CCH International is a publicly listed company on the Alternative Investment Market (AIM) of the London Stock Exchange, trading under the symbol CCH. CCH International was established by a team of trade finance specialists and brokers with the aim of providing a range of trade finance products to institutions and corporations wishing to raise finance or to sell on trade receivables either through conventional or Islamic means or through its internet based brokerage facility www.cch-etrade.com.

CCH International offers a variety of trade finance facilities including the purchase of short term trade receivables, forfaiting, the discounting of promissory notes, issuance and discounting of letters of credit, back to back letters of credit, deferred payment letters of credit, discounting bills of exchange , asset backed finance and internet based trade finance broking. CCH International is also a specialist in Islamic Finance and can arrange for Morahaba, Ijara, Istisna and other compliant facilities.

CCH International has offices in England and Germany, as well as strategic relationships in Australia, Bahrain, UAE, Turkey, Iraq and the USA.

http://www.cch-international.com/






Financial calendar (not up and running as yet):

http://www.cch-ir.com/content/investor/financial_calendar.asp

Presentation of 2006 Interim Results (PPT - 1.3MB):

http://www.cch-ir.com/PDF/InterimsPresentationSeptember%202006.ppt#257,2,Presentation Team

2006 Interim Report (PDF):

http://www.cch-international.com/PDF/CCHInterim18.09.06.pdf

8 September 2006
CCH International plc

("CCH" or "the Company" or "the Group")

Interim results for the six months ended 30 June 2006


CCH International plc (AIM: CCH), the trade finance group, today announces its
interim results for the six months ended 30 June 2006.


Highlights

* turnover increased to #7.85 million (1H 2005: #970,095)
* pre-tax profit increased to #1.6 million (1H 2005: #43,060)
* gross profit increased to #3.05 million (1H 2005: #613,358)
* earnings per share increased to 1.09 pence (1H 2005: 0.09 pence)
* maintains leading market position in Sharia-compliant trade finance
products
* undertaken first trade finance transaction in the Russian market
* agreement with Bill Express Limited (ASX: BXP) of Australia to implement an
A$80 million five-year Sharia-compliant trade finance facility


Highlights from the current trading period

* US$ 20 million Sharia compliant Morabaha facility extended to Globexbank,
Moscow
* multiple deals to the value of US $36 million with Turkish GISAD group
* commitment to increase liquidity in the Company's shares this year

Commenting on the 2006 interim results, Eren Nil, Managing Director of CCH,
said: "We are delighted with the performance in the first half of this year.
Strong demand for Sharia compliant trade finance facilities continues to drive
sales and we are also pleased that the scope of our reach has expanded to
include a wider range of markets. The second half of 2006 has started well, and
we are confident that we will be able to continue to deliver sustainable growth,
not just for the rest of this year but into 2007 and beyond. "


Very confident Chairman and Chief Executives statement (below):

We are pleased to report that the results for the first half of 2006 have been dominated by the growing strength of the Groups profitability. Profit before tax was 1,604,425 compared with 43,060 during the same period last year. Earnings per share were up 12 times to 1.09 pence. The vast majority of this significantly improved profit emanated from the Groups Sharia compliant Islamic trade finance activities.

During this period we have entered into a number of significant international transactions, thus further establishing CCH International as one of the most active players able to structure trade finance products in an Islamically acceptable fashion. There is an almost daily increase in demand for these products from investors wishing to invest in a Sharia compliant manner. Our funding lines are currently running at over US$ 280 million, enabling the Group to finance more than US$1 billion of 90-day short-term trade finance products and we are looking to increase and diversify our funding lines to meet growing demand.

With offices in England, Germany and Bahrain, together with strategic alliances in Turkey, UAE, Australia and USA, we plan to further strengthen our position in our markets. Our funding lines continue to grow and support our deal flow which remains very strong.

Your Board is confident that the Group will continue to maintain its pace of growth whilst further developing Sharia-compliant product offerings in our niche markets, including project finance and leasing.

In the first half of this year we have secured a number of important contracts both in terms of value and geographical reach.

We continue to expand geographically and recently entered into our first sharia-compliant finance transaction in the Russian market which we reported in July.

