Prpsd Acqn/Final Rslts-Rplcmt

Sirdar PLC
14 September 2000


The issuer has made the following amendment to the 'Proposed Acquisition/Final
Results' announcement released today at 8:08 under RNS No 9160Q.

The taxation figure for the year ended 30 June 2000 should read £1,776,000 and
not £1,176,000 as previously stated.

All other details remain unchanged.

The full corrected version is shown below.




                        SIRDAR PLC
                            
     PROPOSED ACQUISITION OF RYALUX CARPETS LIMITED
                            
                           AND
                            
           ANNOUNCEMENT OF PRELIMINARY RESULTS
                            
             FOR THE YEAR ENDED 30 JUNE 2000
                            

Acquisition highlights:

-      Proposed   Acquisition  of  Ryalux   for   a   net
  consideration of £25.0m.

-    Gross consideration of £26.56m payable in Loan Notes
  (£26.46m) and cash (£0.10m). Vendor to retain £1.56m of
  personal  assets  for £1.56m cash paid  to  Company  on
  Completion.

-     Ryalux  is a well established manufacturer of  wool
  rich carpets based in the North of England, with a number
  of well known brands, aimed at the middle to top end of
  the domestic market.  In the year ending 31 December 1999
  turnover was £35.1 million.

-     Proposed Acquisition is the first major step in the
  implementation of the strategic refocusing of the Group's
  activities to concentrate on the manufacturing of floor
  coverings and also specialist yarns.

-      The   Directors  expect  the  Acquisition  to   be
  immediately earnings enhancing.


Preliminary results highlights:

-    Profit before tax and exceptionals £5.9m (1999:
  £5.6m).

-    Operating profit before exceptionals £6.0m (1999:
  £5.8m).

-    Adjusted earnings per share 8.6p (1999: 7.6p).

-    Successful disposal of Eversure Textiles, the loss
  making subsidiary.

Gerry Lumb, Chairman of Sirdar, commented:

'The  Group is in a strong position and with the exciting
prospect of the acquisition of Ryalux the Board considers
the  Group is well placed to make progress in pursuit  of
its declared strategy.

This acquisition will widen the overall product offerings
to  span  both  the commercial and domestic  markets  and
provide the opportunity to exploit the combined expertise
and  resources  of  both companies in  design  and  brand
development.'

For further information contact:

Sirdar PLC
Gerry Lumb                    01924 371501

Dresdner Kleinwort Benson
Richard Scholes                    020 7623 8000


Dresdner  Kleinwort  Benson, which is  regulated  by  The
Securities  and Futures Authority Limited, is acting  for
Sirdar PLC in relation to the transaction and no one else
and  will not regard any other person as its customer nor
be  responsible  to  anyone other  than  Sirdar  PLC  for
providing  the  protections  afforded  to  customers   of
Dresdner  Kleinwort  Benson nor for providing  advice  in
relation  to the contents of this document or any  matter
referred  to  herein.  This summary  should  be  read  in
conjunction  with  the full text of  the  attached  press
release.

PART I: PROPOSED ACQUISITION OF RYALUX LIMITED

Introduction

The  Board  announced  today  that  Sirdar  has  agreed,
subject to Shareholder's approval, to acquire Ryalux,  a
well  established, privately owned carpet  manufacturer.
The  gross  consideration payable  upon  Completion  for
Ryalux's  share capital (inclusive of assets  for  which
one  of  the  Vendors will pay £1.56 million immediately
following Completion) is £26.56 million, of which £26.46
million will be paid in Loan Notes and the balance  will
be paid in cash.

In  view  of  its size, the Acquisition is  conditional,
inter alia, on shareholder approval.
 
Strategic review

In   the   mid  1980's,  recognising  the  opportunities
available  in  the floor-coverings market, your  Company
acquired  Burmatex  Limited,  a  manufacturer  of  fibre
bonded,  tufted carpet and carpet tiles aimed mainly  at
the commercial market. In 1994, the Company strengthened
its  carpet tile product range with the addition of  the
Carpet  Tile Company.  Sirdar's Floor Coverings Division
now  offers  approximately 50  different  product  lines
primarily aimed at the contract flooring market.

Earlier  this  year,  the  Board  undertook  a  detailed
strategic   and  operational  review  of   the   various
businesses within the Group. The main conclusions of the
review were that the group should look to:

*    widen the floor coverings product portfolio, with a
particular focus on branding;
*     maintain  vertical integration in  the  yarns  and
floor coverings divisions;
*     focus  on  higher margin products  throughout  the
business; and
*    refocus the Group's activities so as to concentrate
on  the  manufacture of floor covering     products  and
also specialist yarns.
 
