Final Results

Creightons PLC
29 July 2002

                                 Creightons Plc

                                ('the Company')

Chairman's Statement

Review of the year

This year has seen the Company consolidate its manufacturing operation on the
reduced Storrington site, ensuring that we can achieve improved product costs
through increased manufacturing efficiencies.

During the second half of the year, the directors took informal soundings in the
industry with a view to achieving a sale of the trading operation on a going
concern basis. The response to this was very disappointing indeed. No realistic
offers have been received to date. However, the Board will continue to market
the business until all viable possibilities have been exhausted.

Consequently, the Board has continued to focus on exploiting the Toiletries'
operation's product development strengths and expertise to develop and introduce
a number of new products in its Haircare ranges (including 'Just Blond', which
is achieving significant High Street listings and consolidating the Company's
reputation as an innovator and leader in the market place. A number of new
private label products have also been developed for some of our key customers,
replacing lower margin ones that the Company has discontinued.

The Board has been strengthened by the appointment in January of Mr Barnard
Johnson as an Executive Director. Mr Johnson has managed the Company's
day-to-day operations since early 2000. During this time he has over seen the
reduction of the Company's overhead costs to more sustainable levels, the
re-organisation of the manufacturing operations and resolution of the many
outstanding problems the Company had at that time.

The Board's strategy remains as stated in the open offer prospectus dated 15
February 2000. This strategy had been intended to involve entry into e-commerce.
However, as shareholders will be aware, this sector has proved to be
unattractive, and as stated in last year's report, the Board decided to seek
alternative opportunities which will benefit all Creightons' shareholders.
Developments in the economy and the general down-turn in the stock market have
meant that no suitable opportunities have, as yet, been available.

Consequently, although the process of seeking an alternative continues to take
longer than originally intended, the board believes that the best shareholder
value can be obtained in the short term by continuing to develop the Toiletries
business. If, however, the market, which is volatile at present, changes the
Company's trading position, the Board will move immediately to further
rationalise the business.

Financial results

Sales this year at £4,421,000 (2001: £4,404,000) are better than last year. The
Company has shed loss-making products and has concentrated on improved margin
branded products. It has also sought to eliminate marginally profitable private
label manufacture. The general economic environment has not been helpful, and
whilst aiming to reduce dependence on low margin products, the Company has had
to retain a proportion of these products to ensure adequate throughput in its
manufacturing operation.

The Company has been determined to achieve low-cost producer status and limit
overheads to the minimum required to provide customers with the quality of
service and delivery they require. To this end, further additional excess
manufacturing and warehousing capacity has been eliminated, with the facilities
released successfully rented out to generate additional rental income, thereby
maximising the Company's return on its assets.

As a consequence of the above factors, the Company has recorded and operating
loss of £78,000 which represents a significant improvement on the previous
year's operating loss of £217,000.

Current year developments

Among a number of business opportunities currently being progressed, the Company
is at present in the final stages of negotiating a contract for the development
and marketing of ranges of Haircare and Lifestyle Toiletries products with a
major Health and Fitness Centre operator. The Company is also seeking new and
innovative openings for joint ventures in both marketing and retail.

The Company continues to operate within its banking facility. Whilst I hope that
the economic down-turn experienced in the past nine months is short term, the
Company will continue to seek to mitigate any adverse economic pressures.

The Board would like to thank all its employees for their continued hard work
and dedication over the past year.





William McIlroy

Chairman

29 July 2002

Consolidated profit and loss account

for the year ended 31 March 2002
                                                                                         2002                       2001

                                                                                         £000                       £000

Turnover                                                                                4,421                      4,404

Cost of sales                                                                         (2,892)                    (3,092)

Gross profit                                                                            1,529                      1,312

Operating expenses                                                                    (1,682)                    (1,390)
Other operating income                                                                     75                         15
Exceptional operating costs                                                                 -                      (154)

Total operating expenses                                                              (1,607)                    (1,529)

Operating loss                                                                           (78)                      (217)

Exceptional income                                                                          -                        263

Net interest payable                                                                     (70)                      (145)

Loss on ordinary activities before taxation                                             (148)                       (99)

Tax on loss on ordinary activities                                                          -                          -

Loss on ordinary activities after taxation                                              (148)                       (99)

Retained loss for the year                                                              (148)                       (99)

Loss per share                                                                        (0.29p)                    (0.19p)

Loss per share before exceptional items                                               (0.29p)                    (0.40p)

The turnover and operating loss arose from continuing operation.

The Group had no gains or losses other than the above results.

There is no difference between the results shown above and their historical cost
equivalents.

