Interim Results

TRY GROUP PLC
15 September 1999


INTERIM STATEMENT FOR THE SIX MONTHS TO 30TH JUNE 1999 (unaudited)

HIGHLIGHTS

* Profit before tax £1.85m (1998: £1.2m)                         52% increase

* Earnings per share 2.4p (1998: 1.5p)                           60% increase

* Interim dividend of 0.4p per share (1998: 0.35p)               14% increase

* Shareholders funds stand at £16.7m (1998: £13.5m)              23% increase

Comments from Hugh Try, Chairman:

'...the Group's first half trading has been ahead of expectations.

'Try Homes value of sales in hand at £20m is 81% higher than last year...we
expect sales for the full year to show a significant increase over 1998'.

'Prospects for the remainder of 1999 are very encouraging and we look forward
to reporting further progress in six months time'.


CHAIRMAN'S STATEMENT

RESULTS

I am pleased to announce that the Group's first half trading has been ahead of
expectations.

The profit before tax for the first six months was £1.85m, up 52% on a year
ago.  Turnover including our share of joint ventures and associates is up 19%
at £82.5m, reflecting the expansion in housebuilding and growth from the
repositioning of our contracting activities.  Our finances remain strong, with
shareholders funds up 23% on a year ago at £16.7m and net debt of £2.8m at 30
June, representing gearing of 17%.  Earnings per share have risen by 60% to
2.4p.

DIVIDEND

The directors have declared an interim dividend of 0.4p per share (1998:
0.35p) which will be paid on 29th October 1999 to shareholders on the register
on 1st October 1999.

CONTRACTING

Contracting operating profits were up 13% at £306,000.  The initiatives taken
in the first half of the year to move our contracting businesses more strongly
into the provision of long term services and higher margin fit out work are
starting to have a positive effect.

Try Interiors has recently won fit out contracts for the Tate Gallery and
Scottish Power, and has also been awarded the fit out works for the Grosvenor
Estate's new corporate head office in Mayfair.  We are seeing a good flow of
enquiries from both current and new clients and anticipate continued expansion
into 2000 and beyond.

Try Construction's emphasis on working as a preferred contractor for regular
clients has resulted in a series of contract awards for clients such as BP
Amoco, CGU and Michelin Tyres, a client of our expanding Midlands operation. 
We have completed a motorway services area on the M42 south of Birmingham for
Welcome Break, a new client, with whom further projects are under discussion.

In June, the first phase of our current project for the All England Lawn
Tennis Club at Wimbledon was handed over to the client.  Over 700 new seats
were in use on the remodelled west side of Centre Court at this year's
Championships and courts 16 and 17 were brought into use.  We have recently
completed the demolition of the remaining structure of the old Number 1 Court
and are on programme to hand over a world class facilities building for
competitors, members and officials for the Championships in 2000.

Try Accord's relaunch as a buildings maintenance and infrastructure provider
in the spring has started to generate new opportunities.  We are reaching a
number of good short lists, and have recently secured a 3 year term contract
for the Tower of London and Kensington Palace.  However, there is a long lead
time for this class of work and it will be next year before the benefits are
expected to flow.  This year we are investing in IT facilities and the
training of staff to ensure our quality standards match the best in the
industry.

HOUSEBUILDING

Housebuilding operating profits were up 36% at £2.1m.  Try Homes sold 76
houses and apartments in the first half year (1998: 48).  Our timely
acquisition of Amey Homes last October has enabled us to accelerate our growth
in the South East.  The average selling price was £184,000 (1998: £242,000),
resulting from an increase in the number of smaller homes sold following the
acquisition.  We are taking full advantage of the continued strength of the
market in the South East, and with the value of sales in hand currently £20m
(1998: £11m) we expect sales for the full year to show a significant increase
over 1998.  The enlarged business is generating operating margins in excess of
13%.

Try Homes' track record for developing on recycled land and conversions
continues to generate a significant number of new opportunities.  Our
expertise is clearly in line with the Government's intention to encourage such
development and the Urban Task Force report 'Towards an urban renaissance'
also reinforces our strategy.

Our reputation for developing imaginative schemes on brownfield sites was
further enhanced by the receipt of the RIBA Award for design excellence for
our conversion of The Piper Building in Fulham from an office block into 77
apartments.  Our conversion of the former Littlemore Hospital buildings in
Oxford into 83 houses and apartments is proving to be particularly successful,
as is our development of 39 town houses and apartments on the site of the
former bus garage in St Albans.  We are currently selling from 18 sites across
the South East from Hertfordshire and Kent to Dorset.

