Preliminary Notice of Results

Heavitree Brewery PLC
13 February 2004

The Heavitree Brewery PLC
Trood Lane
Matford
Exeter
Devon  EX2 8YP

Telephone: [phone]
Contact: Mr G.J.Crocker - Finance Director & Company Secretary
         Mr R.J.Glanville - Director
Date: 13 February 2004

Preliminary Notice of Results

Following a Board Meeting held today, 13 February 2004, the Directors announce
the results and dividends for the year ended 31 October 2003.

These figures do not constitute full accounts within the meaning of S.240 of the
Companies Act 1985. They have been extracted from the statutory accounts for the
year ended 31 October 2003, on which the auditors have issued an unqualified
audit report. The statutory accounts have not yet been delivered to the
Registrar of Companies.
                                                                2003                   2002
                                                                £000                   £000

Turnover                                                        12309                  11911

Operating Profit                                                1381                   875

Profit on sale of tangible fixed assets                         104                    279
Income from other fixed asset investments                       12                     11
Net interest payable                                            -247                   -192

Profit on ordinary activities before tax                        1250                   973
Taxation                                                        -218                   -247

Profit attributable to shareholders                             1032                   726

Dividends
Non-equity (Preference Shares) - paid                           -1                     -1
Equity (Ordinary and 'A' Limited Voting
Ordinary Shares) - paid                                         -201                   -209
Equity (Ordinary and 'A' Limited Voting
Ordinary Shares) - proposed                                     -327                   -313
Less dividends on shares held within
Employee Share Schemes                                          22                     22

Retained profit                                                 525                    225


Basic and Diluted Earnings per share                            18.6p                  12.8p



All figures are in respect of Continuing Operations

Dividends:

The Directors propose a 9.5% increase in the final dividend to 5.75p per share
(2002 - 5.25p) on the Ordinary and 'A' Limited Voting Ordinary Shares making a
total of 9.25p per share (2002 - 8.75p) for the year. If approved at the Annual
General Meeting due to be held on 02 April 2004, this dividend will be paid on
07 April 2004 to shareholders on the register at 27 February 2004.

13 February 2004

Ends.




                      This information is provided by RNS
            The company news service from the London Stock Exchange