The bottom line with this company is that the results are going to be good....they have nearly doubled the size of the company with the Pre-print purchase, and for a steal of a price.....for the uninitiated the interims from last year)

Financial and operational highlights for the period:

- Turnover up 119 per cent. from 1.70 million to 3.71 million

- Revenue increased by 124 per cent. from 1.17 million to 2.62 million

- Operating profit increased by 113 per cent. to 147,873 from 69,225

- Net profit before tax improved from 2,602 to 127,085

- Earnings per share up from 0.02 pence to 0.40 pence

- EBITDA improved to 233,350

- Valuable first time contributions from Fourninety and FI Group acquisitions
which were completed in January 2003

- Successful acquisition of the business and assets of Le Fevre
Communications in May 2003


Kevin Steeds, Chairman of Media Square, commented:


'It is encouraging to report that following two years of substantial losses and
the major reorganisation of the business at the end of the previous financial
year, the Group has made a healthy pre tax profit of over 127,000 in the first
six months of the current financial year.


'We continue to operate in difficult market conditions, but are making steady
progress in developing our existing businesses. We have always recognised that,
in order to deliver sustainable shareholder value, we need to substantially
expand the scale of the Group and to that end, we are actively pursuing a number
of exciting opportunities.'


And the purchase of Pre-print statement:

24 October 2003


Acquisition of the ongoing business and certain assets of
PrePrint Imaging Limited

Media Square, the AIM-listed marketing communications and marketing services
group, has today acquired the ongoing business and certain assets of PrePrint
Imaging Limited ('PrePrint'), the Leeds-based retail marketing services
business. PrePrint provides marketing services support, encompassing the
production of catalogues, brochures, point of sale materials and flyers for
major high street and home shopping retailers. The acquisition is Media
Square's sixth deal this year and significantly enhances the Company's offering
in the retail marketing sector.

The acquisition of the ongoing business and certain assets of PrePrint follows
the appointment of an administrative receiver to PrePrint on 23 October 2003.
Media Square has made an initial cash payment of 115,000 and the Directors
anticipate that the total cost of the transaction and subsequent restructuring
of PrePrint will not exceed 500,000.

During its most recent financial period, PrePrint had sales of 4.6 million and
gross profit (revenue) of 3.6 million. Its clients include GUS Home Shopping,
Shop Direct Group, My Travel, Redcats, Simon Jersey and Vertbaudet. The company
employs approximately 76 people.

Once the acquisition is completed, the business will be incorporated within
Media Square's Retail Marketing Group and will be integrated with Fourninety
Limited, the retail marketing services business which Media Square acquired in
January.

The acquisition provides an excellent fit with the strategy announced by Media
Square during its recent fundraising. Part of the proceeds of this fundraising
have been used to finance the acquisition.

Speaking about the acquisition, Kevin Steeds, chairman of Media Square, said:

'This is an excellent acquisition for Media Square. The deal more than doubles
Media Square's offering in the retail marketing services sector and brings a
high quality, very capable team of professionals into our group.

'We plan to merge the business into our Retail Marketing Group and integrate it
with Fourninety, our retail marketing services business, within the next three
months.'

Target: probably take out investment around 30p let profits run long term
Forecast: 2004....50/60p,.......2005.....80/90p
Any opinions?

looks like another good day, may have to revise previous post soon!