Ill.Morris (Salt) - Final Results

RNS No 2707n
ILLINGWORTH MORRIS (SALTAIRE) LIMITED
4th August 1997



                  PRELIMINARY AUDITED CONSOLIDATED RESULTS
                     FOR THE YEAR ENDED 31 MARCH 1997


                                               1997                1996
                                               #000                #000

Turnover                                      800                   -

Cost of sales                                (258)                  -

Gross profit                                  542                   -

Net operating expenses                         (2)                  (3)

Net interest receivable                       100                  100

Profit on ordinary activities before taxation 640                   97

Taxation on profit on ordinary activities    (119)                 (18)

Profit for the financial year                 521                   79

Preference dividends paid and proposed        (61)                 (61)

Transfer to reserves                          460                   18

Earnings per ordinary share                   3.48p               0.14p



Earnings per ordinary share are calculated on 13,200,000 ordinary shares
currently in issue.


The attached financial information does not constitute the company's statutory
accounts for the years ended 31 March 1997 or 1996 but is derived from those
accounts. Statutory accounts for 1996 have been delivered to the Registrar of
Companies, and those for 1997 will be delivered following the company's Annual
General Meeting. The auditors have reported on those accounts; their reports
were unqualified and did not contain statements under Section 237(2) or (3) of
the Companies Act 1985.


During the year the company entered into conditional contracts for the purchase
from a group undertaking and external sale of land at Woodhall which were
completed on 20 May 1997. Full details of the year's activities will be included
in the Annual Report and Accounts to 31 March 1997, which will be despatched
shortly.


A M MURRA        
Group Finance Director
31 July 1997
END