CPT GLOBAL LIMITED

CPT Global Limited Appendix 4D - Half-Year Report December 2010

Results for Announcement to the Market				Current period	Previous
					corresponding
					period
				Dec-10	Dec-09
				A $000's	A $000's
Revenues from ordinary activities	up	3.81%	to	$19,555	$18,837
Net Profit (Loss)before taxattributable to members	up	222.24%	to	$1,061	($868)
Net Profit (Loss)after taxattributable to members	up	171.38%	to	$611	($856)
Dividends (distributions)				Amount per	Franked amount
				security	per security
Interim Dividend				1.5 cents	1.5 cents
Record date for determining entitlements to the final				30th March 2011	30th March 2011
dividend.
Payment date of Interim Dividend				15th April 2011	15th April 2011
Earnings per security (EPS)				Current period	Previous
					corresponding
					period
Basic EPS				1.66	-2.33
Diluted EPS				1.65	-2.29
NTA backing
Net tangible asset backing per ordinary security				0.16	0.16

ABN 16 083 090 895

Half-Year Financial Report

for the Half-Year ended 31 December 2010

CPT Global Limited & Controlled Entities - Half-Year Report

Corporate Information

ABN 16 083 090 895

Directors

Fred S Grimwade (Non-Executive Chairperson) Gerard (Gerry) Tuddenham (Managing Director) Peter Wright (Executive Director) Alan Baxter (Non-Executive Director) – Appointed on January 1, 2011 Ian MacDonald (Non-Executive Director) – Resigned on December 31, 2010

Company Secretary

Elliot Opolion – Appointed on October 25, 2010

Registered Office

Level 1, 4 Riverside Quay Southbank Melbourne, Victoria 3006 +61 3 9684 7900

Solicitors

Gadens Lawyers

Bankers

ANZ Banking Group Limited

Share Register

Computershare Investor Services Pty Ltd Yarra Falls, 452 Johnston Street Abbotsford Vic 3067 Telephone: 1300 850 505 Facsimile: +613 94732500

Auditors

Moore Stephens

Internet Address

www.cptglobal.com

CPT Global Limited & Controlled Entities - Half-Year Report

Directors' Report	3
Auditor’s Independence Declaration	5
Consolidated Statement of Comprehensive Income	6
Consolidated Statement of Financial Position	7
Consolidated Statement of Changes in Equity	8
Consolidated Statement of Cash Flows	9
Notes to the Financial Statements	10
Directors' Declaration	12
Independent Audit Report	13

CPT Global Limited & Controlled Entities - Half-Year Report

Directors' Report

Your directors submit the financial report of the consolidated group for the half-year ended 31 December 2010.

DIRECTORS

The names and details of the company's directors in office during the half year and until the date of this report are as follows. Directors were in office for this entire period unless otherwise stated.

Fred S Grimwade (Non Executive Chairperson)
Gerard (Gerry) Tuddenham (Managing Director)
Peter Wright (Executive Director)
Alan Baxter (Non Executive Director) – Appointed on January 1, 2011
Ian MacDonald (Non Executive Director) – Resigned on December 31, 2010

REVIEW AND RESULTS OF OPERATIONS

FINANCIAL REVIEW

CPT Global’s revenue for the half year ended 31 December 2010 was $19.6 million, a 4% increase on the previous corresponding half year’s revenue of $18.8 million. Australian Revenue increased 1% to $14.1 million (2009 $13.9m) and international revenue increased 15% to $5.5 million (2009 $4.8m). EBITDA for the half year was $1.2m compared to a loss of $0.7m in the previous half year.

CPT Global’s net profit after tax for the half year ended 31 December 2010 was $0.6 million, compared to the previous corresponding half year’s loss of $0.9 million.

Continued volatility in foreign exchange markets has led to $257,000 of foreign currency translation losses (2009 $103,000).

Earnings per share was 1.66 cents per share and diluted earnings per share was 1.65 cents per share.

Based on the first half results CPT Global Limited will pay a dividend of 1.5 cents per share which is in line with its policy of a high dividend payment ratio on net profit after tax.

REVIEW OF OPERATIONS

Australia

Performance of the Australian operations has improved in the period. Although CPT Global’s business at its largest Australian client has reduced significantly due to the completion of client projects, this has been offset by growth in a number of other accounts, particularly within two large financial institutions which have become large strategic accounts. In addition Australian staff expertise has been utilized in the USA and Europe to assist in the growth of CPT Global’s international business.

