Interim Results

Heath(Samuel) & Sons PLC
14 December 2006


                            Samuel Heath & Sons plc



                                 Interim Report

                   for the half year ended 30 September 2006





                                                                14 December 2006





GROUP PROFIT AND LOSS ACCOUNT



The results of the Group for the half year ended 30 September 2006 which have
been neither audited nor reviewed by our external auditors were as  follows :-


                                                                                   Restated
                                                                Half-year         Half-Year             Year
                                                                    ended             ended            ended
                                                             30 September      30 September         31 March
                                                                     2006              2005             2006
                                                                   £000's            £000's           £000's


TURNOVER                                                            6384              5674            11677

                                                                   ======            ======           ======


GROUP PROFIT before taxation                                         755               592             1438
Deduct : Estimated corporation tax                                   227               178              375

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


GROUP PROFIT after taxation                                          528               414             1063
Deduct : Dividends                                                   318               216              496

                                                                   ------            ------           ------
                                                                     210               198              567

                                                                   ======            ======           ======


*Earnings per share - Basic & Diluted                               20.8p             16.3p            41.7p
                                                                   ======            ======           ======



*Earnings per share are based upon 2,541,266 ordinary shares, being the average
number of ordinary shares in issue during this half year (2005: £414,000 related
to 2,546,818 ordinary shares).



An interim dividend of 11.0 pence per share is proposed (2005:11.0 pence per
share) and will be payable on 30 March 2007 with a record date of 2 March 2007.





CHAIRMAN'S STATEMENT



The Company made a profit before taxation in the first six months of our trading
year to 30 September  2006 of £755,000.This we consider to be very satisfactory
in far from ideal trading conditions. Prices of raw materials show no signs of
easing, with zinc and nickel joining copper at very high levels. Whilst our
customers have been persuaded that the increased prices for our goods are
unavoidable, it is not at all clear what effects this will have with the
eventual purchaser.



We are proposing a same again interim dividend of 11.0 pence per share.



The second half has continued like the first, up to the present time. However we
are not achieving our budgeted sales figures. The falling dollar will also cause
us problems. The final outcome for the year is therefore a long way from being
assured.





GROUP BALANCE SHEET


                                                                           30 September    30 September        31 March

                                                                                   2006            2005            2006
                                                                                 £000's          £000's          £000's
Tangible Fixed Assets                                                             3267            2873            3211

                                                                                 ======          ======          ======


Current Assets                                                                    6682            6609            7036

Creditors                                                                        (1277)          (1363)          (1945)

                                                                                 ------          ------          ------
Net Current Assets                                                                5405            5246            5091

                                                                                 ======          ======          ======


Total Assets Less Current Liabilities                                             8672            8119            8302

Provision for Liabilities and Charges                                            (1094)          (1866)          (1206)

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

                                                                                  7578            6253            7096

                                                                                 ======          ======          ======
CAPITAL AND RESERVES
      Called up Share Capital                                                      254             255             255
      Other Reserves                                                              7324            5998            6841

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

                                                                                  7578            6253            7096

                                                                                 ======          ======          ======



This interim report does not constitute statutory accounts of the group within
the meaning of section 240 of the Companies Act 1985.  Statutory accounts for
the year ended 31 March 2006 have been filed with the Registrar of Companies.
The Auditors' report on those accounts was unqualified and did not contain a
statement under section 237 of the Companies Act 1985.



A copy of this announcement will be sent to all ordinary shareholders.  Further
copies are available to members of the public from the Company's registered
office.



The interim financial statements have been prepared in accordance with
applicable accounting standards. The accounting policies applied are those set
out in the Annual Report and Accounts for the year ended 31 March 2006.





GROUP CASH FLOW STATEMENT


                                                           Half-year ended   Half-year ended             Year
                                                              30 September      30 September            ended
                                                                      2006              2005         31 March
                                                                                                         2006
                                                                    £000's            £000's           £000's


Operating profit                                                      709               530             1340
Depreciation charges and loss/surplus on disposals                    252               223              435
Movement in working capital                                         (1147)              (43)            (541)
                                                                    ------            ------           ------

Net cash inflow from operating activities                            (186)              710             1234



Net cash inflow from returns on investments and                        46                62              121
servicing of finance


U.K. Corporation Tax paid                                               -                (7)            (157)


Capital expenditure
Purchase of tangible fixed assets                                    (308)             (355)            (618)
Sale of tangible fixed assets                                           -                15               45


Net cash outflow for capital expenditure                             (308)             (340)            (573)


Management of liquid resources
Movement  in short-term deposits                                      445              (289)             (21)


Equity dividends paid                                                (318)             (216)            (496)

                                                                    ------            ------           ------
Increase/(decrease) in cash                                          (321)              (80)             108

                                                                    ======            ======           ======




Operating cash flow

Opening cash                                                         2691              2562             2562
Movement in cash                                                     (321)              (80)             108
Liquid resources movement                                            (445)              289               21
Closing cash                                                         1925              2771             2691
                                                                    ======            ======           ======



On behalf of the Board



S.B. Heath

Chairman


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