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Hi-Tec Sports PLC (HTS)

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Thursday 14 September, 2000

Hi-Tec Sports PLC

Interim Results

Hi-Tec Sports PLC
14 September 2000



                       HI-TEC SPORTS PLC
     INTERIM REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2000
                               
Chairman's Statement

Financial Highlights

Turnover  in the six months to 30 June  2000 fell slightly  by
1.6%  compared  with  the equivalent period  in  1999.   Gross
margin  contribution increased by 17.1% for the  same  period.
This   improvement  is  due  to  the  smaller  proportion   of
discounted sales in the mix for the period ended 30 June 2000.
Due  to the resulting increase in gross margin percentage, the
Group is able to report a profit before taxation of £1.3m  for 
the period ended 30 June 2000 (loss £1.2m in 1999).

Trading Overview

The  global market for sports footwear remains challenging  as
trends and fashions change and the retail sector continues  to
adjust  to  changes  in  the levels and patterns  of  consumer
spending.  Many retailers are undergoing restructuring with  a
reduction in floor space for sports footwear in a highly price-
driven  environment.  Despite this global scenario  the  Group
continues to develop the HI-TEC and MAGNUM brands and focus on
five categories - Outdoor, Sport & Athletic, Indoor, Golf  and
MAGNUM  Service  - where the brands continue  to  attract  our
consumers.

UK & Ireland

For the six months to 30 June 2000 sales fell by 11% and margins
by 8.2% compared with the equivalent period in 1999 due to the
very  difficult UK retail market situation which has caused  a
drop in demand for certain categories of sports footwear.

North America

Sales  of  £15m were achieved for the six months to  30  June
2000  representing an increase of 8.2% over the  corresponding
period in 1999.  Gross margin contribution increased 92.6%  to
£5.2m  which reflects both the sales increase and the decrease
in  discounted sales to reduce inventory levels which occurred
in  1999.   Steady  progress is being  made  in  the  recovery
process following the difficulties of the twelve months  ended
30 April 1999.

Continental Europe

Despite  continued  difficulties  in  certain  parts  of   the
European  market-place,  sales  have  increased  by  5.5%  and
operating profits by 88.4% for the six months to 30 June  2000
compared  to  the equivalent period in 1999.  The Spanish  and
Czech  Republic subsidiaries experienced margin  pressures  in
the  quarter  ended 30 June  2000 arising from the devaluation
of the Euro and the Czech Koruna against the US Dollar.

Rest of the World

Despite a 1.9% fall in sales for the six months ended 30 June
2000  there was an operating profit improvement of  41.3%  for
the  six  months  to 30 June  2000 compared to the  equivalent
period   in  1999.   The  South  African  subsidiary  made   a
significant  contribution  to this  improvement  by  achieving
better margins as the turnaround takes effect.

Dividends

In  light  of the offer by Sunningdale Corporation, the  Board
is not proposing to pay an interim dividend.

Frank van Wezel
Chairman


Summarised Profit and Loss Account


                       6 months ended  6 months ended     35 weeks ended
                         30 June 2000    30 June 1999   31 December 1999
                           (unaudited      (unaudited           (audited)
                                  and             and
                          unreviewed)     unreviewed)
                   Notes         £000            £000               £000
                                                     
Turnover               1       43,718          44,450             53,441
                              -------         -------            -------
Operating profit       2        2,016            (365)                98
 
Net interest                                         
 payable                         (744)           (815)              (934)
                              -------         -------            -------
Profit   before                                      
 taxation                       1,272          (1,180)              (836)
Taxation charge        3         (236)            132                (45)
                              -------         -------            -------
                                1,036          (1,048)              (881)
                                                      
Minority interests                (21)             (1)                 1
                              -------         -------            -------
Profit for  the                                      
 period                         1,015          (1,049)              (880)
Dividends proposed                  0               0                  0
                              -------         -------            -------
Retained profit                 1,015          (1,049)              (880)
                              -------         -------            -------
Earnings/(Loss) 
per share              4          1.9            (2.0)              (1.7)
                              -------         -------            -------

