Final Results

Buckland Group PLC
28 June 2004



                               Buckland Group plc
                                 ('the Group')
            Preliminary results for the year ended 31 December 2003

Chairman's Statement for the year ended 31 December 2003

I present the financial results for Buckland for the year ended 31 December
2003. The results show a loss before tax of £464,840, compared with a profit of
£122,007 for 2002, on sales for the year of £4,453,297 (2002: £4,791,475). The
loss per share was 0.30p (2002: 0.10p earnings per share). No dividend is
proposed.

Review of 2003

Trading

Euro Asia Connectors

2003 turned out to be a very disappointing year for EAC. On the positive side,
we relocated all its operations onto one site at Bangpoo, at a one-off cost to
the P&L of £25,000 but with the continuing benefits of easier control and some
reduction in working capital. On the negative side, the normal seasonal upturn
in the second half of the year faded sooner than anticipated due to aggressive
de-stocking by some of our major customers. As a result second half sales fell
short of budget expectations, exacerbated by renewed pressure on selling prices
in the last quarter from Chinese competitors.

In response to these deteriorating conditions and to some specific management
problems which came to light in the last quarter, we initiated various changes
around the end of the year. EAC's local workforce was reduced by some 15% and
the expatriate management team was significantly reduced. Overall these measures
have reduced EAC's annual cost base by £200,000; the related redundancy costs of
£15,000 will be charged to the 2004 P&L.

Trading in 2004 to date has continued to be difficult with rising prices of raw
materials adding to the problems of continuing strong price competition.
However, EAC is now under much tighter management control and there is some
reason to think that perhaps finally the inexorable decline in selling prices
which we have seen for the last decade may be on the turn, although it remains
to be seen how soon this will allow any rebuilding of margins.

Derlite

During the first four months of 2003 all Derlite's manufacturing operations were
transferred in phases from Cornwall to Bangkok at a cost of £80,000, comprising
the costs of redundancies and the transfer of equipment to Thailand. Despite
some teething problems, we are pleased with the way that Derlite has performed
since its transfer to Bangkok and with the financial returns which it has
generated. Its overall sales for 2003 showed significant growth compared to 2002
and its greatly reduced cost base in Thailand compared to Cornwall enabled it to
make a very significant profit contribution for the year.

2004 to date has seen further growth for Derlite in sales compared to last year
and some intense activity in new product approvals both for existing and new
customers. The resultant new sales are now beginning to come on stream and in
order to support this significantly increased level of business we have been
building up Derlite's engineering team recently by local recruitment. The growth
in Derlite's assembly workforce necessary to meet the increased production
requirements is planned to be met in the short term by transfers from EAC's
operations.

Strategy

Based on current evidence we are optimistic that we can grow Derlite's
operations substantially over the next two to three years, in part by taking
market share from European competitors with higher cost bases and in part by
penetration of new markets elsewhere in the world. Unless we can rebuild EAC's
gross margins to an acceptable level, we will accommodate Derlite's continuing
need for new production capacity by progressively transferring staff and
equipment from EAC.

Given the success to date of the Derlite acquisition, it is clear that we should
continue to seek out similar acquisition opportunities in the UK and continental
Europe, where we can utilise our low cost manufacturing base in Thailand to
realise significant margin improvements. For this strategy to succeed it is
equally clear that we must have a strong and stable management team in Bangkok.
After some major setbacks in this respect during 2003, I am very pleased to
report that Rick Hooper, 43, joined us as General Manager of all our operations
in Thailand at the beginning of February this year. Rick was previously a vice
president with Philips NV and during his 20 year career with Philips he was
responsible at various times for the management of major manufacturing
facilities in Poland and Thailand. Since February Rick has undertaken a
fundamental restructuring of our management team in Thailand. The few
expatriates who left over the year end period have been replaced with several
suitably qualified Thai and other Asian nationals to give us a broader and
deeper spread of skills. The result, at considerably lower overall cost, is that
we are now confident that we have the team in place to carry the business
forward.

More information about the Group and its activities can be found on our new
website at www.buckland-grp.com.

Balance Sheet

In October 2003 the Group's financial position was strengthened by the issue of
40m new ordinary shares at 0.50 pence each to raise £193,000 net of expenses for
working capital. This funding combined with a reduction in working capital
restricted the net cash outflow for the year to £56,700. Overall we expect the
group to be cash positive in 2004. Given the difficult trading conditions facing
EAC, we have written off the balance of goodwill arising on its acquisition.
This has resulted in a charge of £82,595 to the 2003 profit and loss account.

Outlook

Whilst the first half of the year has seen a further group pre-tax loss, we
expect our results to improve during the second half of 2004 as Derlite
continues to grow profitably and as EAC's performance is expected to recover
gradually.

