Coms plc (LSE:COMS.L), Regulatory News (RNS)

Interim accounts for the six months ended 31 July 2007

Highlights:

   •  Developed three focussed and recurring revenue streams
   •  Delivered a gross margin in excess of 40%
   •  Generated a gross profit of £202,000 on revenues of £501,000
   •  Delivering on the Company's acquisition strategy

Commenting on the interim results, Jason Drummond, Chairman said: 'As
consumer migration to internet telephony accelerates, Coms is well positioned
for exceptional growth based on an attractive product offering in the three
major revenue generating channels of consumer, business and wholesale
distribution. We are actively pursuing both our organic and acquisition
strategies.'


Contact:

Chairman's Statement:

I am pleased to report that as a result of organic growth and acquisition
strategy, Coms has made significant progress in developing a long-term recurring
revenue stream from providing internet telephony services.

Our business has progressed significantly since admission to AIM last year, and
today's interim results begin to demonstrate the momentum we have gained from
the successful execution of our strategies. Coms has three distribution channels
- consumer, business and wholesale - each generating a separate revenue
stream. From a standing start the combined streams have yielded revenue of £501
and gross profits £202k for this interim period.

Consumer Services:
Our consumer service, coms.com, allows individuals to connect their home phone
or a WiFi enabled mobile phone to our innovative internet telephony platform. We
are driving sales directly through the coms.com website and through retail
outlets including the John Lewis Partnership.

Business Services:
Coms sells directly to business customers under the coms.net brand to
differentiate the extra value-added business services from our consumer
offering. The service is based upon the service developed by ExchangeXT Limited,
a business that we acquired in December 2006. Coms is making steady progress
signing up small and medium sized businesses and is looking to expand into the
mainstream business market.

Distribution Services:
The acquisition of VCOMM Limited in March this year contributed four months of
revenue to the interim revenues and will have a greater impact on the revenues
for the full year. More importantly, VCOMM has 450 active resellers that Coms
intend to motivate to resell its expanded package of internet telephony hardware
and services.

I am very confident about the immediate and long-term outlook for Coms. For the
remainder of this financial year, we expect VCOMM to contribute a full 6 months
of revenue to the year-end revenue, and we also expect to see further revenue
growth from both coms.com and coms.net.

I am also encouraged by continued analyst predictions that forecast that both
consumers and businesses will continue to migrate from traditional telephony
(PSTN) services to internet telephony (VoIP) services, which will provide an
enduring and lucrative market for Coms. This, coupled with the fact that we have
achieved a gross margin in excess of 40% during this period, makes me continue
to believe that Coms is well positioned for exceptional growth.

Accordingly, we intend to continue our current strategies of pursuing organic
growth and seeking out other complementary acquisitions.

Jason Drummond
Chairman.

                                    COMS PLC

                                Income Statement
                     For the Six months ended 31 July 2007

The Company's turnover and operating loss arose from continuing operations.
There were no recognised gains or losses other than those recognised in the
income statement above.

                                    COMS PLC

                        Balance Sheet as at 31 July 2007

                                                               
                                    

                                    COMS PLC
                              Cash Flow Statement

                     For the Six months ended 31 July 2007

                  Consolidated statement of changes in equity

                                    COMS PLC

                          Notes to the Interim Report

1. Significant Accounting Policies

These accounts have been prepared in accordance with International
Financial Reporting Standards and on the historical cost basis, using generally
recognised accounting principles consistent with those used in the annual report
and accounts for the year ended 31 January 2007.

This interim report for the six months to 31 July 2007 was approved by the Board
on 25 September 2007.


2. Loss per Share

The loss per ordinary share is based on the company's loss for the
period of £283,024 (31 July 2006 - £63,716; 31 January 2007 - £664,331) and a
basic weighted average number of shares of 908,450,023 (31 July 2006 -
121,750,000; 31 January 2007 - 394,284,174) and a diluted weighted average
number of shares of 937,950,023 (31 July 2006 - 121,750,000; 31 January 2007
- 409,559,517).

The share options are anti-dilutive as they decrease the loss per share.

3. Reconciliation of operating loss to net cash outflow from operating activities.

4. Called up Share Capital

The issued share capital as at 31 July 2007 was 921,378,200 Ordinary
Shares of 0.1 p each (31 July 2006 - 121,750,000; 31 January 2007 -
793,878,200).


5. The unaudited results for period ended 31 July 2007 do not constitute
statutory accounts within the meaning of Section 240 of the Companies Act 1985.
The comparative figures for the year ended 31 January 2007 are extracted from
the statutory financial statements which have been filed with the Registrar of
Companies and which contain an unqualified audit report and did not contain
statements under Section 237(2) or (3) of the Companies Act 1985.


6. Copies of this interim statement are available from the Company at its
registered office at 5-7  Cranwood Street, London, EC1V 9EE. The interim
statement will also be available on the company website www.coms.com


7.Events subsequent to 31 July 2007

On 17 September 2007 the Company issued 1,000,000 ordinary shares for a
consideration of 0.1p each as the result of an exercise of warrants.