Creston PLC - Stmt re Share Price Movement

RNS No 8973f
CRESTON PLC
3 September 1999


The directors of Creston plc are pleased to announce a profits estimate of
results for the year ended 30 June 1999.  These results are better than those
expected by the directors and have been released in light of the recent movement
in the company's share price.  The profits estimate is unaudited and has been
extracted from the company's management accounts for the year ended 30 June
1999, which have been approved by the Board.  The comparative figures have been
taken from the audited accounts for the year ended 30 June 1998.

                                                  Year             Year
                                                 ended            ended
                                             30th June        30th June
                                                  1999             1998

                                       Notes      #000             #000


Turnover                                         6,395           11,348


Profit on ordinary activities
before taxation                                   1,740           1,803

Tax credit on profit on ordinary
activities                                          219              -

Profit on ordinary activities after 
taxation                                  1       1,959           1,803


Earnings per share                        2       22.0p           19.5p


Net asset value per share                 3       #1.87           #1.29

Notes                         

1  As noted in the Interim Report for the year ended 30 June 1999, the directors
intend to propose a dividend for the year ended 30 June 1999 of 3p per ordinary
share.

2  Earnings per share is based on the profit on ordinary activities after
taxation of #1,959,000 (1998 - #1,803,000) and the weighted average number of
ordinary shares in issue during the year of 8,891,083 (1998 - 9,259,465).

3  Net asset value per share is based on the net assets at 30 June 1999 of
#16,265,000 (1998 - #11,789,000) divided by the number of shares in issue at 30
June 1999 of 8,682,015 (1998 - 9,162,015 shares).  Net assets at 30 June 1999
are calculated after taking account of a net surplus of #3,182,000 arising from
a directors' revaluation of the group's investment properties.


END

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