Patrick Rogers
Chairman

28 June 2004



Consolidated profit and loss account for the year ended 31 December 2003

                                       Year ended                  Year ended
                                 31 December 2003            31 December 2002
                Note                            £                           £

Turnover                                4,453,297                   4,791,475

Cost of sales                          (3,956,500)                 (3,941,341)
                                         ----------                   ---------
Gross profit                              496,797                     850,134

Administrative
expenses                               (1,282,109)                   (810,670)
Other operating
income                                    369,711                     105,723
                                         ----------                   ---------

Operating
(loss)/profit                            (415,601)                    145,187

Interest
receivable                                    104                           -

Interest
payable and
similar charges                           (49,343)                    (23,180)
                                         ----------                   ---------

(Loss)/profit
on ordinary
activities
before taxation                          (464,840)                    122,007

Tax on profit
on ordinary
activities                                 (2,137)                     (6,535)
                                         ----------                   ---------

Retained
(loss)/profit
transferred
(from)/to
reserves                                 (466,977)                    115,472
                                         ==========                   =========

(Loss)/earning
per ordinary
share: Basic
and Diluted         2                       (0.30)p                      0.10p



Consolidated balance sheet at 31 December 2003

                                    At 31 December 2003      At 31 December 2002

                                      £            £            £            £
Fixed assets
Intangible assets                            336,188                   436,658
Tangible assets                              318,009                   360,147
                                              --------                  --------
                                             654,197                   796,805

Current assets
Stocks                          471,646                   629,889
Debtors                         581,870                   847,486
Cash at bank and in hand         84,542                   177,966
                                 --------                  --------
                              1,138,058                 1,655,341

Creditors: amounts falling
due
                             (1,150,943)               (1,485,926)
within one year                  --------                  --------

Net current (liabilities)/                   (12,885)                  169,415
assets                                        --------                  --------

Total assets less current
liabilities                                  641,312                   966,220

Creditors: amounts falling
due
                                             (49,247)                  (79,234)
after more than one year                      --------                  --------

                                             592,065                   886,986
                                              ========                  ========

Capital and reserves
Called up share capital                    2,417,752                 2,157,752
Share premium account                        735,775                   712,775
Profit and loss account                   (2,561,462)               (1,983,541)
                                              --------                  --------

Equity shareholders' funds                   592,065                   886,986
                                              ========                  ========





Consolidated cash flow statement for the year ended 31 December 2003

                                                     Year ended     Year ended
                                                     1 December    31 December
                                                     2003                 2002
                                                            £                £

Net cash
(outflow)/inflow
from operating
activities (see
below)                                                (56,700)        (192,979)
Returns on
investments and
servicing of
finance                                               (49,239)         (23,180)
Capital expenditure                                  (126,945)         (74,404)
Acquisitions and
disposals                                                   -         (242,363)
                                                      ---------        ---------

Cash outflow before
management of
liquid resources
and financing                                        (232,884)        (532,926)

Financing                                             164,953          663,783
                                                      ---------        ---------

(Decrease)/
increase in cash                                      (67,931)         130,857
                                                      =========        =========

Reconciliation of net cash flow to movement in net
funds
(Decrease)/
increase in cash in
the period                                            (67,931)         130,857
Cash outflow from
decrease in debt                                       28,047          205,851
                                                      ---------        ---------
Change in net debt
resulting from cash
flows                                                  39,884          336,708

Loan notes repaid/
(issued)                                               90,000          (90,000)
Finance leases
acquired                                              (29,403)         (23,132)
Exchange movement                                        (490)           4,077
                                                      ---------        ---------
Movement in net
debt in the period                                     20,223          227,653

Opening net debt                                     (257,465)        (485,118)
                                                      ---------        ---------

Closing net debt                                     (237,242)        (257,465)
                                                      =========        =========

Reconciliation of operating (loss)/profit to net
cash outflow from operating activities
Operating
(loss)/profit                                        (415,601)         145,187
Depreciation                                          192,631          320,760
Amortisation of
goodwill                                              100,470            7,985
Loss on sale of
fixed assets                                            1,553                9
Decrease/(Increase)
in stocks                                              63,280          (78,381)
Decrease/(Increase)
in debtors                                            106,215         (125,533)
Decrease in
creditors                                             (98,713)        (463,006)
Other non cash
operating
adjustment                                             (6,535)               -
                                                      ---------        ---------

Net cash (outflow)
from operating
activities                                            (56,700)        (192,979)
                                                      =========        =========


Notes:


1 Statutory accounts

This preliminary announcement, which does not constitute statutory accounts as
defined by section 240 of the Companies Act 1985, has been extracted from the
statutory financial statements of the company for the year ended 31 December
2003 on which the auditors issued an unqualified audit opinion which did not
include any statement under Section 237 of the Companies Act 1985. These
financial statements, which have not yet been delivered to the Registrar of
Companies, have been prepared using accounting policies which have been reviewed
by the Group in accordance with FRS 18. They remained unchanged from those set
out in the Group's 2002 annual report and financial statements.

2 Earnings per ordinary share


The calculations of basic earnings per share are based on the loss for the year
attributable to ordinary shareholders of £466,977 (2002: profit £115,472) and a
weighted average number of shares in issue during the year of 153,135,572 (2002:
113,932,623).

3 Dividends

The Directors are not proposing that a dividend payment be made.

4 Annual General Meeting

Notice is hereby given that the Annual General Meeting of Buckland Group plc
will be held at the offices of Seymour Pierce, Bucklersbury House, 3 Queen
Victoria Street, London EC4N 8EC on Monday 2nd August 2004 at 11am.





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