accordance with recognition and measurement principles of International Financial Reporting Standards (IFRS) as adopted by the European Union. This report should be read in conjunction with the annual financial statements for the year ended 31 January 2013, which have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and International Financial Reporting Interpretations Committee ('IFRIC') Interpretations and the Companies Act 2006, as applicable to companies reporting under IFRS.

The financial information in this interim announcement does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. The unaudited interim financial statements were approved by the Board on 24th September 2013.

The comparative financial information for the year ended 31 January 2013 does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. The statutory accounts of Vitesse Media plc for the year ended 31 January 2013 have been reported on by the Company's auditor, Baker Tilly UK Audit LLP, and have been delivered to the Registrar of Companies.

The accounting policies adopted in the preparation of the interim condensed consolidated financial statements are consistent with those followed in the preparation of the Group's annual financial statements for the year ended 31 January 2013.

These financial statements have been prepared under the historical cost convention.

The financial information for the six months ended 31 July 2013 is unaudited.

Nature of operations and general information

Vitesse Media plc and subsidiaries' ('the Group') principal activities include the provision of online, print publishing and events, specialising in growing businesses. The Group provides a network for CEOs and other directors, their investors, advisers and suppliers.

Vitesse Media plc is the Group's ultimate parent company. It is incorporated and domiciled in Great Britain. The address of Vitesse Media plc's registered office is Floor 6, St. Andrew Street, London, EC1Y 8ST. Vitesse Media plc's shares are listed on the AIM Market of the London Stock Exchange.

Vitesse Media plc's consolidated interim financial statements are presented in Pounds Sterling (£), which is also the functional currency of the parent company.

2. Segmental information

Since the end of the financial year, 31 January 2013, we report our income segments as Events, SME, Investment and Technology, dropping the segmental information on business and investment as no longer being relevant to the management of the business.

3. Earnings/(loss) per share

The calculation of loss per share is based on the following losses and numbers of shares. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. The Company has one category of dilutive potential ordinary shares: share options.

4. Dividends

No dividend is proposed for the six months ended 31 July 2013.

5. Copies of Interim Results

Copies of the Interim Results will be available from www.vitessemedia.co.uk.