Final Results

CROWN EYEGLASS PLC
20 August 1999


PRELIMINARY STATEMENT OF RESULTS FOR THE YEAR ENDED 31 MARCH 1999

CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 1999

                                                          1999       1998
                                                         £'000      £'000
                                                                 
TURNOVER                                                         
                                                                 
Continuing operations                                    9,891     10,593
Discontinued operations                                      -        103
                                                       _______    _______
                                                         9,891     10,696
Cost of sales                                           (3,765)    (4,034)
                                                       _______    _______
                                                                 
GROSS PROFIT                                             6,126      6,662
                                                                 
Distribution costs                                      (3,555)    (4,095)
Administrative expenses                                 (2,535)    (2,579)
                                                       _______    _______
OPERATING PROFIT/(LOSS)                                          
                                                                 
Continuing operations                                       36         79
Discontinued operations                                      -        (91)
                                                       _______    _______
                                                            36        (12)
Exceptional item                                             -       (121)
                                                       _______    _______
PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE INTEREST        36       (133)
                                                                 
Interest receivable                                          6          7
Interest payable                                           (35)       (33)
                                                       _______    _______
PROFIT/(LOSS) ON ORDINARY ACTIVITIES BEFORE TAXATION         7       (159)
                                                                 
Tax on profit/(loss) on ordinary activities               (125)        73
                                                       _______    _______
LOSS ON ORDINARY ACTIVITIES AFTER TAXATION                (118)       (86)
                                                                 
Dividends on equity shares                                   -       (200)
                                                       _______    _______
LOSS FOR THE FINANCIAL YEAR                               (118)      (286)
                                                       =======    =======
Loss per ordinary share                                  (7.4p)     (5.4p)
                                                       =======    =======


CHAIRMAN'S STATEMENT

Introduction

Following on from my interim report, the second half of the financial year -
whilst proving a challenging period as predicted - resulted in an improved
performance compared with the second half of the previous financial year.

However, the improvement came predominantly from our UK activities with the
continued strength of sterling against the Swedish krona providing no comfort
for our Swedish subsidiary, Direkt Optik AB, which continued to experience
difficult trading conditions.

Results

In total, Group turnover from continuing operations fell by 6.6% from £10.6m
to £9.9m.  The UK turnover showed an increase of 2.5% whilst turnover in
Sweden was down by 18.2% in sterling terms.

The Group operating profit on continuing operations was £36,000 compared with
£79,000 and the Group profit on ordinary activities before tax fell from
£53,000 to £7,000.  The inability to offset losses incurred in Sweden against
UK profits for tax purposes resulted in a loss after taxation of £118,000.

The Group balance sheet comprised net assets of £1.789m at the year end.

Operations

Following a period of consolidation, as opposed to expansion, the Crown
Eyeglass management has concentrated its efforts on maximising the
contribution from each of its 34 company owned outlets and 19 franchises in
the UK.  In addition, strict monitoring of overheads together with continued
high standards of quality and service have been maintained.  The positive
results of these efforts are beginning to show through despite ever increasing
and aggressive marketing from our competitors.

However, in Sweden where a similar strategy is in place in Direkt Optik's 21
optical centres, the results are much slower in coming to fruition.  Whilst
finding this frustrating, the Board believes that, for the time being, it is
still the correct approach to follow.

Readyspex Limited, our ready made reading glasses subsidiary, managed to
increase its UK turnover again but suffered a decrease in its export business,
primarily as a result of lower sales to eastern Europe.

Employees

On behalf of the Board, I should like to express our thanks to the Group's
employees for their continued support and dedication.

Prospects

Although there are grounds for cautious optimism for our UK business, there is
still a long way to go before we reach what the Board regards as an acceptable
position from which to re-commence a programme of expansion.  In Sweden where
there is even further to go, and the strong pound continues to exacerbate the
situation, we expect to have to exercise a degree of patience before Direkt
Optik AB is in a position to move forward.

The Board believes that its prudent strategy is the correct approach for the
Group to take, and therefore is of the opinion that it is not in the best
interests of the Group's shareholders to recommend a dividend for the year
ended 31 March 1999.


J. G. Lee
20 August 1999