Final Results

Smart(J.)&Co(Contractors) PLC
04 November 2002


J SMART & CO (CONTRACTORS) PLC

AND SUBSIDIARY COMPANIES

ACCOUNTS FOR THE YEAR ENDED 31 JULY 2002

PRELIMINARY STATEMENT

As forecast at the interim stage, profits for the second half of the year
exceeded first half profits resulting in a Group profit for the full year of
£4,613,000. This compares with a profit for the previous year of £3,624,000.

The results of J Smart & Co (Contractors) PLC and its subsidiary companies for
the year ended 31 July 2002 are as follows:


                                                                        2002                       2001
                                                                £'000          £'000          £'000          £'000
Turnover, as adjusted for the change in stocks
of finished goods and work in progress                                        17,368                        18,453

Own work capitalised                                                           3,625                         1,239

Other operating income                                                         4,948                         4,563

                                                                              25,941                        24,255

Group Profit on ordinary activities before taxation                            4,613                         3,624

Tax on Profit on ordinary activities                                           1,160                           989

Group Profit on ordinary activities after taxation                             3,453                         2,635

Dividends (Note 2)

Interim paid 2.90p Nett
(2001 - 2.80p)                                                    143                           138

Proposed Final 8.50p Nett
(2001 - 8.20p)                                                    431                           404
                                                                                 574                           542 

Retained Profit for the Year                                                   2,879                         2,093

Earnings per share                                                             34.25p                        26.14p


Notes:

1.         The above profit and loss account is an abridged version of the Company's full consolidated accounts
           which have not yet been filed with the Registrar of Companies and which have not yet been reported on
           by the Company's auditors.

2.         Certain shareholders have waived their rights to the interim dividend and the proposed final dividend
           aggregating £576,000.

3.         There is no difference between the rate of earnings per share when calculated on the fully diluted or
           undiluted basis.

4.         The Annual General Meeting will be held in Edinburgh on 19 December 2002 and it is intended to pay the
           proposed final dividend, if approved, on 23 December 2002 to members on the register at close of
           business on 6 December 2002.


BY ORDER OF THE BOARD
Secretary

4 November, 2002



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