The restructure implemented in early 2010 has been a key contributor to the reduction in the cost base which supported the achievement of this result. A key strategic objective is the expansion of the Sydney market. A senior business development executive with a strong track record of successfully growing profitable business has recently been appointed to lead this expansion from early 2011.

International

The international operations have also performed better in the period. Although profitable, CPT Global is still awaiting a return on the business development investments made over the past few years. During the period CPT Global completed several small engagements (Phase 1) at Fortune 500 Companies, with one client committing to the more lucrative Phase 2, where CPT Global shares in the savings achieved by the client. There are many clients in Europe and North America currently considering the potential to proceed to Phase 2 on a risk / reward basis. We anticipate that many of these clients will proceed at some stage over the next 12 months, leading to further expansion of the International business. A number of long term contracts with CPT Global’s larger International clients have been renewed again.

CPT Global Limited & Controlled Entities - Half-Year Report

Now that CPT Global’s value proposition is generating more interest in the company’s International business, our focus remains on further business development, the capitalisation of previous business development activities and the cultivation and growth of our current client base, with the aid of our alliance partner Tori and our relationship with Austrade.

OUTLOOK

In the Australian operations, the framework is now in place to capitalise on the improved economic outlook, with the appointment of a proven business development executive to lead our expansion in the Sydney market and further enhancement of our intellectual property through targeted expansion of our practice and consultant capabilities. In the event there are further reductions in CPT Global’s presence at our previously largest Australian client, CPT’s mitigation strategy will be to redeploy these consultants to other strategic accounts due to their highly specialist skills base and capabilities. This is in line with activity over the period where almost all resources who have become available, have been redeployed to other accounts without delay.

In the International operations, we expect further growth by capitalising on prior business development investments and focusing on transitioning clients to the more lucrative Phase 2 projects.

CPT Global is positive about the outlook for the second half of the 2011 financial year and our Statement of Financial Position remains sound.

ROUNDING

The amounts contained in this report and in the financial report have been rounded to the nearest $1,000 (where rounding is applicable) under the option available to the company under ASIC Class Order 98/0100. The company is an entity to which the Class Order applies.

AUDITORS DECLARATION

The lead auditors independence declaration under section 307C of the Corporations Act 2001 is set out on page 5 of the halfyear report ended 31 December 2010.

Signed in accordance with a resolution of the directors.

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Gerard (Gerry) Tuddenham Managing Director Melbourne, 21 February 2011

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Level 10, 530 Collins Street Melbourne VIC 3000 T +61 (0)3 8635 1800 F +61 (0)3 8102 3400

www.moorestephens.com.au

Auditor’s Independence Declaration under Section 307C of the Corporations Act 2001 to the directors of CPT Global Limited and Controlled Entities

I declare that, to the best of my knowledge and belief, during the half-year ended 31 December 2010 there have been:

(i) No contraventions of the auditor independence requirements as set out in the Corporations Act 2001 in relation to the review, and
(ii) No contraventions of any applicable code of professional conduct in relation to the review.

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MOORE STEPHENS Chartered Accountants

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S. David Pitt Partner

Melbourne, 21 February 2011

Moore Stephens ABN 39 533 589 331. Liability limited by a scheme approved under Professional Standards Legislation. An independent member of Moore Stephens International Limited – members in principal cities throughout the world. The Melbourne Moore Stephens firm is not a partner or agent of any other Moore Stephens firm. And is a separate partnership in Victoria.

CPT Global Limited & Controlled Entities - Half-Year Report

Consolidated Statement of Comprehensive Income

HALF-YEAR ENDED 31 DECEMBER 2010

HALF-YEAR ENDED 31 DECEMBER 2010
	31 Dec 10 31 Dec 09 $'000 $'000
Revenue Other income Salaries and employee benefits expense Consultants benefits expense Depreciation and amortisation expenses Insurance expense Finance costs Lease expenses Foreign exchange losses Other expenses PROFIT/(LOSS) BEFORE INCOME TAX INCOME TAX BENEFIT/(EXPENSE) PROFIT/(LOSS) AFTER INCOME TAX Other comprehensive loss: Exchange differences on translating foreign controlled entities Total Other Comprehensive Loss for the period, net of tax TOTAL COMPREHENSIVE INCOME/(LOSS) TOTAL COMPREHENSIVE INCOME/(LOSS) ATTRIBUTABLE TO MEMBERS OF CPT GLOBAL LIMITED Basic earnings per share (cents per share) Diluted earnings per share (cents per share)	19,544 18,715 11 122 (1,563) (1,498) (14,570) (15,758) (63) (88) (113) (101) (66) (75) (207) (203) (257) (104) (1,655) (1,878) 1,061 (868) (450) 12
	611 (856) (312) (559)
	(312) (559)
	299 (1,415)
	299 (1,415)
	1.66 -2.33 1.65 -2.29

The Consolidated Statement of Comprehensive Income is to be read in conjunction with the Notes to the Financial Statements.

