Crest Packaging PLC - Trading Statement

RNS No 5589u
CREST PACKAGING PLC
15th May 1998

                      Crest Packaging plc
                               
                       Trading Statement

The  Board  of  Crest  Packaging plc  ("Crest")  the  flexible
packaging  and folding cartons manufacturer, has reviewed  the
trading performance for the current year.

The  Cartons  Division, including Crest Chapman, continues  to
trade  in  line with the Board's expectations and is ahead  of
the previous year.

The  Board  has undertaken a thorough review of  the  Flexible
Packaging  Division  to identify areas where  savings  can  be
made.  As part of this process Crest has agreed with employees
a  programme  of  redundancies within the  Flexible  Packaging
Division, which will reduce the labour force without  reducing
capacity.   This  is  expected to result  in  a  reduction  of
approximately 10% of the Division's workforce, with savings of
#450,000 per annum for the Division.  The restructuring costs,
estimated  at #250,000, will be charged in the financial  year
just ended.

As  indicated  in  our Interim Results Statement  in  December
1997,  the ongoing strength of Sterling continues to  have  an
adverse effect on trading, particularly in Flexible Packaging,
where  margins  have been squeezed and hard  won  business  in
export  markets  has been lost.  Against this  background  the
Board  expects that Crest will record a profit before tax  and
restructuring  costs, indicated above, slightly  below  market
expectations for the year ended 30 April 1998.

Preliminary results for the year ended 30 April 1998  will  be
announced towards the end of July 1998.

For further information, please contact:

Crest Packaging plc                               01634 234444
Roy Cook, Managing Director
Mike Kenny, Deputy Managing Director

Square Mile Communications                       0171 583 4567
Louise Robson

END

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