The  first  steps in the implementation of  this  review
were  the acquisition of Clutsom & Kemp, a yarn covering
business for £250,000 in March 2000 and the disposal  of
Eversure,  Sirdar's loss-making curtain and  accessories
business for £550,000 in June 2000.

For  the  year to 30 June 2000, sales in the  continuing
activities of the Sirdar Group comprised the manufacture
of  floor  coverings  54 per cent., the  manufacture  of
specialist yarns 35 per cent. and the operation of Cedar
Court, a four-star hotel in Bradford 11 per cent.  These
activities contributed £5.3 million (71 per cent.), £0.9
million (12 per cent.), and £1.3 million (17 per  cent.)
respectively to continuing operating profit in the  year
ended 30 June 2000.

The  acquisition of Ryalux which is now being  proposed,
represents a very significant acquisition for the  Group
and,   the   Board  believes,  provides  an   attractive
opportunity which may well not recur, towards fulfilling
the  objective of becoming one of the UK's leading floor
coverings businesses, with a portfolio of products  with
significant brand value.

Information on Ryalux

Ryalux is a well-established manufacturer of a range  of
predominantly wool-rich carpets with a number  of  well-
known  brands  aimed at the middle to  top  end  of  the
domestic market. Ryalux was founded by William Lomas  in
1970  with the Rya range of carpets. Since then,  Ryalux
has  successfully  developed a range of  products  which
includes  the  Rya,  Ryalux Bespoke  and  William  Lomas
brands. Considerable brand investment has also been made
in  recent  years  particularly in  the  Chatsworth  and
Victoria & Albert ranges. Ryalux's approach is to  offer
retailers  a  wide range of wool-rich  carpets  with  an
extensive line in plain and heather colours.

The Rya and Ryalux Bespoke ranges are aimed at the upper
price  range of the market while the William Lomas range
is targeted at the middle to upper market. Rya, the wool-
rich, flag-ship range, is made-to-order in any colour or
width up to five metres. The Ryalux Bespoke range offers
standard  colour  ranges  available  in  various   blend
options  and various widths. The William Lomas range  is
similar to Ryalux Bespoke but is only available in fixed
widths.

In  1995,  Ryalux  entered the patterned  carpet  market
under  the  Ryaweave brand, using Colortec machinery  to
produce  tufted  carpets.  In 1998,  however,  following
manufacturing difficulties and poor product  sales,  the
decision   was   made  to  refocus  on   Ryalux's   core
competencies  in the plain carpet market. As  a  result,
exceptional  costs  relating  to  the  closure  of  this
business adversely impacted the 1998 results.

In  recent years, Ryalux has made several investments to
improve  efficiency  and production flexibility  through
vertical integration. An in-house spinning plant in Bury
now  provides  approximately 50 per  cent.  of  Ryalux's
total yarn requirements. In February 1998, a yarn dyeing
operation was acquired which now satisfies the  majority
of Ryalux's yarn dyeing requirements.

Ryalux operates from six sites situated in the North  of
England.  As at 31 December 1999, it had 324  employees,
of which 233 were directly involved in manufacturing, 29
made  up  the  sales  force  and  62  were  involved  in
administration and support.

Reasons for the Acquisition

Although  the  domestic carpet industry in  the  UK  has
shown  little growth in recent years, demand has  tended
to  move away from patterned woven carpet towards plain,
wool-rich,  tufted  carpet.  Ryalux  occupies  a  strong
position  in this sector, reinforced by its  ability  to
produce  to  the exact colour and size specification  of
its customers, which is believed to be a service that is
unique in its scale.

The acquisition of Ryalux is expected to:

*    widen the combined product offerings, spanning both
commercial and domestic  market-places;

*     provide  the opportunity to exploit  the  combined
expertise  and  resources of the two       companies  in
design and brand development; and

*    give Sirdar and Ryalux access to each other's brand
management  expertise  and       market  knowledge;   it
should  also  provide the opportunity to  extend  Ryalux
branding to    certain other Group products.

Vertical  integration has been a key element of Sirdar's
strategy.  Ryalux is also a business which has benefited
from  vertical  integration and  consequently  will  fit
easily within Sirdar's current operational structure.

Financial information on Ryalux

The   table   below   sets   out  summarised   financial
information  for  Ryalux for the three  years  ended  31
December 1999.
                             
