Final Results

Buckland Group PLC
08 July 2003



                               Buckland Group plc

                                 ('the Group')

            Preliminary results for the year ended 31 December 2002


Chairman's Statement for the year ended 31 December 2002

I am pleased to present the financial results for Buckland for the year ended 31
December 2002. The results show a profit before tax of £122,007. The loss before
tax of £85,880 in 2001 was after charging exceptional costs of £100,286 relating
to the closure of the Group's former operations in France. Sales for the year
were £4,791,475 (2001: £5,807,836). The earnings per share were 0.101p per share
(2001: 0.56p loss per share). No dividend is proposed.

Review of 2002

Trading

Euro Asia Connectors

The trading results for 2002 reflect for the first full year the benefits of the
extensive restructuring of the Group's operations over the last few years and
the closure of all activities in France. Our principal product lines during the
year continued to be CRT sockets and SCART connectors with a small but growing
contribution from power input sockets. At the end of the year we introduced a
new range of SCART adaptors for use with LCD televisions.

The reduction in turnover to £4.6m reflects continuing price erosion in the
consumer electronics industry on largely unchanged volumes. The conventional
computer monitor market using CRT sockets is now beginning to decline more
significantly as new flat screen technology products start to fall rapidly in
price. However the demand for CRTs for colour televisions is still holding up
well and sales of SCART connectors continue at satisfactory levels

Since the year end we have closed the original assembly plant in Bangkok and
relocated it adjacent to the stamping, surface treatment and moulding
operations. With all the manufacturing operations now under one roof, we expect
to be able to achieve further operating and working capital benefits to help
offset the continuing pressure on selling prices.

Derlite

On the 22nd October 2002 we acquired the business of Derlite, a long established
manufacturer of spark ignition electrodes used in gas cookers and ovens, gas
boilers and fires, and various other gas appliances. This gives the Group an
important opening into the consumer appliances industry, either directly or via
sub-system manufacturers. Derlite supplies the majority of the major gas
appliance manufacturers in Europe and the USA.

For the two months to the end of December, Derlite made a pre-tax contribution
of £29,000 on sales of £214,000. Apart from giving us access to a new industry,
the other principal rationale for acquiring Derlite was to substantially reduce
its cost base by relocating its assembly operations from the United Kingdom to
Thailand and then to use that lower cost base to grow the business more
aggressively.

Between January and April of 2003 the transfer of all Derlite's production from
Bodmin to Bangkok was achieved in phases and the company is now beginning to
expand its sales by taking on new customers and product lines.

Balance Sheet

In March and April of 2002 the Group's financial position was strengthened
greatly by the issue of 123 million new ordinary shares at 0.75 pence each to
raise approximately £870,000 net of expenses.

Outlook

The continuing downward pressure on selling prices means that in 2003 Euro Asia
Connectors will see a further decline in sales value. Although the resultant
pressure on margins should be in part offset by reduced operating costs, we
expect to see a reduction in its net profit contribution. However we expect
Derlite to provide a strong contribution in the second half of the year in part
from its lower cost base in Thailand and in part from an increase in sales to
existing and new customers.

With all of Euro Asia Connectors' and Derlite's manufacturing operations now on
one site in Thailand, we continue to look for further opportunities to develop
the Group by acquisition.




Patrick Rogers
Chairman



8 July 2003



Consolidated profit and loss account for the year ended 31 December 2002

                                  Year ended                    Year ended
                                 31 December                   31 December
                                        2002                          2001

                        £                £            £                £



Turnover

Continuing      4,577,349                     5,137,362
operations

Acquisitions      214,126                             -

Discontinued            -                       670,474
operations       ----------                     ---------

                                 4,791,475                     5,807,836

Cost of                         (3,941,341)                   (4,559,351)
sales

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

Gross profit                       850,134                     1,248,485



Administrative                    (810,670)                   (1,168,072)
expenses

Other                              105,723                        97,677
operating                         ----------                     ---------
income



Operating
profit

Continuing        116,142                       588,844
operations

Acquisitions       29,045                             -

Discontinued            -                      (410,754)
operations       ----------                     ---------

                                   145,187                       178,090



Exceptional                              -                      (100,286)
item



Interest
payable and
similar
charges

Continuing        (23,180)                      (56,774)
operations

Discontinued            -                      (106,910)
operations       ----------

                                   (23,180)                     (163,684)
                                  ----------                     ---------

Profit/(loss)                      122,007                       (85,880)
on ordinary
activities
before
taxation



Tax on profit                       (6,535)                            -
on ordinary                       ----------                     ---------
activities



