Interim Results

Stanelco PLC
29 June 2000


INTERIM REPORT

CHAIRMAN'S STATEMENT 


RESULTS

I am very pleased to report that Stanelco Fibre Optics Limited,
the trading company of the group, achieved a turnover of
£2,068,000 (30 April 1999: £1,011,000) resulting in an operating
profit at subsidiary level of £425,000 (30 April 1999: £76,000).

The holding company incurred costs of £23,000 (30 April 1999:
£12,000) thereby resulting in a record group operating profit of
£401,000 (30 April 1999: £64,000).  After interest and taxation
charges there is a profit for the group of £287,000 for the
first 6 months of this year (30 April 1999: £45,000).

Stanelco continues to be the largest independent supplier of
zirconia and graphite fibre optic furnaces in the world and its
products are continually being improved and developed.


FUTURE PROSPECTS

Enquiries continue at a strong level, and the group continues to
have a growing order book.  The prospects for the second half
year and beyond are very encouraging.


JOINT VENTURE

The joint venture referred to in my statement in the last annual
report, is progressing and the technical evaluation of the
technology developed and patented by Stanelco is on schedule and
the results are encouraging.

The group continues to search actively for appropriate
acquisition targets.


DIVIDEND

No interim dividend is to be declared and the Board will not
declare a dividend for the financial period as a whole.


YEAR 2000 COMPLIANCE

I am pleased to report that the group did not suffer any
problems resulting from the year 2000 risk.


BY ORDER OF THE BOARD


Christopher H B Mills (Chairman)     29 June 2000



STANELCO PLC

INTERIM REPORT


UNAUDITED CONSOLIDATED RESULTS: SUMMARISED PROFIT AND LOSS ACCOUNT

For the six months ended 30 APRIL 2000


                                     Six months      Six months          Year   
                                          ended           ended         ended   
                                       30 April        30 April    31 October   
                                           2000            1999          1999   
                                          £'000           £'000         £'000   

                    

Turnover                                  2,068           1,011         2,477 

Operating profit                            401              64           295 

Interest receivable/(payable) (net)           1              (1)          (17) 

Profit on ordinary activities before 
taxation                                    402              63           278 

Taxation                                   (115)            (18)          (69) 

Retained profit on ordinary activities 
after taxation                              287              45           209 

Profit per share                         0.0431          0.0068        0.0314  



Notes


1.     The earnings per share is based on an attributable profit of
£287,000 (1999: £45,000) and on the number of ordinary shares in
issue during the period of 666,224,850 (1999: 666,224,850).


2.     The figures for the twelve months ended 31 October 1999 are an
abridged statement of the full Group Accounts for that year
which have been delivered to the Registrar of Companies and on
which the auditors made an unqualified report and did not
contain a statement under Section 237 of the Companies Act 1985.



     The principal accounting policies of the group have remained
unchanged from those set out in the group's 1999 annual report
and financial statements.  The financial information set out in
this interim report does not constitute statutory accounts as
defined in section 240 of the Companies Act 1985.



     The interim financial information in this report has been
neither audited nor reviewed by the company's auditors.



3.    Copies of this statement are being sent to all shareholders
today and will be available to the public at the company's
registered office.