                  Year ended 31 December
                  1999       1998       1997
                 £'000      £'000      £'000
                                            
Turnover        35,116     33,901     32,168
Gross Profit     8,835      4,614      5,360
Operating        5,324      1,307      2,233
Profit
Net assets      13,379     10,624     10,400



The  improvement in gross profit in the  year  ended  31
December  1999, reflects a reduction in wool prices,  an
increase  in selling prices alongside a change in  sales
mix  and  an  increase in in-house spinning and  dyeing.
The  operating profit in the year ended 31 December 1998
was  adversely affected by the costs arising out of  the
closure  of the Colortec business, alongside other  non-
recurring items.

Your  Directors  believe that Ryalux represents  a  very
attractive  strategic  opportunity  for  your   Company.
Adjusted underlying earnings show sustained revenue  and
profit  growth  in  real  terms  while  there  has  been
significant brand investment and capital expenditure  in
recent years.

Terms of the Acquisition

Under  the  terms  of the Acquisition Agreement,  Sirdar
will  acquire Ryalux for a gross consideration of £26.56
million, of which £0.1 million will be paid in cash  and
£26.46 million in interest-bearing Loan Notes.

At  Completion,  one of the Vendors will purchase  £1.56
million  worth of assets of a personal nature for  £1.56
million  cash.  The net consideration at  Completion  is
therefore £25 million.

In order to finance the proposed Acquisition and provide
sufficient  working capital for the Enlarged Group,  the
Board  has  negotiated total banking facilities  of  £36
million  with  Barclays Bank Plc  to  replace  the  pre-
existing facilities of Sirdar and Ryalux.

Financial effects of the Acquisition

The Acquisition will give rise to an amount of goodwill,
approximately  £14.2 million, which will be  capitalised
and amortised over a period of 20 years.

The  Directors expect the Acquisition to be  immediately
earnings enhancing (after goodwill amortisation).

Management

The management board of Ryalux comprises six individuals
including  William  Lomas,  the  founder  and  executive
chairman   and  Duncan  Verity,  the  chief   executive.
Following completion, William Lomas will step down  from
the  board  of Ryalux, but will continue as an employee.
Duncan  Verity  is highly experienced  in  the  textiles
industry,  having been with Ryalux for 12  years  (chief
executive  since 1995) and having previously worked  for
other major companies in the same industry. He will join
the  Board  of  Sirdar  as Managing  Director  -  Ryalux
Division.   The remainder of the Ryalux management  team
will  remain  in  place  following  Completion  of   the
Acquisition.

Current trading and prospects

The Group's audited preliminary statement of results for
the  year ended 30 June 2000 is presented in Part  2  of
this announcement.

Trading in the first two months of the current financial
year  is  in  line with expectations. The management  of
Ryalux also confirm that current trading is in line with
expectations  and  consistent  with  the  good   results
achieved in the year ended 31 December 1999.

Although  the  domestic carpet industry in  the  UK  has
shown  little growth in recent years, demand has  tended
to  move away from patterned woven carpet towards plain,
wool-rich  tufted  carpet.   Ryalux  occupies  a  strong
position  in this sector, and your Directors believe  it
has  potential  for  further growth  in  domestic  floor
coverings.   Additionally,  with  exports   representing
approximately 5 per cent. of Ryalux's total sales,  your
Directors consider that further opportunities may  exist
in  Europe and particularly in the US, where the  market
is growing strongly and where further penetration may be
possible by partnering with a local distributor.

In  summary,  your Board feel that the  Group  is  in  a
strong  position and with the exciting prospect  of  the
proposed Acquisition of Ryalux, considers the Group well
placed  to  make  progress in pursuit  of  its  declared
strategy.

Articles of Association

The  Articles  of  Association of the Company  currently
limit  borrowings  to  twice the  Adjusted  Capital  and
Reserves  of  the  Group.  However,  the  definition  of
Adjusted   Capital  and  Reserves  excludes   intangible
assets.   On  a  pro-forma basis, this definition  would
limit  borrowings post the Acquisition to £28.3 million.
Accordingly,  in addition to the resolution  to  approve
the  proposed  Acquisition,  the  Directors  propose   a
resolution   to   include  intangible  assets   in   the
calculation of Adjusted Capital and Reserves.

Circular

It   is   expected  that  a  circular  to   Shareholders
(including a notice convening the Extraordinary  General
Meeting) will be posted as soon as practicable.

DEFINITIONS

The  following  words and expressions have the  following
meaning  in this announcement unless the context requires
otherwise.

