Final Results

Braime (T.F.& J.H.) (Hldgs) PLC
28 February 2002


At a meeting of the directors held here today, the accounts for the year ended
31st December 2001 were submitted and approved by the directors.  The
preliminary profits statement is as follows:


   Consolidated Profit and Loss Account for the year ended 31st December 2001

                                                                                     2001                          2000
                                                                                                            As restated
                                                                                        £                             £


Group turnover                                                                  9,172,928                     8,482,420

Trading profit/(loss)                                                             297,249                       (27,646)
Investment income                                                                  80,962                        98,996

Profit before interest                                                            378,211                        71,350
Interest payable                                                                   64,411                        68,794

Profit before taxation                                                            313,800                         2,556
Taxation                                                                           79,415                        45,579

Profit/(loss) attributable to shareholders                                        234,385                       (43,023)

The directors recommend the following appropriations:

Preference shares
Dividend already paid of 5.00p per share (2000 5.00p)                 9,000                         9,000

Ordinary shares
Interim dividend already paid of 1.80p per share
 (2000 1.80p)                                                         8,640                         8,640

Proposed final dividend of 7.60p per share (2000 6.60p)              36,480                        31,680

'A' Ordinary shares
Interim dividend already paid of 1.80p per share
 (2000 1.80p)                                                        17,280                        17,280

Proposed final dividend of 7.60p per share (2000 6.60p)              72,960                        63,360
                                                                                  144,360                       129,960

Retained profit/(loss)                                                             90,025                      (172,983)

Earnings per share                                                                 15.65p                        (3.61p)



              Consolidated Balance Sheet as at 31st December 2001

                                                                                                 2001            2000
                                                                                                          As restated
                                                                                                    £               £


Fixed assets                                Intangible assets                                  11,926          13,711
                                            Tangible assets                                   637,098         650,161
                                                                                              649,024         663,872

Current assets                              Stocks                                          1,726,717       1,560,264
                                            Debtors                                         1,862,051       1,896,111
                                            Cash at bank and in hand                        2,025,680       1,855,011
                                                                                            5,614,448       5,311,386

Creditors                                   Amounts falling due within one year             2,128,907       1,923,054

Net current assets                                                                          3,485,541       3,388,332

Total assets less current liabilities                                                       4,134,565       4,052,204

Deferred income                                                                                29,750          31,406

Net assets                                                                                  4,104,815       4,020,798

Capital and reserves                        Called up share capital                           540,000         540,000
                                            Reserves                                        3,564,815       3,480,798

Shareholders' funds                                                                         4,104,815       4,020,798
                                            Comprising:
                                            Non-equity shareholders' funds                    180,000         180,000
                                            Equity shareholders' funds                      3,924,815       3,840,798


     Consolidated Cash Flow Statement for the year ended 31st December 2001

                                                                                                   2001           2000
                                                                     Notes                            £              £


Net cash inflow from operating activities                            1                          283,234        149,357

Returns on investments and servicing of finance
Interest received                                                                                80,962         98,996
Interest paid                                                                                   (64,411)       (68,794)
Non-equity dividends paid                                                                        (9,000)        (9,000)
                                                                                                  7,551         21,202
Taxation
UK Corporation tax received                                                                      20,995         36,877
Overseas tax paid                                                                                (9,515)      (100,344)
                                                                                                 11,480        (63,467)
Capital expenditure
Purchase of tangible fixed assets                                                               (98,080)      (111,166)
Disposal of tangible fixed assets                                                                 3,600         11,804
                                                                                                (94,484)       (99,362)

Equity dividends paid                                                                          (120,960)      (135,360)

Management of liquid resources
(Increase)/decrease in treasury deposits                             2                          (10,894)       362,486

Increase in cash                                                     3                            75,931       234,856



                   Notes to Consolidated Cash Flow Statement

1.  Reconciliation of operating profit to net cash inflow from
    operating activities
                                                                                                 2001            2000
                                                                                                          As restated
                                                                                                    £               £

    Operating profit/(loss)                                                                   297,249         (27,646)
    Depreciation of tangible and intangible assets                                            111,345         139,101
    Profit on disposal of fixed assets                                                         (3,599)         (5,214)
    Government grants amortised                                                                (1,656)         (1,656)
    (Increase)/decrease in stocks                                                            (166,453)        196,348
    Increase in debtors                                                                        (9,628)       (213,924)
    Increase in creditors                                                                      54,394          62,625
    Movement in value of assets caused by foreign exchange movements                            1,582            (277)

                                                                                              283,234         149,357


2.  Analysis of changes in net funds                                              2000       Cash flow           2001
                                                                                     £              £               £

    Cash at bank and in hand                                                   562,348        159,775         722,123
    Bank loans and overdrafts                                                 (958,767)       (89,852)     (1,048,619)
                                                                              (396,419)        69,923        (326,496)
    Treasury deposits                                                        1,292,663         10,894       1,303,557

                                                                               896,244         80,817         977,061


3.  Reconciliation of net cash flow to movement in net funds                                                        £

    Increase in cash                                                                                           75,931
    Effect of foreign exchange rate changes                                                                    (6,008)
                                                                                                               69,923
    Increase in treasury deposits                                                                              10,894
    Movement in net funds in the year                                                                          80,817
    Net funds at 31st December 2000                                                                           896,244

    Net funds at 31st December 2001                                                                           977,061


The annual general meeting will be held on Friday 26th April 2002 and it is
proposed to pay the final dividend on Monday 29th April 2002 to shareholders
registered with the company on 8th March 2002.

This statement has been agreed with the company's auditors.


D. H. Brown
Company Secretary
T.F. & J.H. Braime (Holdings) P.L.C.

28th February 2002


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