Interim Results

Heavitree Brewery PLC
29 June 2001


The Heavitree Brewery Plc


UNAUDITED INTERIM RESULTS
For the six months ended 30 April 2001



These Results have today been distributed to all shareholders.  Copies can be
obtained from the Registered Office, Trood Lane, Matford, Exeter EX2 8YP.

The Group carries on the business of the operation of public houses.


                                                               2001       2000
                                                              £'000      £'000

Turnover                                                       4704       4514

Operating profit/(loss)               (Note 1)
Holding Company                                                 663        845
Subsidiary Companies
-         Heavitree Inc.                                         (3)       (18)
-         Heavitree Inns                                       (202)      (175)
                                                                458        652

Profit on Sale of Tangible Fixed Assets                         278        186
                                                                736        838
Net Interest Payable                                           (115)       (89)

Profit on ordinary activities before tax                        621        749

Taxation                                                       (164)      (227)

Profit attributable to shareholders                             457        522
Dividends:
    -     Non-Equity Interest:
            Preference Shares                                    (1)        (1)
    -     Equity Interest
            Ordinary Shares           (Note 2)                 (203)      (207)
Retained profit                                                 253        314


Earnings per share                                              7.8p       8.7p



Notes:



1.         All figures are in respect of continuing operations.



2.         The Interim Dividend of 3.5p per share will be paid on 27 July,
2001, to shareholders registered at the close of business on 13 July, 2001.






By order of the Board
G J Crocker
Director and Company Secretary



Half Year's Results



Group Turnover has increased by 4.2% to £4.7 million.



Group Profit Before Tax is down 17.1% at £621,000, a fall of £128,000.  The
main factor was an increase in repairs costs of £162,000.  Against this,
Profit on Sales of Fixed Assets were £278,000 compared to £186,000 for the
same period last year.



Heavitree Inns (managed houses) has contributed a loss of £202,000, some 
£27,000 worse than this time last year.  However, signs of a real recovery here
are now appearing.  Figures for April and May are both better.



Foot and Mouth Disease is having a marked effect on two of our managed pubs
and no end to this plague is yet in sight.  Some of the Tenanted house as well
may lose trade from this cause as the summer goes on.



The fight to regain the lost profit has made a good start.  We are confident
that it can be won with the main problems now identified and being tackled.



The final cost of the superannuation difficulty cannot yet be given.  A
Schedule of Contributions has been agreed with the Scheme's Actuary and
payments are being made accordingly.  Superannuation costs in the period under
review are £119,000 (2000:  £99,000).



An interim dividend of 3.5p per Ordinary and 'A' Limited Voting Ordinary Share
the same as last year, will be paid.  Cover for this is 2.25 times.





W.P. Tucker
Chairman


29 June 2001



END