WORLD TELEVISION - Delivering the Message

World Televsion

Re : Brokers Note

I DON'T BELEIVE IT.!

ONLY..£8.9m sales Estimated to be achieved for the whole year ending 2005

I reckon that somewhere around the £10.m + mark would be more likely

Already announced In the Interim results (26.09.05) for the first six months of 2005 the (Sales Achieved were £5.1m)...

So (Brewin Dolphin Securities) are Estimating ONLY £3.8m Sales for the 2nd Half of 2005.

BDS (Estimate) for the full year ending 2005................£8.9m
Minus the 1st 6 Months of (ACTUAL) sales of 2005............£5.1m
Leaving the balance to be achieved in the 2nd Half of 2005..£3.8m

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Brewin Dolphin Securities : Valuation dated 15th December 2005

Actual sales achived for year ending : 2004 = £10.0m
Estimated sales for year ending......: 2005 = £.8.9m
Estimated sales for Year ending......: 2006 = £.9.3m

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In addition to the 2004 sales turnover of £10.0m...For 2005 we have to add-on :

22.5% of Kamera turnover for (July to December)6 Months..that is 22.5% of turnover NOT profits..so how much turnover will Kamera achieve between July to December 2005.?..if we were to say just £1m then that is an EXTRA £225,000 for WTV..it could be more.

British satellite News contract increased from 1.1m to 1.5m per year..not much of an increase..however = £400,000 divided by 12 months =£33,333 per month..the NEW contract started from Oct 1st 2005 so we have 3 months @ £33,333 per month giving us £99,999 extra sales turnover for year ending 2005.

Foroso managed to achieve around August/time 2005 a new yearly contract with :
(MSD) Merck Pharmacy in Germany for around £68,000 + plus I believe they are making good progress generally with their conferencing products..etc.

(19.09.05)Extra income to come from : WTV forms an exclusive Strategic alliance with "Staging Connections" one of Australasia’s leading event staging companies.

(17.10.05) Extra business to come from raising the company's profile..
WTV wins : "Production Company of the Year award - 2004 & 2005 "

(16.11.05) WTV would have made a considerable amount of cash in producing
the : "2005 FX International Interior Design Awards". The event took place in the Grosvesnor House Hotel with something like 1400 people attending..I understand that WTV were responsible for organising absolutely everything the actual design of the event..organising the entertainment..sound and lighting..graphics..the host/compere : Densie Van outen..managing the guests and dining tables etc..everything..

World TV apparently had over (40) staff on the job.



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EXTRA INCOME to come from NEW CLIENTS : In the trading update RNS (02.08.05)

New clients won across the Group include: BAA PLC, Roche, Royal Ahold, Alcan,
BBC, Visit Britain, Shire Health, Iberdrola SA, Cantillon Asset Management,
Svensk Kassaservice, Tulchan Communications, TVG Group, Imagination, AFA,
Skandia, Hill & Knowlton, Cintra, Yamanouchi, Marie Stopes International,
Waggener Edstrom, Nordea, Scania, SAP, Celemi, ORC Software, ISS, Sierra
Corporate (Sonae Group), Amadeus Global Travel Distribution SA, Air New Zealand,
Fisher and Paykel Healthcare, IBM, Nissan and Microsoft Australia.



I am sure that we could all find many other examples of extra business that WTV has managed to get their hands on during 2005.

That Brewin Dolphin Estimate of £3.8m for the 2nd half of 2005 looks Ridiculous to me

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3Parsnips