CPT Global Limited & Controlled Entities - Half-Year Report

Consolidated Statement of Financial Position

AT 31 DECEMBER 2010

AT 31 DECEMBER 2010
	AS AT 31 DECEMBER 2010 AS AT 30 JUNE 2010 $'000 $'000
Current Assets Cash and cash equivalents Trade and other receivables Inventories Other financial assets Current tax asset Other current assets Total Current Assets Non-Current Assets Deferred tax assets Property, plant and equipment Intangible assets Total Non-Current Assets Total Assets Current Liabilities Trade and other payables Borrowings Current tax liabilities Total Current Liabilities Non-Current Liabilities Trade and other payables Financial Liabilities Deferred Tax Liabilities Other long term provisions Total Non-Current Liabilities Total Liabilities Net Assets Equity Issued capital Reserves Retained earnings Total Equity	622 1,050 8,389 8,249 2,350 1,869 - 10 - 112 405 454
	11,766 11,744
	397 366 266 293 7,333 7,350
	7,996 8,009
	19,762 19,753
	5,145 5,687 686 573 79 -
	5,910 6,260
	38 53 27 52 53 53 358 267
	476 425
	6,386 6,685
	13,376 13,068
	12,075 12,075 311 614 990 379
	13,376 13,068

The Consolidated Statement of Financial Position is to be read in conjunction with the Notes to the Financial Statements.

CPT Global Limited & Controlled Entities - Half-Year Report

Consolidated Statement of Changes in Equity

Balance at 1 July 2009 Profit attributable to members of parent entity Share-based payments Transfers to and from equity reserve Total other comprehensive income Sub-total Dividends paid or provided for Balance at 31 December 2009 Balance at 1 July 2010 Profit attributable to members of parent entity Share-based payments Total other comprehensive income Sub-total Dividends paid or provided for Balance at 31 December 2010	$000 $000 $000 $000 $000 Issued Capital Retained Earnings Equity Reserve Foreign Currency Translation Reserve Total 12,075 4,602 1,426 (230) 17,873 - (856) - - (856) - - 123 - 123 12 (12) - - - - (559) (559)
	12,075 3,758 1,549 (801) 16,581 - (1,102) - - (1,102)
	12,075 2,656 1,549 (801) 15,479
	12,075 379 1,670 (1,056) 13,068 - 611 - - 611 - - 9 - 9 - - - (312) (312)
	12,075 990 1,679 (1,368) 13,376 - - - - -
	12,075 990 1,679 (1,368) 13,376

The Consolidated Statement of Changes in Equity is to be read in conjunction with the Notes to the Financial Statements.

CPT Global Limited & Controlled Entities - Half-Year Report

Consolidated Statement of Cash Flows

Consolidated Statement of Cash Flows
HALF-YEAR ENDED 31 DECEMBER 2010	31 Dec 10 31 Dec 09 $'000 $'000
Cash Flows From Operating Activities Receipts from customers Payments to suppliers and employees Interest received Finance costs Income tax paid NET CASH FLOWS FROM/(USED IN) OPERATING ACTIVITIES Cash Flows From Investing Activities Proceeds from sale of property, plant and equipment, software Purchase of property, plant and equipment, software NET CASH FLOWS USED IN INVESTING ACTIVITIES Cash Flows From Financing Activities Proceeds from borrowings - other Repayment of borrowings - other Payment of dividends on ordinary shares NET CASH FLOWS USED IN FINANCING ACTIVITIES NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS HELD Add opening cash and cash equivalents brought forward Effects of exchange rate changes on cash held in foreign currencies Closing Cash and Cash Equivalents Carried Forward	19,501 21,405 (20,040) (20,656) - - (66) (75) (288) (520)
	(893) 154
	- 2 (20) (29)
	(20) (27)
	- - (23) (11) - (1,102)
	(23) (1,113)
	(936) (986) 523 1,245 401 (559)
	(12) (300)

The Consolidated Statement of Cash Flows is to be read in conjunction with the Notes to the Financial Statements.

