Preliminary Results -6-

+-----------------------------------------------------+----------+--+----------+ 
| Adjustment in respect of prior years                |    (261) |  |    (443) | 
+-----------------------------------------------------+----------+--+----------+ 
| Total tax charge for the year                       |      212 |  |    1,037 | 
+-----------------------------------------------------+----------+--+----------+ 
 
 
The Group has tax losses available to be carried forward for offset against the 
future taxable profits of certain Group companies amounting to approximately 
GBP1.5 million (2008: GBP1.3 million). A deferred tax asset in respect of these 
losses, amounting to GBP0.2 million (2008: GBP0.4 million), has been recognised 
at the year end as the Group believes that there will be future taxable profits 
against which the losses will be relieved. 
 
 
8. Dividends 
The Directors recommend the payment of a final dividend of 4.5p per share 
totalling GBP782,000, and subject to approval, this is expected to be paid on 4 
December 2009 to shareholders on the register at 6 November 2009. This will give 
a total dividend for the year of 7.0p (2008: 7.0p). 
 
 
9. Earnings per Ordinary share 
+------------------------------------------------------+----------+--+----------+ 
|                                                      |     2009 |  |     2008 | 
|                                                      |    p per |  |    p per | 
|                                                      |    share |  |    share | 
+------------------------------------------------------+----------+--+----------+ 
|                                                      |          |  |          | 
+------------------------------------------------------+----------+--+----------+ 
| Basic and diluted earnings per Ordinary share        |      1.7 |  |     21.6 | 
+------------------------------------------------------+----------+--+----------+ 
| Underlying basic and diluted earnings per Ordinary   |      8.2 |  |     18.9 | 
| share                                                |          |  |          | 
+------------------------------------------------------+----------+--+----------+ 
 
 
Basic and diluted earnings per Ordinary share 
The calculation of basic earnings per Ordinary share is based on the profit 
after taxation for the year of GBP259,000 (2008: GBP3,357,000) and on 15,528,934 
shares, being the weighted average number of shares in issue and ranking for 
dividend during the year (2008: 15,528,934). 
The calculation of diluted earnings per Ordinary share is based on the profit 
after taxation for the year of GBP259,000 (2008: GBP3,357,000) and on 15,528,934 
shares, being the weighted average number of shares that would be in issue after 
conversion of all the dilutive potential Ordinary shares into Ordinary shares 
(2008: 15,535,537). 
 
 
+------------------------------------------+----------+--+------------+--+----------+ 
|                                          |   Profit |  |   Weighted |  | Earnings | 
|                                          |    after |  |    average |  |      per | 
|                                          |      tax |  |     number |  | Ordinary | 
|                                          |  GBP'000 |  |         of |  |    share | 
|                                          |          |  |   Ordinary |  |    p per | 
|                                          |          |  |     shares |  |    share | 
+------------------------------------------+----------+--+------------+--+----------+ 
| Year ended 31 May 2009                   |          |  |            |  |          | 
+------------------------------------------+----------+--+------------+--+----------+ 
| Basic earnings per Ordinary share        |      259 |  | 15,528,934 |  |      1.7 | 
+------------------------------------------+----------+--+------------+--+----------+ 
| Dilutive potential Ordinary shares       |        - |  |          - |  |        - | 
| arising from share options               |          |  |            |  |          | 
+------------------------------------------+----------+--+------------+--+----------+ 
| Diluted earnings per Ordinary share      |      259 |  | 15,528,934 |  |      1.7 | 
+------------------------------------------+----------+--+------------+--+----------+ 
| Year ended 31 May 2008                   |          |  |            |  |          | 
+------------------------------------------+----------+--+------------+--+----------+ 
| Basic earnings per Ordinary share        |    3,357 |  | 15,528,934 |  |     21.6 | 
+------------------------------------------+----------+--+------------+--+----------+ 
| Dilutive potential Ordinary shares       |        - |  |      6,603 |  |        - | 
| arising from share options               |          |  |            |  |          | 
+------------------------------------------+----------+--+------------+--+----------+ 
| Diluted earnings per Ordinary share      |    3,357 |  | 15,535,537 |  |     21.6 | 
+------------------------------------------+----------+--+------------+--+----------+ 
 
 
 
 
Underlying basic and diluted earnings per Ordinary share 
The calculation of underlying basic earnings per Ordinary share, which the 
Directors consider gives a useful additional indication of the underlying 
performance of the Group, is based on the profit after taxation for the year, 
but before deducting exceptional items, goodwill reduction and share-based 
payments charge/(credit) (net of tax) of GBP1,272,000 (2008: GBP2,942,000) and 
on 15,528,934 shares, being the weighted average number of shares in issue and 
ranking for dividend during the year (2008: 15,528,934). 
 
 
 
 
 
 
+-----------------------------------------+----------+--+------------+--+----------+ 
|                                         |   Profit |  |   Weighted |  | Earnings | 
|                                         |    after |  |    average |  |      per | 
|                                         |      tax |  |     number |  | Ordinary | 
|                                         |  GBP'000 |  |         of |  |    share | 
|                                         |          |  |   Ordinary |  |    p per | 
|                                         |          |  |     shares |  |    share | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Year ended 31 May 2009                  |          |  |            |  |          | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Basic earnings per Ordinary share       |      259 |  | 15,528,934 |  |      1.7 | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Exceptional items                       |    1,350 |  |          - |  |      8.7 | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Impact of exceptional items on tax      |    (342) |  |          - |  |    (2.2) | 
| charge for the year                     |          |  |            |  |          | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Share-based payments charge             |        7 |  |          - |  |        - | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Impact of share-based payments charge   |      (2) |  |          - |  |        - | 
| on tax charge for the year              |          |  |            |  |          | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Underlying basic earnings per Ordinary  |    1,272 |  | 15,528,934 |  |      8.2 | 
| share                                   |          |  |            |  |          | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Year ended 31 May 2008                  |          |  |            |  |          | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Basic earnings per Ordinary share       |    3,357 |  | 15,528,934 |  |     21.6 | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Goodwill reduction                      |      141 |  |          - |  |      0.9 | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Share-based payments credit             |    (805) |  |          - |  |    (5.2) | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Impact of share-based payments credit   |      249 |  |          - |  |      1.6 | 
| on tax charge for the year              |          |  |            |  |          | 
+-----------------------------------------+----------+--+------------+--+----------+ 
| Underlying basic earnings per Ordinary  |    2,942 |  | 15,528,934 |  |     18.9 | 
| share                                   |          |  |            |  |          | 
+-----------------------------------------+----------+--+------------+--+----------+ 
The calculation of underlying diluted earnings per Ordinary share is based on 
the profit after taxation for the year, but before deducting exceptional items, 
goodwill reduction and share-based payments charge/(credit) (net of tax) of 
GBP1,272,000 (2008: GBP2,942,000) and on 15,528,934 shares being the weighted 
average number of shares that would be in issue after conversion of all the 
dilutive potential Ordinary shares into Ordinary shares (2008: 15,535,537). 
 
 
+--------------------------------------+--+--+----------+--+------------+--+----------+ 
|                                      |  |  |   Profit |  |   Weighted |  | Earnings | 
|                                      |  |  |    after |  |    average |  |      per | 
|                                      |  |  |      tax |  |     number |  | Ordinary | 
|                                      |  |  |  GBP'000 |  |         of |  |    share | 
|                                      |  |  |          |  |   Ordinary |  |    p per | 
|                                      |  |  |          |  |     shares |  |    share |