Interim Results

Creightons PLC
27 December 2002

                 Creightons plc ('Creightons' or 'the Company')

            Interim results for the 6 months ended 30 September 2002

                              Chairman's statement


I am pleased to be able to report to you that the Company has recorded a small
operating profit for the half-year to 30 September 2002 of £5,000 (2001: loss of
£34,000). As a consequence of the Company having lower borrowing than for some
time, interest expense of just £34,000 also means that the overall loss for the
period of £29,000 is the lowest loss reported for the Company in over six years.

The last six months has been a very challenging period for all companies and
industries, in the unfavourable economic climate we have experienced. As a
consequence, many major customers have undertaken de-stocking and
rationalisation programmes, which have significantly reduced our sales to
historic customers. However, the company has been exploring new opportunities
for developing product ranges with healthcare and lifestyle businesses, several
of which the Company is please to report have resulted in co-operative marketing
and sales ventures on the back of products based on the Company's investment in
R&D.


William McIlroy

Executive Chairman

23 December 2002



Consolidated Profit and Loss Account

For the six months ended 30 September 2002
                                                           6 months to        6 months to       Year ended
                                                          30 September       30 September         31 March
                                                                  2002               2001             2002
                                                                 £'000              £'000            £'000

Turnover                                                         1,983              2,172            4,421
Cost of sales                                                  (1,252)            (1,363)          (2,892)
                                                              ________           ________         ________

Gross profit                                                       731                809            1,529
Operating expenses                                               (747)              (880)          (1,682)
Other operating income                                              21                 37               75
                                                              ________           ________         ________

Operating profit/(loss)                                              5               (34)             (78)
Net interest payable                                              (34)               (40)             (70)
                                                              ________           ________         ________

Profit/(Loss) on ordinary activities and loss
sustained for the period                                          (29)               (74)            (148)
                                                               =======            =======          =======
Loss per share                                                (0.053)p            (0.14)p          (0.29)p
Fully diluted loss per share                                  (0.053)p            (0.14)p          (0.29)p


Consolidated Balance Sheet

As at 30 September 2002
                                                          30 September       30 September         31 March
                                                                  2002               2001             2002
                                                                 £'000              £'000            £'000

Fixed assets
Tangible assets                                                  1,779              1,991            1,895
                                                              ________           ________         ________
Current assets
Stocks                                                             513                727              645
Debtors                                                            738                952              892
Cash                                                                 -                  -               16
                                                              ________           ________         ________
Creditors                                                        1,251              1,679            1,553

Amounts falling due within one year                            (1,566)            (2,160)          (1,953)
                                                              ________           ________         ________
Net current liabilities                                          (315)              (481)            (400)
                                                              ________           ________         ________
Total assets less current liabilities                            1,464              1,510            1,495

Creditors
Amounts falling due after more than one year                       (2)               (15)              (4)
                                                              ________           ________         ________
Net assets                                                       1,462              1,495            1,491
                                                               =======            =======          =======
Capital and reserves
Called up share capital                                            543                517              543
Share premium account                                            1,229              1,185            1,229
Other reserves                                                      38                 38               38
Profit and loss account                                          (348)              (245)            (319)
                                                              ________           ________         ________
                                                                 1,462              1,495            1,491
                                                               =======            =======          =======



Consolidated Cash Flow Statement

For the six months ended 30 September 2002
                                                          6 months to       6 months to         Year ended
                                                         30 September      30 September           31 March
                                                        2002     2002     2001     2001      2002     2002
                                                       £'000    £'000    £'000    £'000     £'000    £'000

Cash flow from operating activities                       29                      (103)              (294)

Returns on investments and
servicing of finance
Interest received                                                                               1
Interest paid                                           (34)              (38)               (60)
Interest element of hire purchase payments                                 (2)               (11)
                                                                                   (40)               (70)

Taxation(paid)/received                                                                                  -

Capital expenditure
Purchase of tangible fixed assets                        (9)                       (22)               (53)
Sale of tangible fixed assets                             15                      1,243              1,243
                                                        ____                       ____               ____
Cash outflow before financing                                       1             1,078                826

Financing

Repayments of amounts borrowed                             -             (410)              (410)
Capital element of hire purchase payments                (6)               (8)               (15)

Issue of share capital                                                                         70
                                                        ____              ____               ____
                                                                  (6)             (418)              (355)
                                                                 ____              ____               ____
Increase/(decrease) in cash                                       (5)               660                471
                                                                 ====              ====               ====

Notes to the Interim Report


 1. The interim report has been prepared using the same accounting policies as
    were used for the annual report and financial statements for the year ended
    31 March 2002.