CPT Global Limited & Controlled Entities - Half-Year Report

Notes to the Financial Statements

HALF-YEAR ENDED 31 DECEMBER 2010

NOTE 1: BASIS OF PREPARATION OF THE HALF-YEAR FINANCIAL REPORT

The half-year consolidated financial statements are a general purpose financial report prepared in accordance with the requirements of the Corporations Act 2001 and Australian Accounting Standards AASB 134: Interim Financial Reporting. Compliance with Australian Accounting Standards ensures that the financial statements and notes also comply with International Financial Reporting Standards.

It is recommended that this financial report be read in conjunction with the annual financial report for the year ended 30 June 2010 and any public announcements made by CPT Global Limited and its Controlled Entities during the half-year in accordance with continuous disclosure requirements arising under the Corporations Act 2001.

The accounting policies have been consistently applied by CPT Global Limited and its Controlled Entities and are consistent with those applied in the 30 June 2010 Annual Report. The half-year report of CPT Global Limited and its Controlled Entities was authorised for issue in accordance with the resolution of directors on 28 February 2011.

The half-year report does not include full disclosures of the type normally included in an annual financial report.

	Consolidated	Consolidated
	31 Dec 10	31	Dec 09
	$000		$000
NOTE 2: DIVIDENDS
Distributions paid
(a) Aggregate dividends payable
Declared interim fully franked ordinary dividend of 1.5 (2009: 0.0) cents per share
franked at the tax rate of 30% (2009: 30%).	551		-
(b) Aggregate dividends declared and paid not previously recognised as a
liability
Final fully franked ordinary dividend of 0.0 (2009: 3.00) cents per share franked at
the tax rate of 30%	-		1,102
	551		1,102

NOTE 3: CONTINGENT ASSETS AND LIABILITIES

Since the last annual reporting date, there has been no material change of any contingent liabilities or contingent assets.

NOTE 4: BORROWINGS

The economic entity has a financing facility of $2,997,000 provided by its bank on an ongoing basis. The financing facility is secured by a first registered company charge (mortgage debenture) over the carrying value of the total assets of the parent entity. Interest is charged at 1.0% above the reference rate. At the end of the reporting period an amount of $732,000 of this facility was utilised.

Covenants imposed by the bank requires a working capital ratio for each financial half year to be not less than 2:1. As at December 31st, the economic entity achieved a working capital ratio of 1.99:1 and is in breach of this covenant. This covenant is currently under review by the economic entity and the bank.

CPT Global Limited & Controlled Entities - Half-Year Report

NOTE 5: OPERATING SEGMENTS

Segment Performance

Segment Performance
REVENUE External Sales Reconciliation of segment revenue to group revenue - Miscellaneous Revenue Total Group Revenue	Australia	Europe	United States	Consolidated
	Dec-10 Dec-09 $’000 $’000	Dec-10 Dec-09 $’000 $’000	Dec-10 Dec-09 $’000 $’000	Dec-10 Dec-09 $’000 $’000
	14,099 13,944	2,904 2,933	2,541 1,838	19,544 18,715 11 122 19,555 18,837
Segment Gross Profit before tax	4,440 3,597	1,713 900	1,387 571	7,551 5,190
Reconciliation of segment result to group profit/loss before tax Unallocated Items - Overheads				6,490 (6,058)
Profit/ (Loss) before tax				1,061 (868)

Segment Assets

Segment Assets
	Australia	Europe	USA	Consolidated
	Dec-10 Dec-09 $’000 $’000	Dec-10 Dec-09 $’000 $’000	Dec-10 Dec-09 $’000 $’000	Dec-10 Dec-09 $’000 $’000
Segment Assets Segment asset increases for the period: - Capital Expenditure	6,131 5,050 22 28	1,915 2,705 - -	2,637 1,750 - -	10,683 9,505 22 28
	6,153 5,078	1,915 2,705	2,637 1,750	10,705 9,533
Reconciliation of segment assets to group assets Unallocated assets: - Goodwill - Property, plant & equipment - Other Assets				7,261 9,661 338 451 1,458 2,148
Total Group Assets				19,762 21,793

NOTE 6: SUBSEQUENT EVENTS

There have been no events subsequent to reporting date.

