Final Results - Year Ended 30 September 1999

YJL PLC
9 December 1999

                           YJL plc
                              
                 Preliminary Audited Results

YJL  plc,  the construction and property development  group,
announces preliminary audited results for the year ended  30
September 1999.

SUMMARY

*   Profit after tax £8.5m (1998: £3.2m loss)
   
*   Sale  of  Lovell Partnerships Limited during the  year
    achieved  a  profit  of £4.5m and considerably  aided  the
    reduction of the Group's debt

*   Increase in net asset value from £11.3m to £20.5m.

*   Year end net cash balance of £2.1m (1998: £10.8m debt).
    Total exposure to debt reduced to £3.3m (1998: £23.0m).


Commenting on the results, Cedric Scroggs, Chairman  of  YJL
plc, said:

'Trading  prospects  for  2000  are  encouraging  with   the
Construction Division showing a forward order book of  £144m
in  its selective market.  Your Board's strategy is to  seek
attractive  investments that complement  current  businesses
and which will contribute to Group profitability.'

Enquiries:

Paul  Sellars, Finance Director, YJL plc      Tel: [phone]


Chairman's Statement

Results for 1998/99

In  an eventful year for the Group, it is pleasing to report
a  return to profit, and especially the achievement of  your
Board's   principal  objective  of  ridding  the  Group   of
excessive  debt. The sale in June of the Lovell Partnerships
business had a decisive effect, and the profit for the  year
of  £8.5 million (1998 £3.2 million loss) includes a  profit
on disposal of this business of £4.5 million.

The  proceeds  of the sale of Lovell Partnerships,  together
with  cash  inflows  from Lovell America,  the  UK  mortgage
portfolio,  and  land sales, produced a  year-end  net  cash
balance  of  £2.1 million (1998 £10.8 million debt),  and  a
total exposure to debt of £3.3 million (1998 £20.3 million).
This  is the first time in many years that YJL has been able
to report a year-end net cash balance.

The  Group  has a strong balance sheet with net  assets  per
share  of  26.8p  and the previous profit and  loss  account
deficit now eliminated.

The  construction  businesses  again  showed  a  significant
trading  improvement in the year confirming our belief  that
they  continue to enjoy an enviable reputation within  their
sectors.  The UK property development business made  a  good
contribution to profits particularly with the completion  of
the  joint  venture  development in Egham  and  in  securing
further  lettings  at the shopping centre  in  Grantham.  US
Developments  whilst  not yet achieving  acceptable  margins
nevertheless  achieved some notable land  sales  during  the
year.

Dividend

The Board is not recommending the payment of a dividend.

Board Changes

Peter  Gyllenhammar  was appointed  Deputy  Chairman  on  15
September and will, in this role, further apply his valuable
experience in construction and property development  to  the
affairs of the Group.

In  view of the changing requirements of the business, David
Heppell  will be leaving the Group on 31 December  1999  and
has  already  relinquished his day to day  responsibilities.
Roger  Feast  joins  the Group from  Jarvis  plc,  as  Chief
Executive   of   the  Construction  Division,   and   brings
substantial  experience  in  the  construction  and  related
markets.

Paul  Sellars, Group Finance Director, has additionally been
appointed  as  Chief Executive of the Property Division.  He
has extensive residential and commercial property experience
and  has been very involved in the Group property operations
for some time.

Employees

This  has  been a year of considerable change for the  Group
and the contribution and loyalty of our employees is greatly
appreciated. I should like to thank them on behalf  of  your
Board.

Future Prospects

The  continuing  programme to reduce central  overheads  has
again been successful with further significant savings.  The
review  of non core assets is now complete and we have  sold
the last of the units at our two Spanish developments.

Trading  prospects  for 1999/2000 are encouraging  with  the
Construction Division showing a forward order book  of  £144
million in its selective market. Your Board's strategy is to
seek   attractive   investments  that   complement   current
businesses and which will contribute to Group profitability.

Your  Board  will be seeking authority from the shareholders
for the Company to be able to buy back some of its shares in
the open market;  further details of this proposal are given
in  the Directors' Report in the Annual Report and Accounts,
which will be despatched to shareholders shortly.

