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Jenners,Princes St (32HE)

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Thursday 15 May, 2003

Jenners,Princes St

Preliminary Results

Jenners,Princes Street,Edinburgh Ld
15 May 2003



                           PRELIMINARY GROUP RESULTS

                        FOR THE YEAR TO 2 FEBRUARY 2003



                                     Year to              Year to

                                  2 February 2003      27 January 2002

                                        £000                £000



Turnover (excluding VAT)                47,488           46,830
                                      ==========         ========

Operating Profit                         2,597            3,030

Interest (net)                             360              573
                                      ----------         --------

Profit before Taxation                   2,957            3,603

Taxation (note 2)                          845            1,320
                                      ==========         ========

Profit after Taxation attributed to
members                                  2,112            2,283
                                      ----------         --------

Dividends:



Paid - Preference Shares                   142              142

Paid - Ordinary Shares Interim             689    (82p)     689    (82p)

Proposed - Ordinary Shares Final           622    (74p)     638    (76p)
                                      ----------         --------

                                         1,453            1,469
                                      ==========         ========

Earnings per Ordinary Share              234.5p           254.9p
                                      ==========         ========

(note 3)



Notes
-------

         1.   The information disclosed above does not constitute
              statutory accounts.



         2.   Corporation tax is based on the profit for the year to 2
              February 2003 at 30 per cent (2002 - 30 per cent).



         3.   Earnings per Ordinary Share is based on profit after
              preference dividend and on 840,000 Ordinary Shares in
              issue.



         4.   This information will be sent to shareholders and will be
              available to members of the public at the Company's
              registered office, 48 Princes Street, Edinburgh, EH2
              2YJ.



15 May 2003



Group balance sheet
at 2 February 2003

Fixed assets                               2 February       27 January

                                                 2003             2002

                                                    £                £

Tangible fixed assets                      15,448,231       11,278,871

Investments                                    45,000           45,000
                                             --------         --------

                                           15,493,231       11,323,871

Current assets

Stocks                                      6,277,130        5,821,656

Debtors                                     3,065,095        3,673,122

Cash at bank and in hand                   10,104,656       15,238,427
                                        ---------------   ------------

                                           19,446,881       24,733,205



Creditors: amounts falling due within       5,650,673        7,276,842
one year
                                        ---------------  -------------

Net current assets                         13,796,208       17,456,363



Creditors: amounts falling due after          150,000          300,000
more than one year
                                        ---------------  -------------

Total assets less current                  29,139,439       28,480,234
liabilities
                                        ---------------  --------------



Capital and reserves

Called up share capital                     2,262,400        2,262,400

Capital redemption reserve                     21,578           21,578

Revenue reserves                           26,855,461       26,196,256
                                        --------------   --------------

                                           29,139,439       28,480,234
                                        ---------------  ---------------

Shareholders' funds:

Equity                                     27,717,039       27,057,834

Non-equity                                  1,422,400        1,422,400
                                        --------------   -------------

                               Total       29,139,439       28,480,234
                                        ---------------   ------------




Group statement of cash flows

for the year ended 2 February 2003



                                           2 February       27 January

                                                 2003             2002

                                                    £                £

Net cash inflow from operating              3,622,485        5,152,162
activities



Returns on investment and servicing of
finance

Interest paid                                 (55,632)            (901)

Interest received                             444,525          551,388

Preference dividend paid                     (142,240)        (142,240)
                                        ---------------  ---------------

Net cash inflow from returns on
investments

and servicing of finance                      246,653          408,247
                                        ---------------  ---------------

Taxation

UK Corporation tax paid                    (1,246,027)      (1,494,592)
                                        ---------------  ---------------

Capital expenditure and financial
investment

Payments to acquire tangible fixed         (6,433,516)      (1,565,568)
assets

Receipts from sales of tangible fixed           3,834           33,974
assets
                                        ---------------  ---------------

                                           (6,429,682)      (1,531,594)
                                        ---------------  ---------------



Equity dividends paid                      (1,327,200)      (1,276,800)



Management of liquid resources              6,100,000         (600,000)
                                        ---------------  ---------------

Increase in cash                              966,229          657,423
                                        ---------------  ---------------


Contact:

ELIZABETH BARCLAY 0131 260 2324




                      This information is provided by RNS
            The company news service from the London Stock Exchange
             KKZGFZM                                                                                                                                                                                                                                                        

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