Ringo Francis

1
Investor Presentation
Interim results May 2007
Ringo Francis Chairman Chief Executive
Julie Rowlands Finance Director
2
Presentation coverage

• Half year results
• Financial Highlights
• Profit and Loss Account
• Balance Sheet
• 2. Top ten Groups growth
• 3. New Business
• 4. Current trading
• 5. Other Group developments

3
1. Half Year 2007 results

• Financial Highlights
• Turnover has risen 27 (underlying 8 excluding
  acquired businesses)
• EBITDA risen 56 to 1.7million (20061.1
  million)
• Interim dividend of 0.5p announced
• Exceptional charges relate to third party
  supplier costs, relocation expenses and initial
  costs for the bid approach
• Operating cash flows improved by 1.0 million
  (541,000 2007 vs. -466,000 2006)

4
Profit and Loss Account for period ended 28
February 2007

• Sales up 27 underlying non- acquired business up
  8
• EBITDA up 56 on last year at 1.7 million
• PBT up 95 at 605,000
• PBT is stated pre goodwill, exceptional items
  and after interest charges

5
Balance Sheet as at 28 February 2007
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2. Top ten Groups growth
7
3. New business

• In the 8 months since September 2006 the
  Group has taken on
• Starbucks
• Travelodge
• Caffe Uno
• Connect Catering
• TCG Acquisitions
• Gaucho Grill
• Whittlebury Hall
• Royal Marsden Hospitals
• In total new business won in the 6 months is
  expected to annualise _at_ 3.1 million

YTD New Business targets tracking in line with
expectations
8
4. Current trading

• Last 2 months
• New business continues to be in line with
  internal targets
• Base sales are down with internal targets
• Exceptional charges for the full year 2007 are
  expected to be less than full year 2006, but will
  increase on half year positions due to the costs
  associated with bid approach
• Seasonal uplifts not as expected

9
5. Other Group developments

• Ongoing search for suitable Finance Director and
  focus on strengthening overall composition of the
  Board
• Concerted efforts in place to reduce the working
  capital requirements underpinned by tighter
  controls and systems enhancements
• Top to bottom review of finance and system
  controls already underway
• Conservative view of net debt taken for the year
  end