Interim Results

RNS Number:1846S
Recycled Waste PLC
28 February 2002

Recycled Waste PLC (formerly Alpha Accident Management PLC)

Unaudited Interim Results for the period ended 30 November 2001

Chairman's Statement

I am pleased to announce the company's results for the interim period ended 30
November 2001.

As you are aware, for the period under review Alpha was in administration and
subject to a company voluntary arrangement. The unaudited accounts below reflect
the transactions which occurred during that period and also the fact that the
company did not trade. A company voluntary arrangement was effected on 14
September and the administration order was discharged on 4 December 2001.

On 10 January 2002 the company successfully completed its acquisition of
Recycled Waste Solutions Ltd, and raised £1.3 million by way of an open offer
and placing before expenses. The company changed its name to Recycled Waste PLC
and the shares were re-admitted to AIM on 11 January 2002.

The unaudited accounts do not reflect any transactions which took place
following the matters referred to above.



John Carrington
Chairman



Profit and Loss account (unaudited)
For the period ended 30 November 2001


                                                              6 months ended          12 months ended
                                                            30 November 2001              31 May 2001
                                                                       £'000                    £'000

Administrative expenses                                                    0                     (17)

Operating (loss)                                                           0                     (17)

(Loss) on ordinary activities before taxation                              0                     (17)

Taxation                                                                   0                        0

(Loss) on ordinary activities after taxation                               0                     (17)

Dividends paid                                                             0                        0

Retained (loss) for period                                                 0                     (17)

Loss per share                                                          £nil                     £nil

Fully diluted loss per share                                            £nil                     £nil



Balance Sheet (unaudited)
For the period ended 30 November 2001

                                                                      6 months ended        6 months ended
                                                                    30 November 2001           31 May 2001
                                                                               £'000                 £'000

Fixed assets
Investments                                                                        0                     0

Current assets
Debtors                                                                            0                     0
Cash at bank                                                                     150                     0
                                                                                 150                     0

Creditors: amounts falling due within one year                               (4,251)               (4,101)

Net current liabilities                                                      (4,101)               (4,101)

Total assets less current liabilities                                        (4,101)               (4,101)

Net Liabilities                                                              (4,101)               (4,101)


Capital and reserves
Called up share capital                                                          255                   255
Share premium account                                                          4,491                 4,491
Profit and loss account                                                      (8,847)               (8,847)

Shareholders funds                                                           (4,101)               (4,101)




Cash Flow statement (unaudited)
For the period ended 30 November 2001

                                                                       6 months ended          12 months ended
                                                                     30 November 2001              31 May 2001
                                                                                £'000                    £'000

Net cash flow from operating activities                                             0                        0

Returns on investments and servicing of finance                                     0                        0

                                                                                    0                        0


Financing
Issue of Convertible loan notes                                                   150                        0
Issue of funds by third party                                                       0                        3

Net cash inflow from financing                                                    150                        3

Increase in cash in the period                                                    150                        3




Notes to the Interim Results

1.         Basis of Preparation

The results for the six months ended 30 November 2001 are unaudited and have not
been reviewed by the auditors. They have been prepared on an accounting basis
and accounting policies that are consistent with those used in the preparation
of the financial statements of the company for the period ended 31 May 2001.

The financial statements contained in this report do not constitute statutory
accounts within the meaning of Section 240 of the Companies Act 1985.  The
results for the period ended 31 May 2001 were reported by the auditors and
received a qualified audit report.  Full accounts for the period ended 31 May
2001 have been delivered to the Registrar of Companies.  The interim statement
was agreed by the Board of Recycled Waste Plc on 28th  February 2002.


2.         Dividends

            No divided is proposed for the period ended 30 November 2001.






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