Operational Highlights:

·         Turnover up 10% at £31.0 million

·         EBITDA of £2.1 million (2002 - £1.1 million)

·         Operating profit before goodwill of £1.5 million (2002 - £0.3 million)

·         Net cash resources of £6.3 million (2002 - £5.0 million)

·         Net funds of £4.6 million (2002 - £1.9 million)

Commenting on the results Mark Lancaster, Chairman and Chief Executive of SDL said:

“The first half of 2003 has proved to be stronger than anticipated, with our turnover up 10% to £31 million and an operating profit before goodwill of £1.5 million. This is a major achievement considering the price pressure and generally flat trading conditions that continue to beset most of the major markets in which we operate. With one of the largest translation solution infrastructures in the world combined with complete knowledge-based translation technology, SDL is able to address the issues faced by customers requiring more efficient translation from one language to another. This has been seen with our existing customers utilising SDL WorkFlow technology and this forward looking approach starting to bring in larger long-term deals and relationships.”