(CMI) Ceres Media

CERES MEDIA INTERNATIONAL PLC

("Ceres" or the "Company" or the "Group")



Chairman's Statement



Ceres is a supplier of environmentally friendly and sustainable materials for
the 'Out of Home' and 'In-store' print industry and has made progress in
developing suitable materials and expanding its distribution chains for the
delivery of these into the United Kingdom; USA and European markets during the
past six months.



The Board presents its results for the 6 months to 31 January 2012.



As notified in recent announcements the Company's trading has been below
directors' expectations. Revenues for the 6 months to January 2012 were £
53,000. Performance has been impacted by the poor general economic conditions
and specific structural issues impacting the print material distribution
sector, especially in the United Kingdom. The directors have reacted to these
changes by refocusing the Company's sales strategy by directly targeting
potential end users of the product, simplifying the distribution process and
optimising price competitiveness.



The Company has started to see positive results from this strategy, both in
terms of revenues as well as potential pipeline opportunities. The Company is
in discussions and advanced product testing with a number of premium branded
entities as well as directly with 'Out of Home' media organisations with the
intention to supply product directly to these users. Additionally, the Company
has recently received its first orders for Nature Netting, the Company's new
event screening product designed specifically to support high profile events
taking place in the UK during the summer.



In relation to the sales of Chorus and Gossyp ranges, these remain below the
board's expectations, although there have been recent indications of
improvements in off-take for Chorus in the USA and Europe. After extensive
testing Chorus and Gossyp were approved in March 2012 by Hewlett Packard ("HP")
for use on its digital print machines - this will build significant confidence
with printers who use HP's printers as well as provide manufacturer approved
settings for optimal use on both products. Awareness of the NatureWovenTM
range of products continues to increase and the Company is pleased to have been
nominated as a finalist at the recent Sustainable Business Council of Los
Angeles Awards.



TierraFilmTM window cling product was launched in January 2012, however,
technical issues surrounding the physical fixing process have led to slower
than anticipated off-take - the directors anticipate that a newly formulated
and improved TierraFilmTM window cling product will be available in the UK
market in June 2012. TierraFilmTM 'Backlit 100 product has tested well and it
is anticipated will be listed by two major 'Out of Home' media owners shortly.



Working capital

In the light of continued lower than expected sales, the directors have
significantly reduced overhead and continue to carefully manage working
capital. The directors are also actively managing the current stock levels to
bring them more into line with current trading. The Company will need to have
access to further working capital in the short term to allow it to finance
anticipated sales growth. The board are considering a number of options.



Board change

Norman Fetterman, who has recently celebrated his 70th birthday has today
announced he has resigned as a director of the Company. The Board would like
to thank Mr. Fetterman for leading the business through the AIM flotation
process in 2011 and beyond.



The board is seeking to appoint an additional director to the board; a further
announcement will be made in due course.



The Company has experienced tough trading conditions since admission of its
shares to AIM in September 2011, the directors albeit cautions about the future
are optimistic that the Company's products can be successfully exploited in new
and developing markets. The board would like to thank shareholders for their
continued support of the Company.



Leslie Barber, Chairman said



"Whilst sales during the first six months of the year were very disappointing,
marketing campaigns in both US and Europe are beginning to show results with a
gradual turnover build so far in 2012.



Market interest in our products is encouraging and we are in discussions with
numerous major parties. We are focussed on ensuring that this continued
customer interest is converted into orders as quickly as possible and that all
our products meet the environmental requirements we have set out to satisfy.



TierraFilmBacklit has now been developed and tested with three major 'Out of
Home' media owners and approvals are expected shortly. TierraFilm's image
reproduction qualities above all other benefits are proving to be the
over-riding USP and the key reason for advertiser interest.



The recent success of the new to market Jute based Nature Netting product has
been welcomed, initial orders are encouraging and we are continuing to market
this, as well as our other product lines, aggressively, albeit within the
current constraints of our working capital position."



Contact details:-


Ceres Media International PLC Tel: 020 3178 5622
Alex Dowdeswell / Leslie Barber

Nominated Adviser - Cairn Financial Advisers LLP Tel: 020 7148 7900
Jo Turner / Liam Murray

Broker - First Columbus LLP Tel: 020 3002 2070
Chris Crawford / Kelly Gardiner

Financial PR - De Facto Financial Tel: 020 7556 1063
Mike Wort / Anna Dunphy





CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the six months ended 31 January 2012



six months Period 1 March 2011
Notes to 31 January 2012 to 31 July 2011
(unaudited) (Audited)

£ £

CONTINUING OPERATIONS

Revenue 2 52,832 30,054

Cost of Sales (32,563) (37,688)

Administrative Expenses (472,807) (472,532)



OPERATING LOSS (452,538) (480,166)

Interest Income 0 250

Finance Costs (2,407) (4,859)



LOSS BEFORE TAX (454,945) (484,775)