Sites recently acquired include a development for 29 homes at Walton on Thames
and a 15 homes site at Hampton.  New sites on which contracts have exchanged
include a listed building in Sussex for conversion into 28 houses and
apartments and 32 homes in Islington, North London.  Our land bank of plots
owned and under contract stands at 458 and we have a number of good
opportunities to maintain the rate of expansion of the business.

OUTLOOK

Try Group has made a strong start to the year.  Prospects for the remainder of
1999 are very encouraging and we look forward to reporting further progress in
six months time.


H W Try
Chairman
15th September 1999


CONSOLIDATED PROFIT AND LOSS ACCOUNT

                                      Half year       Half year          Year
                                  ended 30 June   ended 30 June  ended 31 Dec
                                           1999            1998          1998
                                           £000            £000          £000
______________________________________________________________________________
Turnover - group and share of 
 joint ventures and associates           82,461          69,020       150,611
Less: share of joint ventures' 
 and associates' turnover                (1,660)        (10,069)      (11,254)
______________________________________________________________________________
Group turnover                           80,801          58,951       139,357
______________________________________________________________________________
Gross profit                              5,737           3,974         9,648
Net operating expenses                   (3,957)         (3,512)       (6,590)
______________________________________________________________________________
Group operating profit                    1,780             462         3,058

Share of profits in joint ventures          164             572           285
Share of losses in associates                 -               -           (92)
Share of profits in property associates      67             247           397
______________________________________________________________________________
Profit on ordinary activities before 
 interest                                 2,011           1,281         3,648
Net interest (payable)/receivable
 - Group                                   (129)            (68)         (242)
 - Joint ventures                            16               2            74
 - Associates                               (52)              -           (74)
                                         _____________________________________
                                           (165)            (66)         (242)
______________________________________________________________________________
Profit on ordinary activities before tax  1,846           1,215         3,406
Tax                                        (185)           (180)         (253)
______________________________________________________________________________
Profit on ordinary activities after tax   1,661           1,035         3,153
Dividends                                  (277)           (242)         (692)
______________________________________________________________________________
Profit for the period                     1,384             793         2,461
______________________________________________________________________________


Earnings per ordinary share                2.40p           1.50p         4.56p
______________________________________________________________________________
Diluted earnings per share                 2.33p           1.46p         4.46p
______________________________________________________________________________


CONSOLIDATED BALANCE SHEET

                                        30 June         30 June        31 Dec
                                           1999            1998          1998
                                           £000            £000          £000
______________________________________________________________________________
Fixed assets
Tangible assets                           6,818           6,834         6,867
Investments in joint ventures
Share of gross assets                     2,096           4,451         2,433
Share of gross liabilities               (2,024)         (1,739)       (1,987)
                                         _____________________________________
                                             72           2,712           446
Investments in associates                   434             160           377
Other investments                           553             622           622
______________________________________________________________________________
                                          7,877          10,328         8,312
Current assets
Developments                             32,260          19,857        27,040
Debtors                                  27,310          21,727        25,483
Cash at bank & in hand                    6,430           4,064        11,246
______________________________________________________________________________
                                         66,000          45,648        63,769
Creditors: amounts falling due within
 one year                               (56,472)        (41,144)      (56,322)
______________________________________________________________________________
Net current assets                        9,528           4,504         7,447
______________________________________________________________________________
Total assets less current liabilities    17,405          14,832        15,759
Creditors: amounts falling due after 
 more than one year and provisions         (728)         (1,314)         (503)
______________________________________________________________________________
                                         16,677          13,518        15,256
______________________________________________________________________________
Capital and reserves
Called up share capital                   6,920           6,920         6,920
Share premium account                     2,888           2,888         2,888
Revaluation reserve                       1,760           1,760         1,760
Profit and loss account                   5,002           1,950         3,618
Other reserves                              107               -            70
______________________________________________________________________________
Equity shareholders' funds               16,677          13,518        15,256
______________________________________________________________________________


