Final Results

Braime (T.F.& J.H.) (Hldgs) PLC
02 May 2008


At a meeting of the directors held here today, the accounts for the year ended
31st December 2007 were submitted and approved by the directors.  The
preliminary profits statement is as follows:

Chairman's statement

After two years of losses I am pleased to be able to report that the group made
a profit before tax of £138,057 (compared to a loss in 2006 of £116,200). Group
revenue increased in 2007 by 6.5% to £11,838,813 (2006 - £11,119,745).

The tax charge, payable on profits generated in the USA, reduces the profit
after tax to £9,264 (compared to a loss in 2006 of £187,376). Although the
result is very far from satisfactory, the turnaround in the operating profit is
in line with our forecasts and does represent a significant recovery from the
low point in 2005, when the after tax loss approached £300,000. Overall group
revenue for the first quarter of 2008 is running well ahead of 2007 and we
believe that the group is on course to make further progress in 2008.

However, the directors have very reluctantly decided that it would not be
prudent to pay a final dividend out of reserves, particularly given the strain
put on our resources as a result of the accumulated losses, in the period
2005-2006, which approached £500,000. The directors are acutely aware that there
has been no dividend for two years and the return to a regular payment of
dividends to shareholders is a key priority of the board.

Move to AIM

The resolution to transfer the listing of the company's shares from the Official
List to AIM was passed at a general meeting on 25th May 2007.  The transfer was
successfully completed on 27th June 2007.

Braime Pressings Limited

We continue to struggle to turnaround our manufacturing business. Progress has
been made in reducing our overhead costs and in increasing operating
efficiencies and the level of loss has been substantially reduced. However, the
fundamental problem of insufficient revenue volume remains with revenue up by
only 3.6% in 2007.

A major project, which would have fundamentally changed this situation and which
was scheduled to come on stream last July, was repeatedly postponed by late
changes in our customer's specifications. Start up is now planned for July 2008
but the long delay had a very serious negative impact on the 2007 result.

In December, a major customer, Electrolux announced the closure of its domestic
cooker plant in Spennymoor and the relocation of manufacturing to Poland. This
will have little effect on us in the current year and we have been offered the
opportunity to retain some of this business to the new Polish plant in 2009.
Meanwhile some replacement work has been recently secured from other customers.

Braime Elevator Components Limited

As part of the '4B' division, distributing specialised components to the bulk
material handling industry worldwide, the company had a successful year with
revenue up by 17.5%. Systems to monitor and help maintain the safe working of
process plant now form an important part of our product range and the company
benefited in 2007 from a major contract in this field.  We continue to invest in
new product development in order to maintain the growth in this sector of the
business.

The company is currently operating just below an ambitious revenue budget but we
are hopeful that the progress made in 2007 can be continued.

Sarl S.E.T.E.M (France and Germany)

Revenue increased by 14%, largely due to increased exports to Germany and other
European markets. The company made a small loss in 2007 but is currently trading
above budget and is forecast to make a positive contribution to group profit in
2008.

4B Elevator Components Limited (USA)

In spite of the fall in the value of the US dollar, which both reduced turnover
when expressed in sterling and reduced the margins on UK sourced products, the
company had an outstanding year. With costs largely maintained at 2006 levels,
an 11% increase in revenue resulted in a substantial increase in operating
profit.

Revenue in the first quarter of 2008 is well above that for the same period of
2007 and we are confident this subsidiary will have another good year.

4B Asia Pacific and 4B Africa

In February 2008, we formed a Thai based, but UK controlled subsidiary to
replace the sales agent and also set up a new 100% owned subsidiary, 4B Africa.
These are important regions for future revenue of material handling components
and can be best developed by having our own staff on the ground to provide
customer support.

Cash flow and debt

In 2007 the group invested £298,724 in property, plant and equipment, of which
£135,000 was financed through hire purchase contracts.

Although our bank overdraft remained largely unchanged from 2006, the amount of
borrowing under an invoice discounting scheme increased by £113,000  and our
hire purchase contract borrowings increased by £27,000 and there was cash
outflow of £177,000. This was caused by the capital investment, the small
increase in trade debtors due to the overall increase in turnover and, more
significantly, to a rise in group inventories of £338,000. Part of this increase
was due to an attempt to anticipate the recent surge in the price of raw
materials. The high level of inventories is an area to which the board is paying
particular attention.