Taxation 0 0



TOTAL COMPREHENSIVE (454,945) (484,775)

EXPENSE FOR THE YEAR

LOSS PER SHARE

LOSS PER SHARE 4 0.015 0.021




BALANCE SHEET
As at 31 January 2012

At 31 January 2012 At 31 July 2011
(unaudited) (Audited)

£ £

ASSETS

NON-CURRENT ASSETS

Goodwill 868,088 868,088

Intangible Assets 255,213 223,306

Property, plant and equipment 15,384 9,057



1,138,685 1,100,451

CURRENT ASSETS

Inventories 403,975 162,663

Trade and other receivables 49,790 98,313

Cash and cash equivalents 79,970 55,911

533,735 316,887

TOTAL ASSETS 1,672,420 1,417,338

EQUITY

SHAREHOLDERS' EQUITY

Called up share capital 5,260,069 5,200,348

Share premium 831,887 0

Other reserves (3,444,553) (3,444,552)

Retained earnings (1,330,117) (875,172)

TOTAL EQUITY 1,317,286 880,624

LIABILITIES

CURRENT LIABILITIES

Trade and other payables 304,731 536,714

Financial liabilities: borrowings

Interest bearing loans and borrowings 50,403 0

TOTAL LIABILITIES 355,134 536,714

TOTAL EQUITY AND LIABILITIES 1,672,420 1,417,338






CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
As at 31 January 2012



Called up Share Merger Reverse Profit and Total
Share capital Premium reserve acquisition loss account Equity
reserve

£ £ £ £ £ £

At 1 August 2011 5,200,348 1,157,850 (4,602,402) (875,172) 880,624

Issue of Equity 59,721 831,887 891,607

Loss for the period (454,945) (454,945)

At 31 January 2012 5,260,069 831,887 1,157,850 (4,602,402) (1,330,117) 1,317,286

Called up Share Merger Reverse Profit and Total
Share capital Premium reserve acquisition loss account Equity
reserve

£ £ £ £ £ £

At 1 March 2011 150,539 419,249 (390,397) 179,391

Issue of Equity:

Consideration shares 4,042,498 4,042,498

Other shares issued 272,850 272,850

Reverse acquisition reserve 734,461 (419,249) 1,157,850 (4,602,402) (3,129,340)
conversion

Loss for the period (484,775) (484,775)

At 31 July 2012 5,200,348 1,157,850 (4,602,402) (875,172) 880,624







CONSOLIDATED STATEMENT OF CASH FLOWS
For the six months ended 31st January 2012

Six months Period
to 31 January 2011 to 31 July 2011
(Audited)

£ £

Cash flows from operating activities

Loss before tax (454,945) (484,775)

Depreciation charges 2,405 1,304

Investment income 0 (250)

Increase in inventories (241,312) (114,470)

(Increase)/decrease in trade and other receivables 48,523 50,144

Increase/(decrease) in trade and other payables (231,983) 229,629

Net cash from operating activities (877,312) (314,418)

Cash flows from investing activities

Purchase of intangible fixed assets (31,907) (28,006)

Purchase of tangible fixed assets (6,327) (6,921)

Acquisition of subsidiaries, net of cash 0 385,144

Finance income received 0 250

Net cash from investing activities (38,234) 350,467

Cash flows from financing activities

New loans in the year 109,005

Issue of equity net of costs 891,609 10,334

Repayment of loan (58,602)

Finance interest paid (2,407)

Net cash from financing activities 939,605 10,334

Increase/(decrease) in cash and cash
equivalents 24,059 42,383

Cash and cash equivalents at the beginning
of period 55,911 13,528

Cash and cash equivalents at end of period 79,970 55,911






NOTES TO THE HALF YEARLY REPORT

1 GENERAL INFORMATION

Ceres Media International plc is a public limited company incorporated and
domiciled in the United Kingdom with its shares listed on the AIM market of the
London Stock Exchange.

The principal activity of the Group is the development, production and
provision of 100% natural and compostable printing materials to the advertising
and point of sale markets.

The Ultimate parent company of the Group is Ceres Media International plc whose
principle place of business is 81 Rivington Street, London, EC2A 3AY and
registered office is Acre House, 11-15 William Road, London NW1 3ER.

The interim financial statements for the period ended 31 January 2012
(including the comparatives for the period ended 31 July 2011) were approved by
the Board of Directors on 30 April, 2012. Under the Security Regulations Act
of the European Union ("EU"), amendments to the financial statements are not
permitted after they have been approved.

The financial information set out in this interim report does not constitute
statutory accounts as defined in Section 434 of the Companies Act 2006. The
Group's statutory financial statements for the year ended 31 July 2011,
prepared under International Financial Reporting Standards ("IFRS"), have been
filed with the Registrar of Companies. The auditor's report on those financial
statements was unqualified and did not contain statements under Sections 498(2)
and 498(3) of the Companies Act 2006.