CONSOLIDATED CASH FLOW STATEMENT

                                      Half year       Half year          Year
                                  ended 30 June   ended 30 June  ended 31 Dec
                                           1999            1998          1998
                                           £000            £000          £000
______________________________________________________________________________
Net cash (outflow)/from operating 
 activities                              (5,295)         (7,998)         (970)
Dividends received from joint ventures        -             142           256
Net interest paid                           (93)            (59)         (182)
Taxation                                    (60)            122             -
Capital expenditure and financial
 investment                                 441            (216)        2,814
Acquisitions and disposals                    -           1,494        (4,021)
Equity dividends paid                      (450)           (415)         (657)
______________________________________________________________________________
Net cash (outflow) before use of 
 liquid resources and financing          (5,457)         (6,930)       (2,760)
______________________________________________________________________________
Management of liquid resources
Reduction in short term deposits 
 with banks                                 827           5,834         2,634
Financing
Repayment of bank loans                    (641)          1,959          (462)
Borrowings acquired with subsidiaries         -               -         5,433
______________________________________________________________________________
                                           (641)          1,959         4,971
______________________________________________________________________________
(Decrease)/increase in cash in the 
 period                                  (5,271)            863         4,845
______________________________________________________________________________


Reconciliation of net cash flow to movement in net cash
______________________________________________________________________________
(Decrease)/increase in cash in the 
 period                                  (5,271)            863         4,845
Cash repaying bank loans                    641          (1,959)          462
Borrowings acquired with subsidiaries         -               -        (5,433)
Reduction in short term deposits 
 with banks                                (827)         (5,834)       (2,634)
______________________________________________________________________________
Change in net cash                       (5,457)         (6,930)       (2,760)
Net cash at 1 January                     2,661           5,421         5,421
______________________________________________________________________________
Net (debt)/cash at 30 June               (2,796)         (1,509)        2,661
______________________________________________________________________________


Notes:

1. Segmental analysis                                          

                    Turnover     Group   Turnover     Group    Profit/(loss)
                   including  turnover  including  turnover   before interest
                  associates           associates
                   and joint            and joint
                    ventures             ventures
                        1999      1999       1998      1998    1999      1998
                        £000      £000       £000      £000    £000      £000

Contracting           66,552    66,552     54,231    51,512     306       271
Housebuilding         15,326    14,249     11,750     7,439   2,051     1,504
Group and other          583         -      3,039         -    (346)     (494)
______________________________________________________________________________
                      82,461    80,801     69,020    58,951   2,011     1,281
______________________________________________________________________________

2. Basis of preparation

The interim financial information has been prepared on the basis of the
accounting policies set out in Try Group PLC's statutory financial statements
for the year ended 31 December 1998 and in accordance with applicable UK
accounting standards.  All the figures are consolidated and for the six months
ended 30 June 1999 and 30 June 1998 are unaudited.  The figures for the year
ended 31 December 1998 have been extracted from the statutory financial
statements of Try Group PLC on which the auditors gave an unqualified report
and which have been delivered to the Registrar of Companies.  The foregoing
financial information does not constitute statutory financial statements.

3. Earnings per share

Basic earnings per share is calculated using the profit on ordinary activities
after tax and the weighted average number of ordinary shares in issue during
the period.  For diluted earnings per share, the weighted average number of
ordinary shares is adjusted to assume conversion of all dilutive potential
ordinary shares.  Full details are given in the table below:

                     Earnings        1999   Per-   Earnings        1998   Per-
                          (£)   Number of  share        (£)   Number of  share
                                   shares amount                 shares amount
______________________________________________________________________________

Basic earnings
 per share          1,661,000  69,203,200  2.40p  1,035,000  69,203,200  1.50p
Effect of dilutive
 securities:
Share option scheme         -     996,776      -          -     913,167      -
Restricted share
 scheme                     -   1,114,542      -          -     637,097      -
______________________________________________________________________________
Diluted earnings
 per share          1,661,000  71,314,318  2.33p  1,035,000  70,753,464  1.46p
______________________________________________________________________________

4. Interim Dividend

The Directors have declared an interim dividend of 0.4p per share (1998:
0.35p) totalling £276,813 (1998: £242,211) which will be paid on 29th October
1999 to Ordinary shareholders on the register at the close of business on 1st
October 1999.

5. Year 2000

The Group stated in its 1998 Annual Report that its Year 2000 investigation
into its internal business systems had been satisfactorily completed and that
no issues of materiality had arisen from its investigation into its potential
responsibilities under construction contracts.  This remains the situation,
with overall expenditure contained within normal operating levels.


Further enquiries to:-

David Calverley, Chief Executive - 01895 855219
Frank Nelson, Finance Director - 01895 855226
Ann-marie Wilkinson, Biddick Associates Ltd - 0171 377 6677

Copies of this statement will be sent to all holders of the Company's listed
securities.  Copies are available to the public at the registered office of
the Company; The Secretary, Try Group PLC, Cowley Business Park, Cowley,
Uxbridge, Middlesex UB8 2AL