        The interim financial statements do not constitute statutory accounts
        and they are unaudited. They have, however, been reviewed by the
        auditors, whose report is included. Full year figures for the year ended
        31 March 2002 have been extracted from the annual report and financial
        statements for that year which received an unqualified audit opinion and
        have been filed with the Registrar of Companies.

        The interim financial information has been prepared on a going concern
        basis. The Group has been meeting its day to day working capital
        requirements through an overdraft facility which was due for renewal on
        31 May 2002. The facility previously in place was not formally renewed,
        but the directors have agreed with their bankers that this is an
        appropriate time to restructure the core overdraft facilities into
        longer term debt and a reduced overdraft or comparable trading facility.
        This action is considered necessary by the directors in order to improve
        the financial and commercial stability of the company. It coincides with
        the fact that a further 12,000 sq ft of freehold warehousing space has
        been released for letting by continuing rationalisation of the
        warehousing and manufacturing processes. It is anticipated that the
        rental income from a long term lease of this excess space would more
        than cover the projected interest costs of a commercial mortgage which
        would be used to make a significant contribution towards repaying the
        existing overdraft.

        The directors are confident that adequate re-financing arrangements will
        be successfully negotiated with their bankers and on this basis they
        consider it appropriate to prepare the accounts on a going concern
        basis.

        2.     Loss per share for the six months ended 30 September 2002 has
        been calculated on 54,275,876 shares being the weighted average number
        of shares in issue during the period. The loss per share for the year
        ended 31 March 2002 was calculated on 52,158,719 weighted average number
        of shares in issue during the period, and for the six months ended 30
        September 2001 it was calculated on 51,691,387.

        Fully diluted earnings per share is calculated by including dilutive
        share options. Since the remaining share option has an exercise price
        that is considerably higher than the market prices during the period,
        the fully diluted loss per share is the same as that calculated on an
        undiluted basis.

        3.     No taxation charge has been included in view of the loss
        sustained and the significant accumulated losses available from previous
        periods.

        4.     The interim report is being sent to shareholders. Further copies
        can be obtained from the Company's registered office, Unit 1, Water Lane
        Industrial Estate, Storrington, Pulborough, West Sussex RH20 3DP.

Independent Review Report to Creightons Plc

Introduction

We have been instructed by the company to review the financial information set
out above and we have read the other information contained in the interim report
and considered whether it contains any apparent misstatements or material
inconsistencies with the financial information.

Directors' responsibilities

The interim report, including the financial information contained therein, is
the responsibility of, and has been approved by, the directors. The Listing
Rules of the Financial Services Authority require that the accounting policies
and presentation applied to the interim figures should be consistent with those
applied in preparing the preceding annual accounts, except where any changes,
and the reasons for them, are disclosed.

Review work performed

We conducted our review in accordance with guidance contained in Bulletin 1999/4
issued by the Auditing Practices Board. A review consists principally of making
enquires of management and applying analytical procedures to the financial
information and underlying financial data and based thereon, assessing whether
the accounting policies and presentation have been consistently applied, unless
otherwise disclosed. A review excludes audit procedures, such as tests of
controls and verification of assets, liabilities and transactions. It is
substantially less in scope than an audit performed in accordance with Auditing
Standards and therefore provides a lower level of assurance than an audit.
Accordingly we do not express an opinion on the financial information.

Review conclusion

On the basis of our review, we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 September 2002.



Chantrey Vellacott DFK

Chartered Accountants




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