Craig & Rose PLC - Interim Results

RNS No 8875x
CRAIG & ROSE PLC
27th October 1998


Unaudited Results for the six months to 30 June 1998
(Historical Cost Convention)
                                                                    12 months 
                                             6 months to                   to
                                       30.06.98       30.06.97       31.12.97
                                          #'000          #'000          #'000

Group Net Turnover                        1,596          1,884          3,711

Group Profit / (Loss) Before Tax             48           (174)          (390)

Corporation Tax                               -              -              -

Preference Dividend                          (2)            (2)            (4)

Profit / (Loss) Attributable to Ordinary
  Stockholders                               46           (176)          (394)

                                          ------         ------         ------
Profit / (Loss) per #1 Unit                7.67p        (29.33p)      (65.66p)


Explanatory

The results for the first six months are in line with expectations following
the significant actions taken last year.  The decline in turnover has come
about as a result of the conscious decision to switch the main focus from
turnover and volume in this very competitive sector to quality and margin.

Whilst the profits for this period are modest and remain fragile the Board
considers the results to be satisfactory in view of the Company's performance
in previous years.  Since the end of the half year there has been no change in
the general pattern of business.  No interim dividend is proposed on the
ordinary shares (1997 - #nil).

Year 2000 Issues

The Directors of Craig & Rose plc are undertaking an assessment of the
potential implications of the Year 2000 upon its systems and that of its key
suppliers and customers.  It is the view of the Directors that additional
costs will be incurred, both of a capital and revenue nature in order to
ensure that there will be no adverse impact upon the operational capability of
the company.  However, initial indications are that these additional costs
will not be significantly greater than the ongoing costs of normal system
upgrades.  Whilst the board cannot guarantee that no Year 2000 problems will
remain, it believes that it will achieve an acceptable state of readiness. 
The Board will provide resources to deal promptly with any issues that might
arise after 1 January 2000.

The figures for the 12 months ended 31 December 1997 are abridged from the
statutory accounts for that year.  These accounts, upon which the auditors
gave an unqualified report, have been delivered to the Registrar of Companies.

Copies of this announcement are being sent to all holders of the Company's
Ordinary and Preference Stock and are available on request at the Company's
Registered Office.


END

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