In conclusion, the opportunities for CCH International within a strong and growing trade finance market for transactions structured both Islamically and conventionally remain excellent. The Groups performance speaks for itself and we expect CCH International to continue to deliver shareholder value. We look forward to reporting positively on the results for the year ending 31 December 2006.

Ian Salter Erin Nil
Chairman Chief Executive

http://moneyam.uk-wire.com/cgi-bin/articles/200609080700316697I.html

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Downside (temporary):

As pointed out in the 2005 Annual Report, CCH intends to increase liquidity in the Companys shares to facilitate greater volumes of trade and this is to be achieved in the very near future.

-----------------------------------

Earnings projections:

With strong demand for Sharia compliant trade finance facilities continuing to drive sales and expanding through a wide range of markets.

Could potentially multi-bag from here if they continue to grow at this pace: Comparing the pre tax profit growth from 2H 2005 PTP 646,494 to 1H 2006 PTP 1.6m, works out at an impressive 147% growth over 6 months.

Seeing as earnings per share increased to 1.09 pence 1H 2006:

If CCH were to stand still (ie no growth) for the rest of the year they would make EPS of 2.18p which would put them on a respectable PER of x7.5 (at 16.5p mid. share price), for this year 2006.

But with the strong demand for Sharia compliant trade finance facilities and with the funding lines currently running at over US$ 280 million, enabling the Group to finance more than US$1 billion of 90-day short-term trade finance products. My earnings projections are for an increase of at least 50% (trying to be conservative) over the second half of 2006 compared with the first half of 2006. CCH would then make EPS of 2.7p which would put them on a low PER of x6.1 (at 16.5p mid. share price), for this year 2006.

Must surely be looking at a very low PER for 2007.

As always DYOR

Insinger de Beaufort is the Nominated Advisor and Broker for CCH, who have not finalized the Note on CCH International as yet.But for which I am hopeful of the Note to be released shortly.

Shares on offer reduced to 13,402 (maximum)- was 50,000 shares maximum on offer last week with Selftrade.

MM's may not have many shares, looking at the above.



Has any-one got L2 and if so how may MM's deal in this share (CCH)?

Thanks in advance.

I have just bought into this one today as I think the next results in Feb 07 will be spectacular-just a hunch!! bought through telephone dealing as restricted online hoping this may do a SOLA next year for me. The CEO holds 80% of the company which why buying is restricted-the promise is that he will sell part of his holding to increase liquidity. IMO this is not a downside but a big plus when it happens.

moneyplus - yes I agree, increase in liquidity would be very welcome, for one example it would also attract the attention of the larger investors, for whom it would become easier to buy a decent quantity.

As it stands at this moment (illiquid), if any good news is released it would be almost impossible to buy any decent quantity (or heaven forbid vice verse).

For anyone that may be interested. Their are 3 MM's on the books, in answer to my own question from previous post.

With Thanks to mjcrockett (ADVFN).

interest in this one will rise when they repeat excellent results like the previous set to establish they continue to grow. while they are below the radar we have a chance to accumulate IMO.

moneyplus - and accumulate in size at this moment in time. Reading through the ADVFN BB, it was mentioned (complaining) that they could only buy 500 shares at the release of good news at the time.
The NMS is also only 500 shares.

try phoning the dealing desk-I bought 20000 that way and a further 5000 online yesterday via selftrade.

Yes, Selftrade are now showing maximum 15000 shares at 17p offer.

Got most of my shares, but may top up shortly.

Islamic Finance (through which CCH is expecting strong growth for 2H 2006 and into 2007):

Morabaha Financing

Morabaha financing is the Islamic finance of trade transactions with known products and fixed maturity dates. The profit rate is always agreed at the commencement of the transaction and therefore cannot fluctuate through the life of the transaction. (Conventionally this would be fixed rate financing eliminating any risk of upward or downward movements in interest rates.)

Profit as agreed can be paid during the transaction or at maturity.

Morabaha financing would usually be for transactions of between one month to three years.

The financing institution will normally pay the proceeds of a Morabaha facility to the supplier of the goods being purchased. The buyer would pay profits and principle to the financing institution at maturity. On occasions the buyer's obligations may need to be guaranteed by a guarantor acceptable to the financing institution

Ijara Financing

Ijara financing is the Islamic equivalent to conventional lease financing. Ijara will be used when there are products that may be financed by a leasing structure such as shipping containers, vessels and cars. etc.

