Final Results

RNS Number:7047U
Albion PLC
28 January 2004

The following is the preliminary announcement of the unaudited results of Albion
PLC and its subsidiaries for the year ended 30 September 2003. The financial
statements for the year ended 30 September 2002 received an unqualified audit
opinion and were filed with the Registrar of Companies. The comparative figures
included in this announcement are extracted from those financial statements and
adjusted to reflect the implementation of FRS17.


Albion Plc
Consolidated profit and loss account
for the year ended 30 September 2003


                                                                                 2003                2002
                                                                                #'000               #'000
                                                                                                 Restated
Turnover                                                                       16,272              17,929
Cost of sales                                                                (13,942)            (15,574)

Gross profit                                                                    2,330               2,355
Distribution costs                                                            (1,185)             (1,169)
Administrative expenses                                                         (661)               (629)

Operating profit                                                                  484                 557
Share of profits of associated undertakings                                       124                 155
Amounts written off investments-reversal                                            -                  20
Other finance charges                                                            (22)                (10)

Profit on ordinary activities before taxation                                     586                 722
Tax on profit on ordinary activities                                             (13)                (55)

Profit for the financial year                                                     573                 667
Dividends paid and proposed - equity                                            (178)               (193)

Retained profit for the financial year                                            395                 474

Earnings per share and dividends
Earnings per share                                                             16.42p              18.58p
Dividends per share                                                             5.10p               5.50p



Turnover was #1657k down on the prior year ended 30 September 2002 reflecting
the move into administration of one of our major customers, Ciro Citterio. The
knock on effect on the volumes produced in our overseas associates is reflected
in the lower share of profits at #124k compared with #155k in the previous year.
The restatement of the prior year results and balance sheet reflects the
implementation in full of revised pensions accounting incorporated in FRS17. The
taxation charge for the year includes share of taxation of associated
undertakings #13k (2002 #6k). The directors are recommending a final dividend of
4.3p making a total for the year of 5.1p.


The Company's AGM will be held at Rudding Park, Harrogate on Thursday 18 March
2004. Subject to confirmation by members at the AGM, the proposed final dividend
will be paid on 7 April 2004 to shareholders on the register on 12 March 2004.





Albion PLC
Consolidated Balance sheet at 30 September 2003

                                                                          2003           2002
                                                                                     Restated
                                                                         #'000          #'000
Fixed assets
Tangible assets                                                            609            697
Investments                                                              1,103          1,045
                                                                         1,712          1,742
Current assets
Stocks                                                                   2,013          2,060
Debtors                                                                  2,906          2,884
Investments                                                                  -          2,000
Cash at bank and in hand                                                 1,017            214
                                                                         5,936          7,158
Creditors: amounts falling due within one year                         (1,656)        (1,563)

Net current assets                                                       4,280          5,595

Total assets less current liabilities                                    5,992          7,337
Pension Liability                                                        (882)         (2283)

Net assets                                                               5,110          5,054

Capital and reserves
Called up share capital                                                    730            750
Capital Redemption Premium                                                  20              -
Profit and loss account                                                  4,360          4,304

Equity shareholders' funds                                               5,110          5,054





Albion PLC
Consolidated cash flow statement
for the year ended 30 September 2003
                                                                                             2003          2002
                                                                                            #'000         #'000

Net Cash (Outflow)/Inflow from operating activities                                       (1,042)           737

Dividends received from associated undertakings                                               127           107

Returns on investments and servicing of finance
Interest received                                                                              55            88
Interest paid                                                                                   -           (1)
Interest element of finance lease rentals                                                     (1)           (4)
                                                                                               54            83
Taxation
Taxation paid                                                                                (60)          (40)
Taxation refund                                                                                15            67
                                                                                             (45)            27
Capital expenditure and financial investments
Purchase of fixed assets                                                                     (17)          (91)
Net proceeds on sale of tangible fixed assets                                                  11             9
                                                                                              (6)          (82)
Equity dividends paid                                                                       (192)         (213)

Net cash (outflow)/inflow before management of liquid resources and financing             (1,104)           659

Management of liquid resources
Decrease/(Increase) in short term deposits                                                  2,000         (534)

Financing
Purchase of shares                                                                           (71)             -
Capital repayment of finance lease                                                           (12)          (28)

Increase in cash in the year                                                                  813            97






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