CPT Global Limited & Controlled Entities - Half-Year Report

Directors' Declaration

In accordance with a resolution of the directors of CPT Global Limited, I state that:

In the opinion of the directors:

(a) the financial statements and notes of the consolidated entity are in accordance with the Corporations Act 2001 including:
(i) give a true and fair view of the financial position as at 31 December 2010 and the performance for the half-year ended on that date of the consolidated entity; and
(ii) comply with Accounting Standard AASB 134 "Interim Financial Reporting" and the Corporations Regulations 2001; and
(b) there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

On behalf of the Board

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Gerard (Gerry) Tuddenham Managing Director

Melbourne, 21 February 2011

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Level 10, 530 Collins Street Melbourne VIC 3000

T +61 (0)3 8635 1800 F +61 (0)3 8102 3400

www.moorestephens.com.au

INDEPENDENT AUDITOR’S REVIEW REPORT

TO THE MEMBERS OF CPT GLOBAL LIMITED AND CONTROLLED ENTITIES

Report on the Half-Year Financial Report

We have reviewed the accompanying half-year financial report of CPT Global Limited and controlled entities (“the consolidated entity”) which comprises of the Statement of Financial Position as at 31 December 2010, the Statement of Comprehensive Income, Statement of Changes in Equity and Statement of Cash Flows for the half-year ended on that date, notes comprising of a summary of significant accounting policies, other selected explanatory information and the director’s declaration.

Directors’ Responsibility for the Half-Year Financial Report

The directors of CPT Global Limited (“the company”) are responsible for the preparation of the halfyear financial report in accordance with Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001 , and for such control as the directors determine is necessary to enable the preparation of the half-year financial report that is free from material misstatement, whether due to fraud or error.

Auditor’s Responsibility

Our responsibility is to express a conclusion on the half-year financial report based on our review. We conducted our review in accordance with Australian Auditing Standards on Review Engagements ASRE 2410 Review of a Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, anything has come to our attention that causes us to believe that the financial report is not presented fairly, in all material respects, in accordance with the Corporations Act 2001 including: giving a true and fair view of the company’s financial position as at 31 December 2010 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB 134 Interim Financial Reporting and the Corporations Regulations 2001 . As the auditor of CPT Global Limited, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

A review of a half-year financial report consists of making enquiries, primarily of persons responsible for financial and account matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Independence

In conducting our review, we have complied with the independence requirements of the Corporations Act 2001 .

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Conclusion

Based on our review, which is not an audit, nothing has come to our attention that causes us to believe that the half-year financial report of CPT Global Limited and controlled entities is not in accordance with the Corporations Act 2001 including:

(i) giving a true and fair view of the consolidated entity’s financial position as at 31 December 2010 and of its performance for the half-year ended on that date; and
(ii) complying with AASB 134: Interim Financial Reporting and the Corporations Regulations 2001.

Significant Uncertainty Regarding Accounting Estimate

Without qualification to the opinion expressed above, we draw attention to the following matter. The impairment analysis performed on the goodwill is based on a number of assumptions and accounting estimates whose outcome depends on future events. Given the current economic uncertainty, it is extremely difficult to forecast future cash flows with the degree of confidence required to be able to state that goodwill within the three Australian cash generating units (“CGU”) is fully recoverable at the amount disclosed in the financial report.

Notwithstanding the directors’ belief that the goodwill figure is fully recoverable, this matter indicates the existence of a material uncertainty which may cast doubt on whether the company will realise the value of goodwill at the amount disclosed in the financial report.

Matters Relating to the Electronic Publication of the Audited Financial Report

This review report relates to the financial report of CPT Global Limited and controlled entities for the period ended 31 December 2010 included on CPT Global Limited’s website. The company’s directors are responsible for the integrity of CPT Global Limited’s website. We have not been engaged to report on the integrity of the CPT Global Limited’s website. This review report refers only to the half-year report identified above. It does not conclude on any other information which may have been hyperlinked to/from this report. If users of the financial report are concerned with the inherent risks arising from publication on a website, they are advised to refer to the hard copy of the half-year financial report to confirm the information contained in this website version of the financial report.

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MOORE STEPHENS Chartered Accountants

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S. David Pitt Partner Melbourne, 21 February 2011

AI assistant

CPT GLOBAL LIMITED — Interim / Quarterly Report 2011

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