Interim Results

Norish PLC
09 September 2005


                                   Norish plc
                         Interim Report to Shareholders
                        For the six months to 30 June 2005


Results

Norish plc announces pre-tax profits of £0.9m (after net exceptional gains of
£0.7m) for the six months ended 30 June 2005. This compares with pre-tax profits
of £0.2m for the same period last year. Turnover from continuing operations
increased by £0.3m to £5.4m. The adjusted earnings per share increased to 1.7p
compared to 1.2p for the same period last year.

The cold storage division performed well with high occupancy in the first half
of the year increasing gross profit from £0.2m to £0.5m, despite increasing
power costs.

Our ambient facilities at York and Felixstowe performed marginally better than
last year.

An exceptional gain of £0.9m resulted from the sale of our Belvedere facility in
April 2005 for £2.8m, net of costs. This reflects the Company's strategy in
exiting from its commodity activities in raw material storage of cocoa and
coffee.

In August 2005 we exercised our option to acquire the land and property of the
York facility from RSH Properties for a total consideration, net of costs, of
£2.0m. This facility is an ambient food storage warehouse which has been leased
since 2000.

The company incurred an exceptional reorganisation cost of £0.2m in
restructuring the business to meet its current needs.

Outlook

The business historically performs well in the second half of the year and at
this stage we have no reason to believe that this will not be the case. However,
we will be experiencing high energy costs in the fourth quarter and at present
we are introducing a number of initiatives to combat these increasing costs.

Financial Strength

Shareholders funds at 30 June 2005 were £6.1m compared with £5.2m at 31 December
2004. Net cash surplus at 30 June 2005 was £1.3m, compared with a net debt of
£2.0m at 31 December 2004.

Board Changes

Norman Hatcliff joined the board in July 2005 as Group Operations Director. He
joined the company in 2000 and has extensive experience in the logistics
industry having previously worked with Exel and TDG. In the past two years he
has been responsible for all of the Company's commercial and operational
activities.

Iain Buntain, Finance Director has decided to leave the company to pursue other
business interests. I would like to take the opportunity to thank Iain for all
his work and effort in helping the company through some difficult years
culminating in the successful restructuring of the business. Aidan Hughes,
Company Secretary will assume responsibility for the Company's finance function.
Aidan is a Chartered Accountant and has been with the business since 1996.

Dividend

The board has decided to declare an interim dividend of €1.25c to be payable on
28 October 2005 for those shareholders on the record as at 30 September 2005.

Ted O'Neill
Executive Chairman

9 September 2005

                                   Norish plc
                       Consolidated Profit & Loss Account
                           Six Months to 30 June 2005

                                                  Six months to   Six months to   Six months to
                                                  30 June 2005    30 June 2005     30 June 2004
                                                          €'000           £'000           £'000
                                                    (Unaudited)     (Unaudited)     (Unaudited)

Group turnover
             Continuing operations                        8,003           5,362           5,089
             Discontinuing                                  546             366             935
             operations (see Note)
                                                        _______         _______         _______
                                                          8,549           5,728           6,024

Cost of                                                  (7,845)         (5,256)         (5,521)
sales
                                                        _______         _______         _______

Gross profit                                                704             472             503

Administrative
expenses                                                   (361)           (242)           (260)

Exceptional
item -
reorganisation
costs                                                      (294)           (197)              0
                                                        _______         _______         _______
Operating profit
Continuing
operations                                                  200             134               2
Discontinuing
operations
(see Note)                                                 (151)           (101)            241
                                                        _______         _______         _______

                                                             49              33             243

Exceptional
item - profit
on sale of
property -                                                1,281             858               0
discontinuing operations (see                           _______         _______         _______
Note)

Profit on
ordinary
activities
before
interest                                                  1,330             891               243

Interest
payable less
interest
receivable                                                  (37)            (25)            (65)
                                                        _______         _______         _______
Profit on
ordinary
activities
before
taxation                                                  1,293             866             178

Tax on profit
on ordinary
activities                                                  (15)            (10)            (80)
                                                        _______         _______         _______
Profit for the
period                                                    1,278             856              98
                                                         ======          ======          ======

Basic and
diluted
earnings per
share                                                    €15.1c            10.1p            1.2p

Adjusted
earnings per
share;
excluding
goodwill
amortisation
and
exceptional
items                                                     €2.5c             1.7p            1.2p

Note : Discontinuing operations represent cocoa and coffee commodity storage
activities that will be discontinued operations by year-end. The interim results
have been analysed to show those operations seperately from continuing
operations.

