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VHE Holdings PLC (VHE)

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Tuesday 12 June, 2001

VHE Holdings PLC

Preliminary Results - Part 2

VHE Holdings PLC
12 June 2001



PART 2                                                                   
          

                               VHE HOLDINGS PLC                               
                        
                        GROUP PROFIT AND LOSS ACCOUNT                         
                       For the Year Ended 31 March 2001                       

                                                                              
                                                      Notes     2001      2000
                                                               £'000     £'000

Turnover                                                      47,911    45,703
Cost of sales
excluding exceptional items                                 (41,514)  (41,336)
exceptional items                                        2       161   (4,989)

Total cost of sales                                         (41,353)  (46,325)

Gross profit/(loss)                                            6,558     (622)
Net operating expenses
excluding exceptional items                                  (5,112)   (4,964)
exceptional items                                        2      (57)   (1,739)

Total net operating expenses                                 (5,169)   (6,703)
Operating profit/(loss) before exceptional items               1,285     (597)
Total exceptional items                                  2       104   (6,728)

Operating profit/(loss)                                        1,389   (7,325)
Interest  and similar income                                      59        49
Interest payable and similar charges                           (411)     (544)

Profit/(loss) on ordinary activities before taxation           1,037   (7,820)
Tax credit on profit/(loss) on ordinary activities       3         5       468
          
Profit/(loss) for the financial year                           1,042   (7,352)
Dividends                                                          -         -

Retained profit/(loss) for the year                            1,042   (7,352)

Basic and fully diluted earnings/(loss) 
per ordinary share                                       4       3.2   (22.9p)
Dividend per ordinary share                                      Nil       Nil


All activities relate to continuing operations.

The Group has no recognised gains and losses other than the profits above and
therefore no separate statement of total recognised gains and losses has been
presented.

There is no difference between the profit on ordinary activities before
taxation and the retained profit for the year stated above and their
historical cost equivalents.
 
                                                                              
                             GROUP BALANCE SHEET                              
                               At 31 March 2001                               

                                                               2001       2000
                                                              £'000      £'000
Fixed assets
Tangible assets                                               4,672      5,114

                                                              4,672      5,114
Current assets
Stock                                                           986      1,077
Debtors: amounts falling due after more than one year           689        979
Debtors: amounts falling due within one year                  9,155      9,930
Cash at bank and in hand                                          5      1,129

                                                             10,835     13,115

Creditors: Amounts falling due within one year              (9,550)   (12,565)

Net current assets                                            1,285        550

Total assets less current liabilities                         5,957      5,664

Creditors: amounts falling due after more than one year       (263)      (947)
Provisions for liabilities and charges                        (801)      (840)
Accruals and deferred income                                  (154)      (180)

                                                            (1,218)    (1,967)

Net assets                                                    4,739      3,697

Capital and reserves
Called up share capital                                       3,210      3,210
Profit and loss account                                       1,529        487

Equity shareholders' funds                                    4,739      3,697



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