Summarised Consolidated Balance Sheet



                                As at           As at              As at
                         30 June 2000    30 June 1999   31 December 1999
                                           (unaudited          (audited)
                           (unaudited             and     
                                  and     unreviewed)
                          unreviewed)
                   Notes         £000            £000               £000
                                                    
Fixed assets                    1,908           2,015              1,857
Stock                          21,169          18,251             21,914
Debtors                        20,038          19,021             16,368
Creditors and                                   
 provisions                   (15,084)        (15,903)           (13,630)
                              -------         -------            -------
Capital employed               28,031          23,384             26,509
                              -------         -------            -------
Shareholders'funds     5       19,952          18,727             18,518
Minority interests                359             311                343
                              -------         -------            -------
Net assets                     20,311          19,038             18,861
Net debt                        7,720           4,346              7,648
                              -------         -------            -------
Capital employed               28,031          23,384             26,509
                              -------         -------            -------
Debt as a percentage of                                          
 capital employed                27.5            18.6               28.9
                              -------         -------            -------


Notes

1. Turnover
                       6 months ended  6 months ended     35 weeks ended
                         30 June 2000    30 June 1999   31 December 1999
                                 £000            £000               £000
                                                    
North America                  15,016          13,875             17,198
UK & Ireland                   16,894          18,981             20,143
Rest of World                   5,614           5,724              8,305
Continental Europe              6,194           5,870              7,795
                              -------         -------            -------
Total                          43,718          44,450             53,441
                              =======         =======            =======
2. Operating profit   
                       6 months ended  6 months ended     35 weeks ended
                         30 June 2000    30 June 1999   31 December 1999      
                       
                                 £000            £000               £000
                                                    
North America                     746          (2,448)              (561)
UK & Ireland                    1,774           2,766                881
Rest of World                     547             387                613
Continental Europe                405             215                575
                              -------          ------            -------
                                3,472             920              1,508
Head office cost               (1,456)         (1,285)            (1,410)
                              -------         -------            -------
Total                           2,016            (365)                98
                              =======         =======            =======
3. Taxation 
                       6 months ended  6 months ended     35 weeks ended
                         30 June 2000    30 June 1999   31 December 1999      
                                        
                                 £000            £000               £000
                                                    
United Kingdom                   (213)           (471)                53
Overseas                          (23)            603                (98)
                              -------         -------            -------
                                 (236)            132                (45)
                              =======         =======            =======
4. Earnings per share                               
                       6 months ended  6 months ended     35 weeks ended
                         30 June 2000    30 June 1999   31 December 1999
                                 £000            £000               £000
                                                    
Profit/(Loss)   after                               
 minority interests             1,015          (1,049)              (880)
Weighted average                                    
 number of ordinary shares     52,319          52,319             52,319
                                                    
                                                      
5. Reconciliation of                                  
movement in shareholders' funds

                             6 months        6 months           8 months
                         30 June 2000    30 June 1999   31 December 1999
                                 £000            £000               £000
Shareholders' funds at                                
the beginning of the                                  
 period                        18,518          18,880             19,318
Profit/(loss)attributable 
 to shareholders                1,015          (1,049)              (880)
Translation differences           419             896                 80
                              -------         -------            -------
Equity shareholders'                                  
 funds at the end of the                               
 period                        19,952          18,727             18,518
                              =======         =======            =======

6. This interim  statement,  which  does not comprise statutory
accounts within the meaning of section 240 of the Companies Act
1985,  has  been  prepared  on the  basis  of  the  accounting
policies set out in the Group's statutory accounts for the  35
week period ended 31 December 1999.

7.  The  statutory accounts for the 35 week  period  ended  31
December 1999, which received an unqualified auditors'  report
and did not contain a statement under section 237(2) or 237(3)
of  the  Companies  Act  1985,  have  been  delivered  to  the
Registrar of Companies in England and Wales.

8.  Copies of the interim statement can be obtained  from  the
Company's registered  office,  HI-TEC  House,  Aviation  Way,
Southend-on-Sea, Essex, SS2 6GH.



                                            

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