'Acquisition'     proposed   acquisition  of   Ryalux   by
                  Sirdar,   pursuant  to  the  Acquisition
                  Agreement
                  
'Acquisition      the  conditional agreement  relating  to
Agreement'        the  acquisition  of  Ryalux  dated   13
                  September  2000 between the Company  and
                  the Vendors
                  
'Adjusted         the  adjusted  capital and  reserves  as
Capital and       defined  in  the Company's  Articles  of
Reserves'         Association and used for the purpose  of
                  the   calculation   of   the   cap    on
                  borrowings of the Company
                  
'Bank Facility    the   bank  facility  agreement  to   be
Agreement'        entered  into  between (1)  the  Company
                  (2)  Burmatex Limited and others and (3)
                  Barclays Bank Plc
                  
'Board' or        the directors of Sirdar
'Directors'
                  
'Completion'      Completion of the Acquisition  Agreement
                  in  accordance with its terms, which  is
                  expected to occur on 10 October 2000
                  
'Dresdner         Kleinwort Benson Limited
Kleinwort
Benson'
                  
'EGM' or          the  extraordinary  general  meeting  of
'Extraordinary    the  Company  to be held at the  offices
General Meeting'  of   Dresdner   Kleinwort   Benson,   20
                  Fenchurch  Street, London  EC3P  3DB  at
                  11.00  am  on  10 October 2000  (or  any
                  adjournment or postponement thereof)
                  
'Enlarged Group'  the    Group   as   enlarged   by    the
                  Acquisition
                  
'Group'           Sirdar and its subsidiary undertakings
                  
'Loan Notes'      the  £24,371,199  fixed rate  guaranteed
                  unsecured  'A'  Loan  Notes  2007,   the
                  £1,000,000    fixed   rate    guaranteed
                  unsecured  'B' Loan Notes 2007  and  the
                  £1,090,465    fixed   rate    guaranteed
                  unsecured 'C' Loan Notes 2007 issued  to
                  certain of the Vendors
                  
'Ordinary         ordinary  shares  of  25p  each  in  the
Shares'           capital of Sirdar
                  
'Ryalux'          Ryalux    Carpets   Limited   and    its
                  subsidiary undertakings
                  
'Shareholder(s)'  holder(s) of Ordinary Shares
                  
'Sirdar' or       Sirdar PLC
'Company'
                  
'Vendors'         those  persons described as such in  the
                  Acquisition Agreement

                            
PART 2: AUDITED PRELIMINARY RESULTS FOR THE YEAR ENDED
30 JUNE 2000
                           
CHAIRMAN'S STATEMENT

Group results

Group operating profit for the year to 30 June 2000 was
£6,049,000  compared with £5,849,000 for  the  previous
year, an increase of 3 per cent.  These results include
losses  at  Eversure Textiles to the date of  disposal,
which   if   excluded  show  profit   from   continuing
activities has recorded an underlying increase of 8 per
cent.   Cash  generated  from  operations  amounted  to
£9,100,000,  enabling  the Group  to  spend  a  further
£1,151,000  on repurchasing ordinary shares  and  still
reduce net borrowings by £2,861,000.

The   loss   on  disposal  of  Eversure  Textiles   was
£7,024,000,   however  this  included   an   accounting
adjustment   of   £4,662,000   relating   to   goodwill
previously written off; after this exceptional loss  on
disposal  and  interest  of  £193,000  the  Group   has
reported a pre-tax loss of £1,168,000.

The  loss per share was 6.19p compared to earnings last
year  of 7.96p.  After adjusting for exceptional items,
the  adjusted  earnings per share  increased  to  8.58p
compared with 7.63p last year, an improvement of 12 per
cent.

The  directors  are  recommending a final  dividend  of
3.85p,  representing a small increase  on  last  year's
figure of 3.80p.

Strategic review

During  the year the board undertook a strategic review
of  the Group's operations with the conclusion that the
Group should focus its activities on the manufacture of
floor covering products and also specialist yarns.  The
first  steps in the implementation of this review  were
the  acquisition  of Clutsom & Kemp,  a  yarn  covering
business,  in March 2000 and the disposal  of  Eversure
Textiles,   the   Group's  loss  making   curtain   and
accessories  business  in  June  2000.   The   proposed
acquisition  of Ryalux represents a further significant
step  towards  this strategy.  Details of the  proposed
acquisition  were  included in  the  circular  sent  to
shareholders recently.