Retained                           115,472                       (85,880)
profit/(loss)                     ==========                     =========
transferred to
/(from)
reserves



Earnings per                         0.101p                       (0.093p)
ordinary
share, before
Exceptional
item

Basic



Earnings/                            0.101p                        (0.56p)
(loss) per
ordinary
share, after
Exceptional
item

Basic


Consolidated balance sheet at 31 December 2002

                                 At                            At
                         31 December 2002               31 December 2001

                        £             £                £                £

Fixed
assets

Intangible                      436,658                            81,483
assets

Tangible                        360,147                           630,354
assets                          --------                          --------

                                796,805                           711,837



Current
assets

Stocks            629,889                        738,280

Debtors           847,486                        779,129

Cash at bank      177,966                         87,304
and in hand       --------                       --------

                1,655,341                      1,604,713



Creditors:     (1,485,926)                    (1,999,335)
amounts          --------                       --------
falling due
within one
year



Net current                     169,415                          (394,622)
assets/                         --------                          --------
(liabilities)



Total assets                    966,220                           317,215
less current
liabilities



Creditors:                      (79,234)                         (122,286)
amounts                         --------                          --------
falling due
after more
than one
year



                                886,986                           194,929
                                ========                          ========



Capital and
reserves

Called up                     2,157,752                         1,540,900
share
capital

Share premium                   712,775                           459,993
account

Profit and                   (1,983,541)                       (1,805,964)
loss                           --------                          --------
account



Equity                          886,986                           194,929
shareholders'                   ========                          ========
funds



Consolidated cash flow statement for the year ended 31 December 2002

                                             Year ended       Year ended
                                            31 December      31 December
                                                   2002             2001

                                                    £                £



Net cash (outflow)/inflow from operating     (192,979)       1,025,157
activities (see below)

Returns on investments and servicing of       (23,180)        (163,684)
finance

Taxation                                            -           10,518

Capital expenditure                           (74,404)         (81,789)

Acquisitions and disposals                   (242,363)               -
                                              ---------        ---------



Cash (outflow)/ inflow before management of  (532,926)         790,202
liquid resources and financing



Financing                                     663,783         (739,076)
                                             ---------        ---------



Increase in cash                              130,857           51,126
                                             =========        =========



Reconciliation of net cash flow to movement
in net funds

Increase in cash in the period                130,857           51,126

Cash outflow from decrease in debt            205,851          746,699
                                             ---------        ---------

Change in net debt resulting from cash        336,708          797,825
flows



Loan notes issued                             (90,000)               -

Finance leases acquired                       (23,132)               -

Exchange movement                               4,077           27,025

Write down of loans during period                   -          266,441
                                             ---------        ---------

Movement in net debt in the period            227,653        1,091,291



Opening net debt                             (485,118)      (1,576,409)
                                             ---------        ---------



Closing net debt                             (257,465)        (485,118)
                                             =========        =========



Reconciliation of operating profit to net
cash (outflow)/inflow from operating
activities

Operating profit                              145,187          178,090

Depreciation                                  320,760          334,289

Amortisation of goodwill                        7,985           41,441

Loss/(profit) on sale of fixed assets               9           (3,157)

(Increase)/decrease in stocks                 (78,381)         177,785

(Increase)/decrease in debtors               (125,533)         651,043

Decrease in creditors                        (463,006)        (253,663)

Redundancy costs                                    -         (100,671)
                                             ---------        ---------



Net cash (outflow)/inflow from operating     (192,979)       1,025,157
activities                                   =========        =========



Notes:



 1. Statutory accounts

    The financial information presented does not constitute statutory accounts
    as defined in Section 240 of the Companies Act 1985. The results have been
    extracted from the accounts of the Group for the year ended 31 December
    2002. The accounts, on which the auditors have issued an unqualified report,
    will be sent to shareholders and delivered to the Registrar of Companies in
    due course.

 2. Earnings per ordinary share

    The calculations of basic earnings per share are based on the profit for the
    year attributable to ordinary shareholders of £115,472 (2001: £14,406)
    before Exceptional Items and the profit of £115,472 (2001: loss £85,880)
    after Exceptional Items and a weighted average number of shares in issue
    during the year of 113,932,623 (2001: 15,409,000).

 3. Dividends

    The Directors are not proposing that a dividend payment be made.

 4. Annual General Meeting

    Notice is hereby given that the Annual General Meeting of Buckland Group plc
    will be held at Seymour Pierce Limited, Bucklersbury House, 3 Queen Victoria
    Street, London EC4N 8EL on Thursday 7 August 2003 at 11.00 a.m.






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