The profit rate is re-fixed every three to six months as profit is paid and therefore may increase or decrease during the life of an Ijara facility.

The financing institution will usually require formal title (or a charge) over the underlying products being leased, however this is not always the case.

Ijara financing would usually apply to transactions with tenors of between two and ten years.

Eren Nil, Managing Director of CCH International is also the local agent for ICIEC, the insurance subsidiary of Islamic Development Bank, Jeddah.

AFX news from the Interum Results dated 08.09.2006. (which highlights the strong demand seen and expected going forward for Sharia-compliant trade finance facilities):


CCH H1 profit boosted by strong demand for Sharia-compliant trade finance credit

LONDON (AFX) - CCH International PLC reported a sharp jump in profits for
the first half on the back of strong demand for Sharia-compliant trade finance
facilities.
The trade finance group also said the second half has started well and that
it expects to report positive results for 2006 as a whole, with growth
continuing next year and beyond.
In the six months to June 30, pretax profits soared to 1.6 mln stg from just
over 43,000 on sales up at 7.85 mln stg from around 970,000.
newsdesk@afxnews.com

http://www.advfn.com/news_CCH-H1-profit-boosted-by-strong-demand-for-Sharia-compliant-trade-finance-credit_16760676.html

I have not got L2, but Selftrade were showing maximum 10,000 shares at 17p offer on friday (Selftrade were showing maximum 50,000 shares at 17p offer just over a week ago).
I could be wrong but it looks like the MM's may not have that many shares on their books, so any sustained buying from here on and we could very possibly see a good rise in the share price.

early days yet but nearer the next set of results I expect them to start rising back towards the previous high.

That's a potential increase of 50% in share price back to the previous high, with the potential of much more to come.

agreed-that's why I want to accumulate at these levels as some spare cash comes along!! all being well next year this one will be on the radar of analysts etc and we should be well rewarded. IMO of course.

Just been reading through the RNSs for CCH and what I noticed, was that the major news items (potential major earnings enhancements) that were released, were just prior to their end of 1Half reporting period (to 30 June), and hence would not have had the timescale to have made much of an impact in their Interim Report (1H Results 2006).

Earnings from these RNSs, to be earned and shown in the 2Half (to 31 December - end of financial year) and beyond.

Below are the RNSs I am referring to:

-------------------------------
CCH increases financing facilities by 50 mln usd
16/06/2006 08:53 AFXF

LONDON (AFX) - CCH International plc, the trade finance group, said it has increased financing facilities available to it by 50 mln usd.
CCH now has committed funding lines available to it of over 240 mln usd.
This latest increase, which has been provided by an Islamic bank based in the Middle East and structured in a Sharia-compliant manner, is committed and available to CCH for a period of three years, CCH said.
Due to the ever increasing demand for CCH's products, CCH said it will seek to increase its committed funding base by an additional 50-100 mln usd prior to the end of 2006.

newsdesk@afxnews.com

--------------------------------
Re Agreement
RNS Number:8848D
CCH International plc
01 June 2006

Press Release 1 June 2006

CCH International plc ("CCH" or "the Company")

CCH agrees multiple financing facilities for Turkish group GISAD

CCH International Plc (AIM: CCH), the trade finance group, today announces a number of financing agreements.


Sharia-compliant facility for GISAD Dis Ticaret A.S.

CCH has reached agreement with GISAD Dis Ticaret A.S. ("GISAD") of Turkey to conclude a US$10 million three-year Sharia-compliant trade finance facility for GISAD to fund VAT receivables due from the Turkish government. CCH has acted as an agent of the Funder, an Islamic Bank located in the Gulf . This is the second tranche of an existing US$20 million facility that was originally funded in 2005. GISAD is a leading Turkish export trade company offering a wide range of activities and investments from raw materials to textiles to transportation, with total exports of its 800 partners reaching US$2.5 billion.


Sharia-compliant facility for GISAD Arac Kiralama A.S.

