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Kayser Bondor Ld. (62HF)

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Monday 12 March, 2007

Kayser Bondor Ld.

Interim Results

Kayser Bondor Ld
12 March 2007


                              Kayser Bondor Limited

                                 Interim Report

                                31 December 2006


                           Registration number 229735



KAYSER BONDOR LIMITED

Interim Report

Explanatory Statement

The directors present their interim report for the six months ended 31 December
2006.

Review of the Business

The results for the period are shown in the profit and loss account. This trend
is anticipated to continue for the remainder of the year, subject to any
unforeseen circumstances. The Company did not trade during the period.

On 6 June 2006 the share capital of the company's parent, Courtaulds Clothing
Brands Limited, was acquired by a subsidiary of Huit Holdings Limited, a company
incorporated in Hong Kong. Following this change in ownership provisions have
been made against the amounts due from group undertakings amounting to
£11,648,000, resulting in a deficit in reserves at 31 December 2006.

The directors have acted to protect the interests of the preference shareholders
as a result in the change in ownership by putting in place a guarantee with a
related company, Kadima Properties (UK) Limited. Under the terms of this
guarantee all future obligations arising in respect of dividend, redemption, buy
back or interest thereon to the Company's preference shareholders will be met as
they fall due to the extent that the Company has insufficient funds to make such
payments.

Given the position of net liabilities at the end of the last financial year, the
directors obtained a further guarantee from Kadima Properties (UK) Limited for a
period of 12 months to ensure that its obligations to repay its liabilities can
be met should they fall due. Accordingly the Directors believe that it remains
appropriate to prepare the financial statements on a going concern basis.

Dividends

The directors do not recommend the payment of an ordinary dividend (2005: £nil).
The preference dividend payable in the six months ended 31 December 2006 was not
paid by the Company due to the deficit on reserves. Notice has been given to the
shareholders that the preference shares will be redeemed on 31 March 2007 at
which date all accrued dividends will be paid, this payment will be financed by
a new issue of ordinary shares.

The contents of this report have been reviewed and approved by the Board of
Directors.

By order of the Board

M Ellis
Director
12 March 2007

KAYSER BONDOR LIMITED


Interim Report

Profit and Loss Account                       Notes    unaudited    unaudited
For the 6 months ended 31 December 2006                     2006         2005
                                                           £'000        £'000

Administrative expenses                                     (127)           -

Operating loss                                              (127)           -

Interest receivable from group undertakings                  127          127

Profit before taxation                                         -          127

Taxation                                                       -            -

Profit after taxation                                          -          127

Preference dividend paid - non-equity             2            -          (22)

Profit attributable to ordinary shareholders                   -          105

Basic and diluted earnings per share              3            -p        0.43 p



Continuing operations

The company did not trade during the period


Statement of total recognized gains and losses

There are no movements in total recognized gains and losses or shareholders'
funds other than those reported in the profit and loss account above.




KAYSER BONDOR LIMITED


Interim Report

Balance Sheet                                         unaudited     unaudited

As at 31 December 2006                                     2006          2005
                                                          £'000         £'000
Current assets

Debtors                                                       -        11,394

Creditors: amounts falling due within one year             (131)         (115)

Net current assets                                         (131)       11,279

Capital and reserves
Called up share capital                                   6,756         6,756
Profit and loss account                                  (6,887)        4,523

Shareholders' funds                                        (131)       11,279

Analysis of Shareholders' funds
Equity                                                     (881)       10,529
Non-equity                                                  750           750
                                                           (131)       11,279


KAYSER BONDOR LIMITED


Interim Report

Cash Flow Statement                                    unaudited     unaudited

For the 6 months ended 31 December 2006                     2006          2005
                                                           £'000         £'000
Net cash outflow from operating activities:
Operating (loss) / profit                                   (127)            -
Increase in debtors                                            -          (105)
                                                            (127)         (105)
Returns on investments and servicing of finance:
Interest received                                            127           127
Non-equity dividends paid                                      -           (22)
                                                               -           105
Movement in cash                                               -             -

The above balances are settled through a related party bank account. In the
Company accounts the transactions are accounted for via movements in
inter-company balances.


KAYSER BONDOR LIMITED


Interim Report

Notes to the Accounts
As at 31 December 2006

1. Basis of preparation
The unaudited results have been prepared in accordance with the accounting
policies set out in the Annual Report for the year ended 30 June 2006.

2. Dividends
No dividends were paid or proposed on the ordinary share capital. The rate of
preference dividend is 6% (2005: 6%).

3. Earnings per share
The calculation of basic and diluted earnings per ordinary share is based on the
profit attributable to ordinary shareholders of £nil (2005: £105,000) and on
24,023,440 (2005: 24,023,440) ordinary shares, being the weighted average number
of ordinary shares in issue during the period. There is no dilution of earnings
per ordinary share.

4. Audit and review
The interim figures for both periods are neither audited nor reviewed.

5. Publication
The interim report will be posted to stock holders and will not be published in
newspapers. Copies of the interim reports are available for issue to the public
on application to the Company Secretary at the registered office:

PO Box 54
Haydn Road
Nottingham
NG5 1DH



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