We continue to operate within our borrowing facility  and our anticipation for
2008 is that the group will be cash positive.

Relocation

Our Hunslet Road site is being marketed by joint agents Knight Frank and Swift
Property Services. Not surprisingly, in view of the current economic situation,
we have as yet received a lot of interest but no offers based on the primarily
residential brief developed in conjunction with the planning officers of Leeds
City Council. However, we have a number of developers interested in a more mixed
development on the site and their ideas are being actively explored. Meanwhile
any decision on relocation to more cost effective premises has been put on hold.

Staff

The commercial pressures on the business and on our staff increase year by year
as a result of global competition. The future of the business depends on their
ability to respond positively to these pressures and we are grateful for their
ongoing support in this endeavour.

Outlook

The current state of the economy raises very considerable concerns, particularly
the sudden and dramatic global rise in the cost of raw materials, specifically
steel and oil based commodities (polyethylene and rubber), as these provide the
input for many of our products.

Nevertheless we believe that the group is relatively well positioned to cope
with these difficulties. 63% of group revenue is outside the UK and our main
markets are focused on both the capital investment and the maintenance of the
production, storage and handling of food or industrial raw material, two of the
main sectors actually strongly benefiting from today's economic situation.

The prospects for our UK based manufacturing business are reliant on the
successful introduction of current projects which will finally inject the volume
on which depends the turnaround of this business.

Overall the group is forecast to make further progress in its recovery in 2008
and at the end of the first quarter, the group is ahead of forecast.

 Consolidated Income Statement for the year ended 31st December 2007 (audited)


                                                                                     Note        2007         2006
                                                                                                    £            £
Revenue                                                                                    11,838,813   11,119,745

Changes in inventories of finished goods and work in progress                                 304,567        4,676
Raw materials and consumables used                                                         (6,521,446)  (6,011,478)
Employee benefits costs                                                                    (3,253,886)  (3,225,406)
Depreciation expense                                                                         (168,183)    (125,623)
Other expenses                                                                             (2,032,513)  (1,887,710)

Profit/(loss) from operations                                                                 167,352     (125,796)

Finance costs                                                                                (321,762)    (282,913)
Finance income                                                                                292,467      292,509

Profit/(loss) before tax                                                                      138,057     (116,200)

UK corporation tax                                                                              5,449       12,800
Foreign corporation tax                                                                      (134,242)     (83,976)

Profit/(loss) for the year attributable to shareholders                                         9,264     (187,376)

Basic and diluted earnings/(loss) per share                                              1       0.01p       (13.0p)


Consolidated Statement of Recognised Income and Expense for the year ended 31st
                            December 2007 (audited)


                                                                                                  2007         2006
                                                                                                     £            £
Foreign exchange gains/(losses) on re-translation of overseas operations                        17,557      (35,370)
Actuarial gains recognised directly in equity                                                  118,000       73,000
Total income and expense recognised in equity                                                  135,557       37,630

Gain/(loss) for the year                                                                         9,264     (187,376)

Total recognised income and expense for the year attributable to equity shareholders of the    144,821     (149,746)
parent company



          Consolidated Balance Sheet  at 31st December 2007 (audited)


                                                               Note        2007         2007         2006         2006
                                                                              £            £            £            £
Assets
Non-current assets
Property, plant and equipment                                           862,998                   733,481
Employee benefits                                                        97,000                         -
Total non-current assets                                                            959,998                   733,481

Current assets
Inventories                                                           2,535,671                 2,197,922
Trade and other receivables                                           2,713,165                 2,611,737
Cash and cash equivalents                                             1,493,734                 1,629,317
Total current assets                                                              6,742,570                 6,438,976

Total assets                                                                      7,702,568                 7,172,457

Liabilities
Current liabilities
Bank overdraft                                                        1,387,668                 1,346,114
Trade and other payables                                              2,162,084                 1,846,792
Other financial liabilities                                             231,645                   182,292
Corporation tax liability                                                35,667                    33,063
Total current liabilities                                                         3,817,064                 3,408,261

Non-current liabilities
Financial liabilities                                                   337,354                   348,867
Employee benefits                                                             -                    12,000
Total non-current liabilities                                                       337,354                   360,867

Total liabilities                                                                 4,154,418                 3,769,128

Total net assets                                                                  3,548,150                 3,403,329