Floor coverings

Despite  a  competitive  floor  coverings  market   and
continued  pressure on prices Burmatex increased  sales
by  8  per  cent.  with the Carpet Tile  Company  brand
performing particularly well.  The operating profit  of
£5,348,000 reflects a satisfactory improvement of 9 per
cent. in comparison with last year.

The  pressure  on  margins and  other  cost  increases,
including  a  significant increase in contributions  to
the  Group  pension  scheme,  have  been  mitigated  by
improvements   in  manufacturing  and  innovations   in
production,  including  in-line  tile  cutting.   These
changes have improved quality and reduced product  lead
times.

In  addition, improved stock availability  enabled  the
Company to ensure prompt delivery and maintain customer
loyalty,  which in turn protected the Company from  the
worst effects of competition from imports.

Hand knitting and machine yarns

Sales of hand knitting and machine yarns have increased
marginally, in part due to the acquisition of Clutsom &
Kemp.  This business has now been fully integrated into
this   division   and  has  already   made   a   modest
contribution to profit in the year.

Hand  knit  sales  reduced slightly in  line  with  the
overall  market  whereas machine yarn sales  under  the
Tilsa  brand  increased due to additional  business  in
Eire and North America.

Margins  have  improved due to control of raw  material
prices  and  other  costs and this has  resulted  in  a
substantial increase in operating profit from  £622,000
last year to £944,000 this year.

Hotel

The  Cedar Court Hotel performed well during  the  year
although, in common with much of the sector, trade over
the  Millennium  period  was a disappointment.   Static
sales  in  the  second half meant overall  turnover  of
£4,563,000  was  up 2 per cent. from  last  year.   The
results  of  the  hotel  were  adversely  affected   by
additional depreciation of £165,000 which was  required
by  a  new  Accounting Standard.   Without  this  extra
charge  the  current year operating profit  would  have
been just 3 per cent. behind last year.

Curtains and accessories

Whilst  turnover  declined  and  the  losses  continued
continue  at Eversure Textiles (operating loss,  before
central  Group costs, of £1,239,000 in the  period)  an
aggressive  stock reduction programme meant  that  this
business  contributed £439,000 to the Group's net  cash
inflow in the period up to its disposal for £550,000 in
June 2000.


The future

Sales  of floor coverings have started well in the  new
financial  year.  New products have been launched  and,
despite  continuing  competitive pressures,  management
anticipate  further  improvement  in  performance  this
year.

The  spinning division has now stabilised and,  despite
the continuing rationalisation of the UK customer base,
management  are confident of further growth in  machine
yarn  sales particularly in North America.   The  Board
approve  capital investment in Clutsom & Kemp  and  new
machinery has now been commissioned which will increase
both flexibility and capacity.

The  hotel has also had a better start to the year  and
advance bookings are healthy.

The Group is in a strong position and with the exciting
prospect  of  the proposed acquisition  of  Ryalux  the
Board  considers  the  Group is  well  placed  to  make
progress in pursuit of its declared strategy.


F G Lumb
Chairman
14 September 2000

                            
          CONSOLIDATED PROFIT AND LOSS ACCOUNT
             FOR THE YEAR ENDED 30 JUNE 2000
                            
                                   2000                 1999
                        £'000     £'000         £'000      £'000
                   Continuing  Discontinued     Total     
                                                            
Turnover               41,082     6,498        47,580     48,679
Operating costs                                41,531     42,830
                       33,761     7,770
Operating profit                                            
                        7,321   (1,272)         6,049      5,849
Loss on disposal of                           (2,362)          -
business                                      (4,662)          -
Goodwill written
back
                                                            
Loss on disposal of                                         
discontinued                                  (7,024)          -
operation                                          -         206
Profit on sale of                                           
property                                        (193)      (220)
Interest payable
(Loss)/profit                                 (1,168)      5,835
before taxation                                             
Taxation                                       1,776      1,602
(Loss)/profit for                             (2,944)      4,233
year
Interim dividend                                            
paid                                             906        912
     1.90p per
share (1999: 1.85p)
Final dividend                                              
proposed                                       1,780      1,818
      3.85p per
share (1999: 3.80p)
Preference dividend                                -          6
paid                                       _________  _________
Retained                                                    
(loss)/profit for                            (5,630)      1,497
the year
(Loss)/earnings per                                         
share                                                       
(Basic and fully                             (6.19)p      7.96p
diluted)
Adjusted earnings                                           
per share                                      8.58p      7.63p

There are no recognised gains or loses other than those
disclosed in the consolidated profit and loss account.

