Subsid Interim Results-K&F .

Tandem Group PLC
2 March 2001



                        Kingsley & Forester Group plc

                   Interim report for the six months ended

                                 31 July 2000

                         Chairman's interim statement

Introduction

The results for the six months to 31 July 2000 show a loss after interest and
before taxation of £79,000 (1999 : £90,000).  No dividend is proposed (1999 -
nil).

Review of interim results

During the period the Company and its subsidiaries remained dormant.

Graham Waldron
Chairman


2 March 2001

Registered office: 9a South Street, Crowland, Peterborough PE6 0AH



                    Consolidated profit and loss statement

                6 months to              26 weeks to               Year ended
               31 July 2000            1 August 1999          31 January 2000
                  Unaudited                Unaudited                  Audited
                      £'000                    £'000                    £'000

Operating profit
Discontinued operations   -                        -                       11
Utilisation of prior 
year provision            -                        -                       51
                   ________                 ________                 ________

Total operating 
profit                    -                        -                       62

Net interest payable    (79)                     (90)                    (144)
                   ________                 ________                 ________
 
Loss before 
taxation                (79)                     (90)                     (82)

Taxation                  -                        -                        -
                   ________                 ________                 ________

Loss after 
taxation                (79)                     (90)                     (82)

Finance costs 
of non-equity shares     (8)                      (8)                     (15)
                   ________                 ________                 ________

Retained loss for 
the period              (87)                     (98)                     (97)
                   ________                 ________                 ________


Loss per share        0.27p                    0.30p                     0.30p



                          Consolidated balance sheet

               31 July 2000            1 August 1999          31 January 2000
                  Unaudited                Unaudited                  Audited
                      £'000                    £'000                    £'000

Current assets
Debtors               1,346                    1,335                    1,346
                   ________                 ________                 ________
   

Creditors:
Amounts falling 
due within one year
Bank overdrafts      (2,059)                  (1,926)                  (1,980)
Other creditors         (31)                     (16)                     (23)
                   ________                 ________                 ________

                     (2,090)                  (1,942)                  (2,003)
                   ________                 ________                 ________


Total assets 
less current 
liabilities            (744)                    (607)                    (657)

Provisions for 
liabilities and 
charges                 (24)                     (75)                     (24)
                   ________                 ________                 ________

Net liabilities        (768)                    (682)                    (681)
                   ________                 ________                 ________


Capital and reserves
Called-up share 
capital               6,851                    6,851                    6,851
Share premium 
account               1,036                    1,036                    1,036
Other reserves           56                       56                       56
Profit and loss 
account              (8,711)                  (8,625)                  (8,624)
                   ________                 ________                 ________

Shareholders' 
deficit                (768)                    (682)                    (681)
                   ________                 ________                 ________



                       Consolidated cash flow statement

                6 months to              26 weeks to               Year ended
               31 July 2000            1 August 1999          31 January 2000
                  Unaudited                Unaudited                  Audited
                      £'000                    £'000                    £'000

Net cash inflow 
from operating 
activities                -                      (45)                     (45)

Returns on 
investment and 
servicing of finance
Net interest paid       (79)                      (90)                   (144)
                   ________                  ________                ________

Decrease in cash        (79)                     (135)                   (189)
                   ________                  ________                ________


                         Notes to the interim report

1        Basis of preparation

          The figures for the year ended 31 January 2000 are an abridged
version of the audited accounts for the year which have been filed with the
Registrar of Companies and on which the auditors of the Company issued a
report which, whilst unqualified, contained an explanatory note drawing
shareholders' attention to the fact that the accounts have been prepared on a
going concern basis which is dependent on the Company's bank facilities
remaining in place.  The remaining figures have not been audited or reviewed
by the Group's auditors.

2        Earnings per share

          The calculation of earning per share is based on the net loss for
the period of £87,000 (1999 - £98,000) and an average of 32,220,805 (1999 -
32,220,805) ordinary shares in issue during the period.

3        Movement in shareholders' deficit

                              6 months to     26 weeks to            Year ended
                             31 July 2000   1 August 1999       31 January 2000
                                    £'000           £'000                 £'000

          Loss for the period         (79)            (90)                  (82)
          Finance costs of 
          non-equity shares            (8)             (8)                  (15)
                                 ________        ________              ________

          Increase in 
          shareholders deficit        (87)            (98)                  (97)

          Opening 
          shareholders' deficit      (681)           (584)                 (584)
                                 ________        ________              ________

          Closing shareholders' 
          deficit                    (768)           (682)                 (681)
                                 ________        ________              ________

4        Analysis of 
         shareholders' deficit

         Equity                    (1,253)         (1,152)               (1,158)
         Non-equity                   485             470                   477
                                 ________        ________              ________

                                     (768)           (682)                 (681)
                                 ________        ________              ________


                   Notes to the interim report (continued)

5        Reconciliation of operating profit to net cash flow from operating
         activities

                              6 months to     26 weeks to            Year ended
                             31 July 2000   1 August 1999       31 January 2000
                                    £'000           £'000                 £'000


          Operating profit              -               -                    62
          Decrease in debtors           -              24                    13
          Decrease in provisions        -               -                   (51)
          Decrease in creditors         -             (69)                  (69)
                                 ________        ________              ________

          Net cash outflow from 
          operating activities          -             (45)                  (45)
                                 ________        ________              ________

6        Analysis of net debt

                               1 February       Cash flow               31 July
                                     2000                                  2000
                                    £'000           £'000                 £'000

          Bank overdraft           (1,980)            (79)               (2,059)
                                 ________        ________              ________