AGM Statement

RNS Number:2229R
Jourdan PLC
23 October 2003

JOURDAN PLC
23 OCTOBER 2003


                           JOURDAN PLC ("Jourdan")



                                 AGM STATEMENT



At the Jourdan Annual General Meeting held earlier today the Chairman made the
following statement:


"At this stage it is usual for me to update the meeting on current trading.  My
Chairman's Statement demonstrated that the year to 30 June 2003 was one of
substantial improvement and net debt was reduced by #3.4m. to #4.9m.  The assets
of the troublesome and loss making subsidiary, Lion Brush Limited, were sold for
a cash consideration of #360,000 in July 2002.  However, the most dramatic
improvement was achieved at our largest subsidiary, Suncrest Surrounds Limited.
This improvement has continued into the current financial year with sales and
operating profits well in excess of budget and substantially above last year.
Our most profitable subsidiary, Westfield Medical Limited, is also currently
showing a substantial improvement over budget and last year.  Progress continues
to be made at John Corby Limited and Nelsons Labels (Manchester) Limited and
trading is satisfactory.



Moreover, we have continued to carefully monitor costs centrally and across the
Group and consolidated overheads in the first quarter are lower than last year.
The continuing low interest rate environment, together with improved banking
terms which we have been able to negotiate as a result of the Group's improved
profitability, means that interest costs are currently 36% below last year.



In summary, Group sales and profitability show a marked improvement compared to
budget and last year and I expect to be able to report further significant
progress at the time of the interim results and beyond."



Each of the resolutions considered at the meeting were duly passed.




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