RNS Number:6794L
Brammer PLC
29 May 2003



29 May 2003



                                    2003 AGM

                              CHAIRMAN'S STATEMENT





In the Preliminary Results announcement on 11 March 2003, I indicated to
shareholders that I believed the Group was more stable than twelve months ago
and that "provided our markets reflect a similar stability during 2003 we would
expect to make progress."



Since then, the markets for Brammer Industrial Services (BIS) have remained
tough and highly competitive. Nonetheless, we have continued to gain market
share and reduce costs, which has resulted in improved sales and operating
profits for the first four months of 2003. On a sales per working day basis to
the end of April, revenues in BIS were 3.5% ahead of the same period in 2002.



In Livingston, our computer, calibration and services businesses have maintained
consistent volumes. Test equipment is continuing to see some erosion in sales
and a deterioration in market conditions. Substantial cost reductions in
Livingston are mitigating this further downturn, resulting in the division's
rate of loss in the first half of 2003 being similar to that experienced in the
second half of 2002.   We will therefore take an exceptional charge of #5
million at the half year to accelerate the necessary cost reductions and bring
Livingston back into profitability.



We are encouraged by the excellent progress being made in Brammer Industrial
Services. The focus in Livingston remains on downsizing the cost base and
further de-risking the business.  Cash flow  continues to be satisfactory.  The
outlook for the year is for a continuation of the current trading conditions
with little expectation of any improvement in the markets which Brammer serves.






                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

AGMILFSLERIAFIV