CCH has arranged a US$20 million Sharia-compliant financing facility for a GISAD subsidiary, GISAD Arac Kiralama A.S., which centrally manages vehicle parks, covering the purchase of cars for onward leasing to GISAD member companies. This has been jointly mandated with an Islamic GISAD Arac has also mandated CCH to increase the overall facility to US$100 million once this US$20 million tranche
is fully utilised.


US$20 million financing facility for GISAD Faktoring A.S.

Initial funding of US$6 million has also commenced under a US$20 million financing facility for GISAD subsidiary, GISAD Faktoring A.S., which is a fully equipped factoring company that offers the full range of trade finance products and services. It is the intention to increase this facility amount to US$20 million within six months. The facility will be used to finance a pool of local
Turkish receivables insured for non-payment by a local Turkish insurance company.


Ibrahim Ozdogan, Chairman of GISAD, said: "We are pleased to have entered into these facilities with CCH. We increasingly look to CCH for innovative financial solutions to our financing needs through CCH's ability to create flexible Sharia compliant financing solutions."


Eren Nil, Managing Director of CCH International plc, commented: "We are delighted to further strengthen our relationship with GISAD, one of Turkey's major exporters. As Ibrahim states, we are currently looking at several other transactions with Gisad and I hope to be able to make similar announcements about these in the near future. This transaction shows our ability to conclude multiple transactions with one client."

Then we have the RNSs that were released prior to their end of 1Half reporting period and would have had some impact on their Interim Report (1Half Results 2006), but probably on average for 2months only.

Again - earnings from these RNSs, to be earned and shown in the 2Half (to 31 December - end of financial year) and beyond.


Below are the RNSs I am referring to:

--------------------------------------
Export Finance Agreement
RNS Number:8462B
CCH International plc
24 April 2006

Press Release
24 April 2006

CCH Internanational plc ("CCH" or "the Company")

CCH funds US$30 million AA rated credit insurance wrapped hazelnut procurement facility in Turkey

CCH International plc, the trade finance group, announces an agreement between its wholly owned subsidiary CCH Europe GmbH and Basaran Gida Ticaret ve Turizm Isletmeleri ("Basaran") of Turkey to implement a one year US$30 million Sharia-compliant hazelnut export finance facility. Insurance against non-payment is provided by an international insurance company with a Fitch rating of AA.


---------------------------------------
Agreement with Bill Express
RNS Number:3384B
CCH International plc
11 April 2006

Press Release
11 April 2006

CCH International Plc ("CCH" or "the Company")

A$80 million Sharia compliant trade finance facility for Bill Express

CCH International plc, the trade finance group, today announces an agreement with Bill Express Limited ("BXP") (ASX: BXP) of Australia to implement an A$80 million five-year Sharia-compliant trade finance facility. Insurance against non-payment will be provided by QBE Insurance Group which has a Standard & Poors rating of A+. This facility has been co-arranged with the Sydney based
Investment Bankers Convergence Capital.

Now we have the RNS that was released after their end of 1Half reporting period and hence would not have had any impact on their Interim Report (1Half Results 2006).

Earnings from this RNS, to be earned and shown in the 2Half (to 31 December - end of financial year) and beyond.


Below is the RNS I am referring to:


--------------------------------
Agreement with Globexbank
RNS Number:1595I
CCH International plc
29 August 2006

Press Release
29 August 2006

CCH International plc ("CCH" or "the Company")

CCH enters into a Sharia compliant US$20,000,000 Morabaha facility with Globexbank
CCH International plc, the trade finance group, is pleased to announce an agreement between its wholly owned subsidiary CCH Europe GmbH and Globexbank, Moscow to provide a US$20,000,000 Sharia compliant Morabaha facility; a facility typically utilised in the supply and sale of goods at an agreed price, plus a profit mark up. The repayment of the Morabaha facility is guaranteed by Globexbank. The first two payments totalling US$15,000,000 have already been
funded with the last payment to be made during August / September 2006.

So it looks like CCH are in for some serious earnings in the 2Half (to 31 December - end of financial year), when you consider the above news items that were released via RNS.

As always DYOR


P.S. For the above RNSs follow this link:

http://www.investegate.co.uk/Index.aspx?searchtype=3&words=CCH&Go=search