                                              Cedric Scroggs
                                                    Chairman
                              
                           YJL PLC
                GROUP PROFIT AND LOSS ACCOUNT

                      Continuing Discontinued    Total    Total
                      operations   operations                  
                              
                            1999         1999     1999     1998
For the year                                                  
ended 30
September
                 Notes      £000         £000     £000     £000
 Turnover: Group         171,614                               
    and share of                       76,407  248,021  272,040
 joint ventures'
        turnover
Less: share of            (4,291)            -  (4,291)  (5,213)
joint ventures'
turnover
Group turnover      1    167,323        76,407  243,730  266,827
Cost of sales          (156,533)      (68,456) 224,989)(247,732)
Gross profit              10,790        7,951    18,741   19,095
Administrative          (10,034)      (6,067)  (16,101) (18,421)
expenses
Income from                                 -       100        -
joint ventures              100
Other operating                                      10         
income                        5             5                162
Operating profit                                              
                            861         1,889     2,750      836
Profit on sale                              -        55        -
of properties                55
Provision in                  -             -        -   (2,887)
respect of
discontinued
operations
Profit on           2         -                  6,816         -
disposal of                             6,816
discontinued
operations
Profit/(loss) on                                         (2,051)
        ordinary            916         8,705    9,621
      activities
 before interest
Interest                                           693         
receivable                                                   314
Interest payable                                (1,796)  (1,457)
Profit/(loss) on                                         (3,194)
        ordinary                                8,518
      activities
 before taxation
Taxation                                            -         
recoverable on                                                34
ordinary
activities
Profit/(loss)                                            (3,160)
for the year                                    8,518
after taxation
Earnings/(loss)     3                           11.1p      (5.1)p
per Ordinary
share


                           YJL PLC
                     GROUP BALANCE SHEET

At 30 September       1999    1999      1998     1998
                      £000    £000      £000     £000
Fixed assets                                         
Tangible assets              3,496              4,577
                                 -                  -
Investments in                                       
subsidiary
undertakings
Investment in
joint ventures:
Loans to joint      10,868            16,233         
ventures share
of gross assets
Share of gross      24,468            33,036         
liabilities
Share of gross    (19,073)          (34,960)         
liabilities
                            16,263             14,309
                            19,759             18,886
                                                     
Current assets                                       
Stocks and work             20,029             49,140
in progress
Debtors:                                             
Due within one              27,016             33,307
year
Due after more               3,810              9,101
than one year
Cash at bank and            10,014              4,073
in hand
                            60,869             95,621
                                                     
Creditors:                  48,310             85,424
amounts falling
due within one
year
Net current                 12,559             10,197
assets
Total assets                32,318             29,083
less current
liabilities
Creditors:                                           
amounts falling
due after more
than one year
Long term debt               4,943              8,597
Other creditors              6,827              9,223
                            11,770             17,820
                            20,548             11,263
                                                     
Shareholders'                                        
funds
Share capital                7,660             26,912
Share premium                1,066             31,437
account
Revaluation                  1,348              1,887
reserve
Capital reserve                314                314
Profit and loss             10,160           (49,287)
account                                             
Equity                      20,548             11,263
Shareholders'
funds
                                                     
                           YJL PLC
                GROUP STATEMENT OF CASH FLOW


For the year ended        1999          1998
30 September
                          £000          £000
Net cash               (1,693)         1,059
(outflow)/inflow
from operating
activities
Returns on                                  
investments and
servicing of
finance
Interest received           690           314
Interest paid           (1,311)       (1,318)
                          (621)       (1,004)
Taxation                                    
UK tax recovered             -            138
                             -            138
Capital                                     
expenditure
Payments to              (228)          (357)
acquire tangible
fixed assets
Receipts from            1,200              
sales of tangible                         19
fixed assets
Investments in and     (1,550)           748
movements on loans
to joint ventures
                         (578)           410
Acquisitions and                            
disposals
Receipts from sale      19,816             -
of subsidiary
undertakings
Costs incurred on        (534)             -
sale of subsidiary
undertakings
Cash disposed of           (9)             -
with subsidiary
undertakings
Payments to                (2)             -
acquire joint
ventures
Cash acquired with         102             -
joint ventures
                        19,373             -
Cash inflow before      16,481           603
use of liquid
resources and
financing
Management of                               
liquid resources
(Purchase)/sale of       (116)           414
liquid resources
                         (116)           414
Financing                                   
Movement in short      (6,069)         5,448
term borrowings
Movement in long       (4,529)       (3,919)
term borrowings
                      (10,598)         1,529
Increase in cash         5,767         2,546
during the year
                              