The interim financial information has been prepared using the accounting
policies set out in the Group's 2011 statutory accounts. Copies of the annual
statutory accounts and the interim report may be obtained by writing to Ceres
Media International plc, 81 Rivington Street, London EC2A 3AY and can be found
on the Company's website at www.ceresmediaplc.com

2 SEGMENTAL REPORTING

Six months Period
to 31 January 2012 to 31 July 2011

EU 36,443 16,817

Rest of the world 16,389 13,237

52,832 30,054






3 EXCEPTIONAL ITEMS

The Group incurred exceptional items of £300,281 in relation to costs incurred
to list the company on AIM and the share issue during the period.

4 EARNINGS / (LOSS) PER SHARE

The calculation of earnings per share is based on the net result and ordinary
shares in issue during the period as follows:

£ £

Loss for the financial period 454,945 484,775

Weighted average shares in issue in the period 30,978,591 23,373,726

Loss per share 0.015 0.021




5 SHARE CAPITAL

During the period Ceres Media International plc issued the following shares

Ordinary shares of 20p/1p each

In issue at 1 August 2011 26,001,739

Issued during the period 5,972,222

In issue at 31 January 2012 31,973,961

On 26th August 2011 the company converted each Ordinary Share of 20p into one
new Ordinary Share of 1p and a Deferred Share of 19p










END

CERES MEDIA INTERNATIONAL PLC

("Ceres" or the "Company" or the "Group")

Total Voting Rights

In accordance with the Financial Services Authority's Disclosure and
Transparency Rules, the Company hereby announces that it has 31,973,961
ordinary shares of 1p each in issue, each share carrying the right to one vote.
The Company does not hold any ordinary shares in treasury.



The above figure of 31,973,961 ordinary shares may be used by shareholders in
the Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the Financial
Services Authority's Disclosure and Transparency Rules.

For further information, please contact:

Ceres Media International PLC Tel: 020 3178 5622
Alex Dowdeswell
Leslie Barber

Nominated Adviser Tel: 020 7148 7900
Cairn Financial Advisers LLP
Jo Turner / Liam Murray

Broker Tel: 020 3002 2070
First Columbus LLP
Chris Crawford / Kelly Gardiner



END

CERES MEDIA INTERNATIONAL PLC

("Ceres", "the Company" or "the Group")

Issue of Equity

The board announces that it has issued and allotted 194,444 new ordinary shares
in the Company at a price of 18 pence per share in lieu of an outstanding
liability. Following the issue of equity the Company's share capital comprises
31,973,961 ordinary shares of 1 pence per share.

The 194,444 new ordinary share rank pari passu with the existing ordinary
shares. Application for the 194,444 new ordinary shares has been made to the
London stock Exchange, trading in these shares on AIM is expected to commence
on or around 13 February 2012.

For further information, please contact:

Ceres Media International PLC Tel: 020 3178 5622
Alex Dowdeswell
Leslie Barber

Nominated Adviser Tel: 020 7148 7900
Cairn Financial Advisers LLP
Jo Turner / Liam Murray

Broker Tel: 020 3002 2070
First Columbus LLP
Chris Crawford / Kelly Gardiner

Financial PR Tel: 020 7556 1063
De Facto Financial
Mike Wort / Anna Dunphy



END

CERES MEDIA INTERNATIONAL PLC

("Ceres", "the Company" or "the Group")

Trading update

Further to the announcement made 19 December 2011, the Company has now resolved
the technical issues associated with the production of its TierraFilm range and
has taken delivery of stock of this product and, upon receipt of an order, can
be immediately delivered. The TierraFilm products are currently being trialled
by distributors, printers and end users and the feedback received by the
Company from the trials has been positive.

TierraFilm products are designed as an environmental alternative to the coated
paper or oil based materials typically used in the print industry. They are
manufactured using Sustainable Forestry InitiativeTM (SFI) certified raw
materials and can be disposed of in existing biodegradation, composting or
Energy From Waste systems removing the need to landfill.

Delays in scaling up production and bringing TierraFilm to the market together
with the slower than anticipated take-up of Gossyp and Chorus products, as
previously announced, have had a consequential impact on the Company's working
capital position, which the board is monitoring closely. The board has also
taken action to reduce the cost base of the Company in order to conserve its
cash position.

The sales of Chorus and Gossyp, the Company's other principal products,
continue to be significantly below the board's expectations and the Company is
continuing to refocus its sales strategy in relation to these products.

A further update will be made in due course.

For further information, please contact:

Ceres Media International PLC Tel: 020 3178 5622
Alex Dowdeswell
Leslie Barber

Nominated Adviser Tel: 020 7148 7900
Cairn Financial Advisers LLP
Jo Turner / Liam Murray

Broker Tel: 020 3002 2070
First Columbus LLP
Chris Crawford / Kelly Gardiner

Financial PR Tel: 020 7556 1063
De Facto Financial
Mike Wort / Anna Dunphy



END