Interim Results

RNS Number:1319I
7 Group PLC
28 February 2003

7 Group PLC
Interim results for the six months ended 30 November 2002

Chairman's Statement

As previously announced, and following the period under review the Company
raised #425,000 through placings of new ordinary shares.  Since the period end
the Company has raised a further Euro 60,000 via a placing.  These funds will
provide the Company with the working capital necessary to enable the Directors
to continue to examine prospective acquisition targets.

To enhance the Company's ability to pursue suitable opportunities, the Company
has appointed a major European based stockbroker to assist in possible
acquisition fundraisings.

I look forward to being in a position to make further announcements in the near
future.

Mario Palmonella
Chairman



CONSOLIDATED PROFIT & LOSS ACCOUNT
SIX MONTHS to 30 NOVEMBER 2002

                                                                                                             
                                                                                                                   
      CONSOLIDATED PROFIT & LOSS ACCOUNT                                                                           
      SIX MONTHS to 30 NOVEMBER 2002                                                                               
                                                               Six months ended    Six months ended     Year ended 
                                                               30 November 2002    30 November 2001    31 May 2002 
                                                                    (unaudited)         (unaudited)      (audited) 
                                                                           #000                #000           #000 
      Turnover                                                                0                   1              1 
      Cost of sales                                                          -                   -               0 
      Gross Profit                                                            0                   1              1 
      Administrative expenses                                              (63)                (43)           (33) 
      Operating profit/(loss)                                              (63)                (42)           (32) 
      Profit on disposal of business                                         -                   -               0 
      Profit/(loss) on ordinary activities before interest                 (63)                (42)           (32) 
      Net interest payable                                                  (0)                 (0)            (0) 
      Profit/(loss) for the financial period                               (63)                (42)           (32) 
      Earnings/(loss) per share                                         (0.02p)             (0.04p)        (0.03p) 
                                                                                                                   
                                                                                                                   
      CONSOLIDATED BALANCE SHEET                                                                                   
      SIX MONTHS to 30 NOVEMBER 2002                                                                               
                                                               30 November 2002    30 November 2001    31 May 2002 
                                                                    (unaudited)         (unaudited)      (audited) 
                                                                           #000                #000           #000 
      Fixed assets                                                                                                 
      Tangible assets                                                        -                   -              -  
      Current assets                                                                                               
      Stock                                                                  -                   -              -  
      Debtors & prepayments                                                   0                  27             26 
      Cash at bank and in hand                                                4                   1              0 
                                                                              4                  28             26 
      Creditors                                                                                                    
      Amounts falling due within one year                                 (243)               (325)          (314) 
      Net current liabilities                                             (238)               (297)          (287) 
      Total assets less current liabilities                               (238)               (297)          (287) 
      Capital and reserves                                                                                         
      Share capital                                                       3,143               3,030          3,030 
      Share premium account                                               1,278               1,278          1,278 
      Profit and loss account                                           (4,659)             (4,605)        (4,595) 
      Merger reserve                                                         -                   -              -  
                                                                          (238)               (297)          (287) 
                                                                                                                   
                                                                                                                   
      For further enquiries:                                                                                       
      Mario Palmonella, Chairman,                                                                                  
      7 Group plc,                                                                                                 
      52/54 Broadwick Street,                                                                                      
      London, W1V 1FF                                                                                              
      Tel: [phone]                                                                                             
                                                                                                                   
      Richard Evans,                                                                                               
      Nominated Adviser,                                                                                           
      Brewin Dolphin Securities Ltd,                                                                               
      PO Box 512,                                                                                                  
      National House,                                                                                              
      36 Ann Street,                                                                                               
      Manchester                                                                                                   
      M60 2EP                                                                                                      
      Tel: [phone]                                                                                           
 

                      This information is provided by RNS
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