                              
                           YJL PLC
                    NOTES TO THE ACCOUNTS

1    Segmental analysis
External turnover is analysed as follows:

                           1999           1998
                          £'000          £'000
Construction            154,581        155,442
UK Developments           9,996          4,802
USA Developments          7,037          7,227
Turnover: Group         171,614        167,471
and share of
joint ventures'
turnover
Less: Share of            4,291          5,213
USA joint
ventures'
turnover
Continuing              167,323        162,258
operations
Discontinued             76,407        104,569
operations
External turnover       243,730        266,827


2. Profit on disposal of discontinued operations
On 16 June 1999, the Group sold its wholly owned
subsidiaries Lovell Partnerships Limited, Lovell
Partnerships(Northern) Limited and Lovell Partnerships
(Southern) Limited to Morgan Sindall plc.  The net assets
sold, based on the balance sheet as at 16 June 1999, and
consideration resulting from this transaction were as
follows:


Net assets:                  £'000
                                  
Stocks and work in          27,793
progress
Debtors                     13,016
Creditors                 (25,595)
Cash in hand                     9
Net assets sold             15,223
Profit on sale               4,382
                            19,605
                                  
Consideration                     
Consideration               19,816
received in cash
Consideration                  323
outstanding from
Morgan Sindell plc
Sale costs                   (534)
incurred
                            19,605
                                  
Profit                            
Profit on sale               4,382
Release of pension           2,434
scheme creditor
Profit on disposal           6,816
of discontinued
operations

The Group has also ceased trading in Spain.  There was no
profit or loss on the cessation of this business.  The
pension scheme creditor reflected the surplus arising on the
valuation of the scheme in previous years.  The disposal of
Lovell Partnerships during the year, together with the
previous Group rationalisations, have resulted in a
significant change to the membership of the scheme, and the
directors no longer consider it appropriate to hold this
amount in creditors.  It has been released to the profit and
loss account as part of the profit on disposal of Lovell
Partnerships.


3. Earnings/(loss) per Ordinary share
The earnings/(loss) per Ordinary share is based upon profit
for the Group of £8,518,000(1998: loss £3,160,000) divided
by 76,603,409 (1998: 61,755,893), being the weighted average
number of Ordinary shares in issue during the year.

The price of the share options outstanding during the year
exceeded the average fair value of the Company's shares
hence the options have no dilutive effect on the Earnings
per Ordinary share calculation.


4  Reconciliation of net debt
                             1999            1998
                            £'000           £'000
                                                 
Increase in cash            5,767           2,546
during the year
Cash                       10,598         (1,529)
outflow/(inflow)
from movement in
borrowings
Cash                          116           (414)
outflow/(inflow)
from movement in
liquid resources
                                                 
Change in debt             16,481             603
arising from cash
flows
Non cash                    (629)               -
Borrowings                (3,000)               -
acquired with
joint ventures
Translation                     9             304
differences
Movement in net            12,861             907
debt during the
year
Opening net (debt)       (10,770)        (11,677)
Closing net                 2,091        (10,770)
funds/(debt)


The financial information set out above does not constitute
statutory accounts as defined in section 240 0f the
Companies Act 1985. These preliminary results and the
accounts for the year ended 30 September 1999       are
subject to final audit and accordingly have not been
reported on by the auditors or delivered to the Registrar of
Companies.  The comparative financial information is based
upon the statutory accounts
for the financial year ended 30 September 1998.  Those
accounts, upon which the auditors have given an unqualified
opinion, have been delivered to the Registrar of Companies.
Statutory accounts for the year ended 30 September 1999 will
be delivered to the Registrar in due course.