Consolidated balance sheet

At 31 March 2002
                                                              2002                                 2001
                                                          £000                £000               £000               £000
Fixed assets
Tangible assets                                                              1,895                                 2,091

Current assets
Stocks                                                     645                                    579
Debtors                                                    822                                  2,036
Cash                                                        16                                      -
                                                     _________                                _______
                                                         1,483                                  2,615

Creditors: amounts falling due
within one year                                        (1,953)                                (3,117)

Net current liabilities                                                      (470)                                 (502)

Total assets less current liabilities                                        1,425                                 1,589

Creditors: amounts falling due after
more than one year                                                             (4)                                  (20)
                                                                          ________                              ________
Net assets                                                                   1,421                                 1,569
                                                                           =======                               =======
Capital and reserves
Called up share capital                                                        517                                   517
Share premium account                                                        1,185                                 1,185
Other reserves                                                                  38                                    38
Profit and loss account                                                      (319)                                 (171)

Equity shareholders' funds                                                   1,421                                 1,569


Balance sheet

at 31 March 2002
                                                                    2002                                 2001
                                                          £000                £000               £000               £000
Fixed assets
Tangible assets                                                              1,895                                 2,091
Investments                                                                     35                                    35

                                                                             1,930                                 2,126

Current assets
Stocks                                                     645                                    579
Debtors                                                    822                                  2,036
Cash                                                        16                                      -
                                                     _________                                _______
                                                         1,483                                  2,615
Creditors: amounts falling due
within one year                                        (1,988)                                (3,152)

Net current liabilities                                                      (505)                                 (537)

Total assets loss current liabilities                                        1,425                                 1,589

Creditors: amounts falling due after
more than one year                                                             (4)                                  (20)

Net assets                                                                   1,421                                 1,569

Capital and reserves
Called up share capital                                                        517                                   517
Share premium account                                                        1,185                                 1,185
Other reserves                                                               1,459                                 1,459
Profit and loss account                                                    (1,740)                               (1,592)

Equity shareholders' fund                                                    1,421                                 1,569


Statement of cash flows

for the year ended 31 March 2002
                                                                                               2002                 2001
                                                                     Notes                     £000                 £000

Cash flow from operating activities                                      1                    (224)                   41
Returns on investments and servicing of
finance                                                                  2                     (70)                (145)
Taxation                                                                                          -                    -
Capital expenditure and financial
investments                                                              3                    1,190                   62

Cash flow before management of
Liquid resources and financing                                                                  896                 (42)

Financing                                                                4                    (425)                (190)

Increase/(decrease) in cash in the year                                                         471                (232)

Reconciliation of net cash flow to
movement in net debt

Increase/(decrease) in cash in the year                                                         471                (232)

Cash outflow from repayment of debt                                                             425                  190

                                                                                                896                 (42)

New finance losses                                                                                -                 (15)

Movement in net debt in the year                                                                896                 (57)

Net debt at the start of the year                                                           (1,934)              (1,877)

Net debt at the end of the year                                                             (1,038)               (1,934

The preliminary statement of results has been agreed with the Company's
auditors, Chantrey Vallacott DFK, who have indicated that they will be giving an
unqualified opinion in their report on the statutory financial statements, which
will be dispatched to shareholders in due course.

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

Exceptional items
                                                                                              2002                  2001
                                                                                              £000                  £000
Exceptional income

Profit on disposal of land and buildings net of shareholder
circular costs and costs of moving production facilities                                         -                   263

Exceptional operating costs

Legal fees in respect of passing-off action                                                      -                   154

Loss per share

The calculation of the loss per share figure has been based on the loss after
taxation of £148,000 (2002: £99,000) and 51,691,387 (2001: £51,691,387) ordinary
shares, the weighted average of the number of shares in issue during the period.

Notes to Statement of cash flows

for the year ended 31 March 2002


 1. Reconciliation of operating loss to operating cash flows
                                                                                                  2002            2001
                                                                                                  £000            £000

    Operating loss                                                                                (78)            (217)
    Depreciation charges                                                                           246             293
    Loss or disposal of fixed assets                                                               (2)              63
    (Increase)/decrease in stocks                                                                 (66)             227
    (Increase)/decrease in debtors                                                               (125)              51
    (Decrease) in creditors                                                                      (199)            (376)

    Net cash (outflow)/inflow from operating activities                                          (224)              41

    Return on investments and servicing on finance
    Interest received                                                                                1               5
    Interest paid                                                                                 (60)            (145)
    Interest statement of HP payments                                                             (11)              (5)

    Net cash (outflow) for returns on investments and
    Servicing of finance                                                                          (70)            (145)

    Capital expenditure and financial investment
    Purchase of tangible fixed assets                                                             (53)             (22)
    Sale of property                                                                             1,240               -
    Sale of other tangible fixed assets                                                              3              84

    Net cash flow from capital expenditure and financial
    Investments                                                                                  1,190              62

    Financing
    Repayment of amounts borrowed                                                                (410)            (125)
    Capital element of HP payments                                                                (15)             (85)

    Net cash (outflow) from financing                                                            (425)            (190)






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