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Kayser Bondor Ld. (62HF)

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Tuesday 02 November, 2004

Kayser Bondor Ld.

Preliminary Announcement

Kayser Bondor Ld
29 October 2004


                              Kayser Bondor Limited

                            Preliminary Announcement

                                  30 June 2004



Registration number 229735


KAYSER BONDOR LIMITED

Preliminary Announcement


Explanatory Statement

The directors present their preliminary announcement for the year ended 30 June
2004.

These accounts are not the Company's statutory accounts. The auditors have not
yet reported on the accounts for the year ended 30 June 2004, nor have any such
accounts been delivered to the Registrar of Companies. However, the audit work
is complete and no qualification is expected.

The comparative figures contained in this report are for the year ended 30 June
2003. These figures (with the exception of the cash flow statement from which
the Company was exempt under FRS 1) have been extracted from the statutory
accounts, which have been filed with the Registrar of Companies. The auditors'
report on those accounts was unqualified and did not contain any statement under
section 237(2) or (3) of the Companies Act 1985.


Review of the Business

The results for the year are shown in the profit and loss account. The Company
did not trade during the year and the results are consistent with the
corresponding prior year period.

Dividends

The directors do not recommend the payment of an ordinary dividend (2003: £nil).



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

By order of the Board


Signed
A Jagun
Secretary
29 October 2004


KAYSER BONDOR LIMITED


Preliminary Announcement

Profit and Loss Account                           Notes       2004       2003
For the year ended 30 June 2004
                                                             £'000      £'000

Interest receivable from group undertakings                    254        254
Profit before taxation                                         254        254

Taxation                                                         -          -
Profit after taxation                                          254        254

Preference dividend paid - non-equity                 2        (45)       (45)
Profit attributable to ordinary shareholders                   209        209

Basic and diluted earnings per share                  3      0.9 p      0.9 p



Continuing operations

The company did not trade during the period.


Statement of total recognised gains and losses

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



KAYSER BONDOR LIMITED


Preliminary Announcement

Balance Sheet

As at 30 June 2004                                            2004        2003
                                                             £'000       £'000
Current assets
Debtors                                                     11,081      10,872

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

Net current assets                                          10,966      10,757

Capital and reserves
Called up share capital                                      6,756       6,756
Profit and loss account                                      4,210       4,001

Total capital employed                                      10,966      10,757

Analysis of shareholders' funds
Equity                                                      10,216      10,007
Non-equity                                                     750         750

                                                            10,966      10,757



KAYSER BONDOR LIMITED

Preliminary Announcement

Cash Flow Statement
For the year ended 30 June 2004                                2004      2003
                                                              £'000     £'000
Net cash outflow from operating activities:
Operating profit                                                  -         -
Increase in debtors                                            (209)     (209)

                                                               (209)     (209)

Returns on investments and servicing of finance:
Interest received                                               254       254
Non-equity dividends paid                                       (45)      (45)

                                                                209       209

Movement in cash                                                  -         -

The above balances are settled through a parent company bank account, which is
part of the Sara Lee UK Holdings PLC group banking scheme. In the Company
accounts the transactions are accounted for via movements in inter-company
balances.



KAYSER BONDOR LIMITED


Preliminary Announcement

Notes to the Accounts
As at 30 June 2004

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 2003.

2. Dividends

No dividends were paid or proposed on the ordinary share capital. The rate of
preference dividend is 6% (2003: 6%), paid half yearly on 30 June and 31
December.

3. Earnings per share

The calculation of basic and diluted earnings per share is based on the profit
attributable to ordinary shareholders of £209,000 (2003: £209,000) and on
24,023,440 (2003: 24,023,440) shares, being the weighted average number of
shares in issue during the period. There is no dilution of earnings per share.



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