Capital and reserves attributable to equity holders of the parent
company
Share capital                                                                       360,000                   360,000
Capital reserve                                                                      77,319                    77,319
Foreign exchange reserve                                                             (8,992)                  (26,549)
Retained earnings                                                                 3,119,823                 2,992,559

Total equity                                                     2                3,548,150                 3,403,329



Consolidated Cash Flow Statement for the year ended 31st December 2007 (audited)


                                                               Note        2007         2007         2006         2006
                                                                              £            £            £            £
Operating activities
Net profit/(loss)                                                                      9,264                  (187,376)
Adjustments for:
Depreciation                                                            168,183                   125,623
Grants amortised                                                         (1,656)                    (1,656)
Foreign exchange gains/(losses)                                          19,535                   (34,791)
Investment income                                                      (292,467)                 (292,509)
Interest expense                                                        321,762                   282,913
Gain on sale of plant, machinery and motor vehicles                      (6,123)                   (9,394)
Income tax expense                                                      128,793                    71,176
Operating profit before changes in working capital and provisions                    338,027                   141,362

Increase in trade and other receivables                                (153,188)                 (726,998)
(Increase)/decrease in inventories                                     (337,749)                  144,441
Increase in trade and other payables                                    327,326                   982,205
Decrease in provisions and employee benefits                             35,000                    36,000
                                                                                    (128,611)                  435,648

Cash generated from operations                                                       218,680                   389,634

Income taxes paid                                                                   (131,397)                  (71,146)

Investing activities
Purchases of plant, machinery and motor vehicles                       (163,474)                 (142,730)
Sale of plant, machinery and motor vehicles                              10,375                    30,308
Interest received                                                        59,467                    48,509
                                                                                     (93,632)                  (63,913)

Financing activities
Repayment of hire purchase creditors                                    (56,026)                  (40,999)
Interest paid                                                          (114,762)                  (87,913)
                                                                                    (170,788)                 (128,912)
(Decrease)/increase in cash and cash equivalents                                    (177,137)                  125,663
Cash and cash equivalents, beginning of period                                       283,203                   157,540
Cash and cash equivalents, end of period                                             106,066                   283,203



Notes

1.  Earnings per share and dividends

Both the basic and diluted earnings per share have been calculated using the net
results attributable to shareholders of T.F. & J.H. Braime (Holdings) P.L.C. as
the numerator.

The weighted average number of outstanding shares used for basic earnings per
share amounted to 1,440,000 (2006 - 1,440,000).  There are no potentially
dilutive shares in issue.

During the twelve months to 31st December 2007, T.F. & J.H. Braime (Holdings)
P.L.C. paid dividends of £Nil to its equity shareholders (2006 - £Nil).


2.  Changes in shareholders' equity                                                                   2007         2006
                                                                                                         £            £
    Total recognised income and expense                                                            144,821     (149,746)

    Capital and reserves attributable to equity holders of the parent company at the             3,403,329    3,553,075
    beginning of the period

    Capital and reserves attributable to equity holders of the parent company at the end of the  3,548,150    3,403,329
    period


3.  Cash and cash equivalents                                                                         2007         2006
                                                                                                         £            £
    Cash at bank and in hand                                                                     1,493,734    1,629,317
    Bank overdrafts                                                                              1,387,668    1,346,114
                                                                                                   106,066      283,203

4.  Major non-cash transaction

During the year the group acquired £135,250 (2006 - £Nil) of tangible assets
under hire purchase agreements.

5.  Basis of preparation

The results incorporated in the preliminary announcement have been prepared in
accordance with International Financial Reporting Standards (IFRS and IFRIC
interpretations) issued by the International Accounting Standards Board (IASB)
as adopted by the EU and with those parts of the Companies Act 1985 applicable
to companies preparing their accounts under IFRS.

The financial information set out above does not constitute the company's
statutory accounts for the years ended 31st December 2007 or 2006.  Statutory
accounts for 2006 have been delivered to the Registrar of Companies.  The
statutory accounts for 2007 will be delivered to the Registrar of Companies
following the company's annual general meeting.  The auditors have reported on
the 2007 and 2006 accounts; their reports were unqualified, did not include
references to any matters to which the auditors drew attention by way of
emphasis without qualifying their reports and did not contain a statement under
S237(2) or (3) of the Companies Act 1985.



D. H. Brown
Company Secretary
T.F. & J.H. Braime (Holdings) P.L.C.


2nd May 2008


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