The unaudited financial information presented in pounds sterling as of and for
the period ended 30 June 2005 is also expressed in Euro, solely for convenience,
at the rate of €1 = £0.67, the closing rate for the period. No representation is
made that the pounds sterling amounts have been, could have been or could be
converted into Euro at that or any other rate.


                                   Norish plc
                           Consolidated Balance Sheet
                               As at 30 June 2005


                                         30 June 2005   30 June 2005   30 June 2004
                                                €'000          £'000          £'000
                                          (Unaudited)    (Unaudited)    (Unaudited)

Fixed assets

Intangible assets -
goodwill                                          334            224            239
Tangible fixed
assets                                          8,073          5,409          7,591
                                               ______         ______         ______
                                                8,407          5,633          7,830

Current assets

Debtors                                         4,555          3,052          3,475
Cash at bank and in
hand                                            2,490          1,668             46
                                               ______         ______         ______
                                                7,045          4,720          3,521
Creditors: due within one                      (5,475)        (3,668)        (4,125)
           year
                                               ______         ______         ______
Net current
assets/(liabilities)                            1,570          1,052           (604)
                                               ______         ______         ______
Total assets less
current liabilities                             9,977          6,685          7,226

Creditors: due after more than                      0              0         (1,274)
           one year

Provisions for
liabilities and
charges                                          (976)          (654)          (718)
                                               ______         ______         ______
Net assets                                      9,001          6,031          5,234
                                               ======         ======         ======

Capital and reserves

Called up share
capital                                         2,228          1,493          1,493
Share premium
account                                         4,711          3,156          3,156
Capital conversion
reserve fund                                       34             23             23
Profit and loss
account                                         2,028          1,359            562
                                               ______         ______         ______
Shareholders' funds
- equity                                        9,001          6,031          5,234
                                               ======         ======         ======


                                   Norish plc
                        Consolidated Cash Flow Statement
                           Six Months to 30 June 2005

                                              30 June 2005  30 June 2005   30 June 2004
                                                    €'000          £'000          £'000
                                              (Unaudited)    (Unaudited)    (Unaudited)

Net cash inflow from
operating activities                                1,146            768            657

Returns on
investments and
servicing of finance                                  (37)           (25)           (65)
Taxation                                             (105)           (70)             5
Capital expenditure
and financial
investment                                          3,981          2,667           (222)
Equity dividends paid                                (178)          (119)          (220)
                                                   ______         ______         ______
Net cash inflow
before financing
activities                                          4,807          3,221            155
Financing activities                               (1,607)        (1,077)          (172)
                                                   ______         ______         ______
Increase/(decrease)
in cash in the period                               3,200          2,144            (17)
                                                   ======         ======         ======

Reconciliation of Net Cash Flow to Movement in Net Funds /
(Debt)

Increase/(decrease)
in cash in the period                               3,200          2,144            (17)
Decrease in debt                                    1,607          1,077            172
                                                   ______         ______         ______

Change in net debt
resulting from cash
flows                                               4,807          3,221            155

Net debt at 1 January                              (2,936)        (1,967)        (2,700)
                                                   ______         ______         ______
Net funds/(debt) at
30 June                                             1,871          1,254         (2,545)
                                                   ======         ======         ======



                                   Norish plc
                          Adjusted Earnings per Share
                           Six Months to 30 June 2005


                                        30 June 2005   30 June 2005   30 June 2004
                                               €'000          £'000          £'000
                                         (Unaudited)    (Unaudited)    (Unaudited)

Profit for the period
attributable to shareholders                   1,278            856             98
Goodwill amortisation                             10              7              7
Exceptional items (after tax at 30% where
appropriate)
- Reorganisation costs                           206            138              -
- Profit on sale of property                  (1,281)          (858)             -
                                           ---------      ---------      ---------
Adjusted Earnings                                213            143            105
                                              ======         ======         ======

Weighted average number of
ordinary shares                            8,466,230      8,466,230      8,466,230

Adjusted earnings per share                    €2.5c            1.7p           1.2p
                                              ======        =======        =======

The adjusted earnings per share figure is presented in order to illustrate
earnings per share on a consistent basis over time after eliminating the impact
of goodwill amortisation and significant
non-recurring items.

INFORMATION FOR SHAREHOLDERS

Register

The Company's share register and related records are now maintained by
Computershare Services (Ireland) Ltd., to whom shareholder enquires, should be
addressed.

Their address is Heron House, Corrig Road, Sandyford Industrial Estate, Dublin
18, Ireland. Telephone [phone].

Website

The group's website can be accessed at www.norish.com



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