Interim Results - Turnover Marginally Down

SLINGSBY (HC) PLC
15 October 1999


Report for the half year to 30 June 1999

Statement by the Chairman

The  lack  of  confidence  in  our marketplace is reflected  in  our  somewhat
disappointing  results  for the first six months of the  year,  with  turnover
marginally  down  on  the  same  period  last  year  and  profits  before  tax
significantly lower than last year's record figure.

The   decrease  in  business  confidence,  which  I  mentioned  in  my  recent
statements, has adversely affected our order levels, which are currently still
behind last year's figures.  We are of the opinion that this is mainly due  to
a  general downturn within our market sectors.  We feel  that it is too  early
to  assess  the  full extent of the impact of our targeted mailing  campaigns,
although they have had the positive effect of increasing the level of  contact
made  with  our existing and potential customers.  In addition to the  mailing
campaigns, we are to introduce a Call Centre at our Head Office in Bradford to
enhance our direct communication with our customers.

Whilst  our  investment  in  a  formalised marketing  strategy  has  obviously
increased our overhead costs, this investment is part of a medium to long term
strategy which aims to improve our market share.

The  Directors  have  declared an Interim Dividend of 3.0p  (1998:  4.0p)  per
ordinary  share.   This  will  be  paid on  4  January  2000  to  shareholders
registered on 3 December 1999.

The  unaudited results for the half year ended 30 June 1999 and 30  June  1998
are set out on the attached.  The results for the year to 31 December 1998 are
an  abridged  version of the full accounts that received an unqualified  audit
report and have been filed with the Registrar of Companies.

This  interim  release  has been prepared in accordance  with  the  accounting
policies  adopted  for  and set out in the accounts for  the  year  ending  31
December 1998.

This  report,  which is to be sent to all shareholders, was  approved  by  the
Board  of Directors on 15 October 1999 and is available for inspection at  the
Company's registered office.

J F Slingsby
Chairman

15 October 1999


Registered Office
Preston Street, Bradford, West Yorkshire  BD7 1JF
H C Slingsby plc

Profit and loss account for the six months ended 30 June 1999

                                                           
                             Unaudited      Unaudited      Audited
                             Half  Year     Half  Year     Year
                             to             to             to
                             30/6/99        30/6/98        31/12/98
                                                           
                             £'000          £'000          £'000
                                                           
Turnover - continuing                                
operations                   7,911          8,100          15,856
                             -----          -----          -----
Operating profit             298            455            820
                                                           
Interest receivable          42             49             99
                             -----          -----          --
Profit on ordinary                                         
operations before taxation   340            504            919
                                                           
Taxation                                                   
                             (102)          (156)          (252)
                             -----          -----          -----
Profit attributable to                                     
shareholders                 238            348            667
                             -----          -----          -----
                                                           
Dividends                    30             40             240
                             -----          -----          -----
Earnings per share           23.8p          34.8p          66.7p
                             -----          -----          -----

The  company does not have any recognised gains or losses than those  recorded
above  within the profit and loss account, and therefore no separate statement
of total recognised gains and losses has been presented.

H C Slingsby plc

Balance Sheet as at 30 June 1999

                                                           
                             Unaudited      Unaudited      Audited
                             Half  Year     Half  Year     Year
                             to             to             to
                             30/6/99        30/6/98        31/12/98
                             £'000          £'000          £'000
                                                           
Fixed assets                 1,661          1,313          1,749
                                                           
Investments                  300            -              300
                                                           
Current assets                                             
  Stock                      1,442          1,535          1,343
  Debtors                    2,489          2,935          2,624
  Cash at bank and in hand   1,863          1,843          1,517
                                                           
Creditors: Amounts falling                                 
due within one year          (3,190)        (3,403)        (3,165)
                             -----          -----          -----
                                                           
Net current assets           2,604          2,910          2,319
                             -----          -----          -----
Total assets less current                                  
liabilities                  4,565          4,223          4,368
                                                           
Provisions for liabilities                                 
and charges
Deferred taxation            (32)           (16)           (42)
                             -----          -----          -----
Net assets                   4,533          4,207          4,326
                                                           
                             ======         ======         ======
Capital and reserves                                       
                                                           
Called up share capital      250            250            250
                                                           
Profit and loss account      4,283          3,957          4,076
                                                           
                             ======         ======         ======
Equity shareholders' funds   4,533          4,207          4,326
                                                           
                             ======         ======         ======


H C Slingsby plc

Cash Flow Statement for the half year ended 30 June 1999

                                           Unaudited 
                             Unaudited     Half Year to    Audited
                             Half  Year    30/6/98         Year
                             to                            to
                             30/6/99                       31/12/98
                             £'000         £'000           £'000
                                                           
Operating activities                                       
Net cash inflow from                                    
operating activities         429           740             1,466
                                                           
Returns on investments and                                 
servicing of finance                       
Interest received            43             49                97
                                                           
Taxation                                                   
UK Corporation tax paid     (10)            (7)             (187)
                                                           
Capital expenditure and                                    
financial investment
Purchase of tangible fixed                                 
assets                     (109)          (146)             (727)
Purchase of investment       -              -               (300)
Sales of tangible fixed                                      
assets                       33             16               127
                          -----           -----             -----
Net cash outflow from                                      
capital expenditure and     (76)          (130)             (900)
financial investment
                                                           
Equity dividends paid       (40)           (30)             (180)
                            -----          ------          -----
Net cash inflow before                                         
financing                   346            622               296
                                                           
Management of liquid                                       
resources
Increase in short-term                      
deposits with banks          -              -               (250)
                            -----          ------           -----
Increase in cash in the                                      
period                       346           622                46
                                                           
                            ======         ======           ======

H C Slingsby plc

Cash Flow Statement Notes for the half year ended 30 June 1999

1.    Reconciliation  of  operating profit to net cash inflow  from  operating
      activities


                             Unaudited    Unaudited        Audited
                             Half  Year   Half Year        Year
                             to           to               to
                             30/6/99      30/6/98          31/12/98
                             £'000        £'000            £'000
                                                           
Net cash inflow from                                
operating activities
Operating profit             298          455              820
Depreciation charges         175          169              342
Profit  on sale of tangible                                
fixed assets                 (13)          (5)             (78)
(Increase)/decrease in                                
stocks                       (99)         (30)             163
Decrease/(increase) in                                
debtors                      135         (234)              80
(Decrease)/increase in                                
creditors                    (67)         385              139
                            -----        ------           -----
Net cash inflow from                            
operating activities         429          740            1,466
                                                           
                            ======       ======          ======

2.   Analysis of changes in net cash


                             At        Cash Flows        At 30/6/99
                             1/1/99                                  
                             £'000     £'000             £'000
                                                           
Cash at bank and in hand                                   
                             1,517     346               1,863
                                                           
                             =====     =====             =====