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Kayser Bondor Ld. (62HF)


Monday 29 October, 2001

Kayser Bondor Ld.

Results to 30 June 2001

Kayser Bondor Ld
26 October 2001

At a Board Meeting held on 26 October 2001, the Preliminary Announcement for the
eighteen months ended 30 June 2001 was approved.

Howard Rubenstein
Company Secretary
Tel. 01753 508022

                           Kayser Bondor Limited
                          Preliminary Announcement
                                30 June 2001

Explanatory Statement

The directors present their preliminary announcement for the eighteen months 
ended 30 June 2001.

These accounts are not the company's statutory accounts. The auditors have not 
yet reported on the accounts for the period ended 30 June 2001, nor have any 
such accounts been delivered to the Registrar of Companies. However, the audit 
work is completed and no qualification is expected.

The comparative figures contained in this report are for the year ended 31 
December 1999. These figures (with the exception of the cash flow statement from
which the company was exempt under FRS1) 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 period are shown in the profit and loss account. The company
did not trade during the period and results are consistent with the 
corresponding prior year period.

The directors do not recommend the payment of an ordinary dividend (1999: £nil).

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

By order of the Board

H Rubenstein
26 October 2001

Profit and Loss Account
For the 18 months ended 30 June 2001         Notes     18 months      12 months
                                                          ended          ended
                                                        30 June    31 December
                                                           2001           1999
                                                          £'000          £'000 

Interest receivable from group undertakings                 381            254

Profit before taxation                                      381            254
Taxation                                                      -              -

Profit after taxation                                       381            254

Preference dividend paid - non-equity           2           (68)           (45)

Profit attributable to ordinary shareholders                313            209

Basic and diluted earnings per share            3          1.30 p         0.87 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 or losses or shareholders'   
  funds other than those reported in the profit and loss account above.

Balance Sheet                                            30 June    31 December
As at 30 June 2001                                          2001           1999
                                                           £'000          £'000

Current assets                        
  Debtors                                                 10,454         10,141

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

Net current assets                                        10,339         10,026

Capital and reserves
  Called up share capital                                  6,756          6,756
  Profit and loss account                                  3,583          3,270

Shareholders' funds:
  Equity                                                   9,589          9,276
  Non-equity                                                 750            750

                                                          10,339         10,026

Cash Flow Statement
For the 18 months ended 30 June 2001                   18 months      12 months
                                                           ended          ended
                                                         30 June    31 December
                                                            2001           1999
                                                           £'000          £'000

Net cash outflow from operating activities:
  Operating profit                                             -              -
  Increase in debtors                                       (313)          (174)

                                                            (313)          (174)

Returns on investments and servicing of finance:
  Interest received                                          381            254
  Non-equity dividends paid                                  (68)           (45)

                                                             313            209

  Taxation paid                                                -            (35)

Movement in cash                                               -              -

Notes to the Accounts
As at 30 June 2001

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 31 December 1999.

2. Dividends 
   No dividends were paid or proposed on the ordinary share capital. The rate of
   preference dividend is 6% (1999: 6%), paid half yearly on 30 June and 31     

3. Earnings per share 
   The calculation of basic and diluted earnings per share is based on the      
   profit attributable to ordinary shareholders of £313,000 (1999: £209,000) and
   on 24,023,440 (1999: 24,023,440) shares, being the weighted average number of
   shares in issue during the period. There is no dilution of earnings per      


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