CONSOLIDATED BALANCE SHEET
FOR THE YEAR ENDED 30 JUNE 2000

                             2000                  1999
                          £'000      £'000     £'000      £'000
Tangible fixed                                                 
assets                              22,652               24,336
                                                               
                                                               
Current assets                                                 
Stocks                    9,935               12,436           
Debtors                   8,119                9,142
Cash at bank and in                                 
hand                        314                  239
                         18,368               21,817           
Creditors (due                                                 
within one year)         10,703               13,796
Net current assets                                             
                                     7,665                8,021
Total assets less                                              
current liabilities                 30,317               32,357
Deferred tax                                                   
                                       721                  773
                                                               
                                    29,596               31,584
                                                               
Equity                                                         
shareholders' funds
Called up share                     11,556               11,960
capital                                499                  421
Share premium                        2,395                1,938
account                                                        
Capital redemption                  15,146               17,265
reserve
Profit and loss
account
                                                               
                                    29,596               31,584

CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 30 JUNE 2000

                            2000                 1999
                         £'000     £'000      £'000     £'000
Net cash inflow                                              
from operating                     9,100               10,032
activities
Servicing of                                                 
finance
Interest paid            (193)                (258)          
Dividends paid on                                  
non-equity share             -                  (6)
capital
                                   (193)                (264)
                                                             
Corporation tax                  (1,220)              (2,187)
paid
                                                             
Capital expenditure                                          
Purchase of                                                  
tangible fixed         (1,062)              (1,181)
assets                                             
Sale of tangible           198                  728
fixed assets
                                   (864)                (453)
                                                             
Acquisitions and                                             
disposals
Acquisition of           (262)                    -          
business                                           
Disposal of                                        
subsidiary                  44                    -
undertakings
                                   (218)                    -
Equity dividends                                             
paid                             (2,724)              (2,994)
                                   3,881                4,134
                                                             
Financing                                                    
Issue of share             131                    -          
capital                (1,151)              (4,370)
Repurchase of share                                
capital                      -              (2,600)
Repayment of bank
loan
                                                             
                                 (1,020)              (6,970)
Increase/(decrease)                                          
in cash                            2,861              (2,836)

ANALYSIS OF RESULTS BY CLASS OF BUSINESS
FOR THE YEAR ENDED 30 JUNE 2000

                               Operating profit/(loss)
                                 before central group
                        Turnover          Costs           Net
                                                       operating
                                                         assets
                      2000     1999    2000    1999   2000   1999
                      £'000    £'000   £'000  £'000   £'000  £'000
                                                               
Floor coverings        22,023  20,445   5,348  4,910  8,416  8,757
Hand knitting and                                                 
machine yarns          14,496  14,170     944    622  13,034  12,649
Hotel                   4,563   4,465   1,299  1,503   9,424   9,876
                                                                  
Continuing             41,082  39,090   7,591  7,035  30,874  31,282
                                                                
Curtains and                                                      
accessories                                                       
(discontinued)          6,498   9,589  (1,239)  (906)      -   4,846
                                            
                       47,580  48,679   6,352  6,129  30,874  36,128
                                                
Central group costs                      (303)  (280)
Operating profit                        6,049  5,849              
Loss on disposal of                             
subsidiary                             (7,024)     -
Profit on sale of property                                            
by the hand knitting and  
machine yarns division                      -    206

                                        (975)  6,055              

Net interest                            (193)   (220)
                                                                  
                                      (1,168)  5,835
                                            

The results of the hand knitting and machine yarns division
include  turnover  of  £538,000 and operating  profit  of
£28,000 relating to the acquisition of Clutsom & Kemp.

Net  operating  assets are stated excluding inter-company
financing and are derived from the balance sheet total by
excluding  bank  borrowings totalling  £1,758,000  (1999:
£4,544,000)  and  excluding  deferred  consideration   of
£480,000 receivable on the disposal of Eversure Textiles.

NOTES

1.   The final dividend is payable on 27 November 2000 to
those  shareholders  on  the register  of  members  on  3
November 2000.

2.    The  above information has been extracted from  the
Group's full accounts upon which the auditors have  given
an  unqualified opinion. The full accounts will be  filed
with the Registrar of Companies in due course and will be
posted  to  all shareholders on 2 October 2000.   Further
copies  will  be available from the Company Secretary  at
the  registered  office  at Flanshaw  Lane,  Alverthorpe,
Wakefield, West Yorkshire, WF2 9ND.