Final Results

RNS Number:4122R
VTR PLC
29 October 2003

VTR plc announces its results for the year to 31 August 2003. The highlights
are:-


*         Turnover up 7% to #23,990,743

*         Profit before tax of #525,070

*         Gearing down from 120% to 113%

*         Improvement in trading in second half



Making the announcement Chairman Philip Lovegrove said:

"Given the market conditions that existed during the year under review, the
results reflect a considerable achievement by the businesses in remaining
competitive in their individual markets and justify your Board's long term
commitment to widening the base of the Group's activities"


For further information please contact:

John Banks, Managing Director, VTR plc                     020 7437 0026
Ryszard Bublik, Mantra Public Relations                    020 7907 7800



                         CHAIRMAN'S STATEMENT



In my statement which accompanied the interim results for the six months to 28
February 2003, I stated that, after a disappointing few months, all our
companies were reporting a modest improvement in trading.   I am pleased to say
that this trend continued during the second six months with the Group making a
profit before tax for the year ended 31 August 2003 of #525,070. This compares
with last year's profit before tax, and an exceptional item, of #2,753,545 and a
loss after the exceptional item of #1,319,506. It also represents a pleasing
outcome against the half year when we reported a profit before tax of #53,881.



Turnover increased during the year to #23,990,743 from #22,343,326.  This was
due mainly to income earned by new profit centres, including K