Interim Results

Creightons PLC
15 December 2003

                                 CREIGHTONS plc
                         ('the Group' or 'the Company')
                                Interim results
                            for the six months ended
                               30 September 2003

Chairman's statement

I am pleased to be able to report to you that the Group has recorded
significantly increased operating profits for the half-year to 30 September 2003 
of £284,000 (2002: £5,000). As a consequence, after interest costs of £101,000 
(2002: £34,000), the Group can report an overall profit before tax of £183,000 
(2002: loss of £29,000). This is the first time the Group has been able to 
report either a pre-tax or post-tax profit in more than seven years, and 
reflects the continuing improvements being made by the Group since the present 
board was put into place some three years ago. Both of the Group's operating 
companies (Creightons plc and Potter & Moore Innovations Limited) contributed to 
this profit. Due to the highly seasonal nature of the business and fulfilment of 
significant Christmas orders during the first half, sales in the second half are 
unlikely to be as high as in the first half.

The economic climate has continued to be challenging, however the new
opportunities that the acquisition of the Potter & Moore business has opened up
for us demonstrate the strength of this operation, and this business has
contributed significantly to the Group's sales and overall profitability. Now
that the acquisition of Potter & Moore has been completed, the board is seeking
to maximise the new opportunities for synergies referred to in my statements in
July and September. I am also pleased to be able to report that we have managed
to maintain and at times improve upon the high standards of customer service and
product quality we set as a goal following the acquisition.


William McIlroy
Executive Chairman
15 December 2003


Consolidated Profit and Loss Account
For the six months ended 30 September 2003

                               6 months to    6 months to   Year ended
                              30 September   30 September     31 March
                                      2003           2002         2003
                                     £'000          £'000        £'000

Turnover                             5,902          1,983        3,846

Cost of sales                       (3,673)        (1,252)      (2,203)

                                     -------        -------      -------

Gross profit                         2,229            731        1,643

Operating expenses                  (1,946)          (747)      (1,686)

Other operating income                   1             21           20
                                     -------        -------      -------

Operating profit/(loss)                284              5          (23)

Net interest payable                  (101)           (34)         (59)
                                     -------        -------      -------

Profit/(Loss) on ordinary
activities and loss
sustained for the period               183            (29)         (82)
                                     =======        =======      =======

Profit/(Loss) per share               0.34p        (0.053)p      (0.15)p

Fully diluted profit/(loss)           0.32p        (0.053)p      (0.14)p
per share



Consolidated Balance Sheet
As at 30 September 2003
                                       As at          As at      As at
                                30 September   30 September   31 March
                                        2003           2002       2003
                                       £'000          £'000      £'000

Fixed assets

Tangible assets                        1,771          1,779      1,813

Goodwill & Intangibles                   358              -        358

                                       -------        -------     ------
                                       2,129          1,779      2,171
                                       -------        -------     ------

Current assets

Stocks                                 1,856            513        647

Debtors                                2,317            738      1,167

Cash                                       1              -          9
                                       -------        -------     ------

Creditors                               4,174          1,251      1,823

Amounts falling due within one         (4,650)        (1,566)    (2,585)
year                                   -------        -------     ------


Net current liabilities                 (476)          (315)      (762)
                                       -------        -------     ------

Total assets less current              1,653          1,464      1,409
liabilities

Creditors

Amounts falling due after more           (61)            (2)         0
than one year
                                       -------        -------     ------


Net assets                              1,592          1,462      1,409
                                       =======        =======     ======

Capital and reserves

Called up share capital                  543            543        543

Share premium account                  1,229          1,229      1,229

Other reserves                            38             38         38

Profit and loss account                 (218)          (348)      (401)

                                       -------        -------     ------

                                        1,592          1,462      1,409
                                       =======        =======     ======



Consolidated Cash Flow Statement
For the six months ended 30 September 2003

                         6 months to      6 months to     Year ended
                         30 September    30 September      31 March
                         2003     2003    2002    2002    2003    2003
                        £'000    £'000   £'000   £'000   £'000   £'000

Cash flow from                  (1,273)             29            (207)
operating activities

Returns on investments
and
servicing of finance

Interest paid                     (101)            (34)            (59)

Capital expenditure

Purchase of tangible      (67)              (9)           (150)
fixed assets

Purchase of Goodwill      (19)               -            (360)

Sale of tangible fixed      5               15              14
assets                     ----             ----            ----

                                   (81)              6            (496)

                                   -----           -----            ----

Cash outflow before             (1,455)              1            (762)
financing

Financing

Shareholder Loan          317                -               -

Director Loan            (150)               -             742

New HP                    100                -               -

Capital element of hire    (3)              (6)            (16)
purchase payments          ----             ----            ----
                                   264              (6)            726

                                   -----           -----
Increase/(decrease) in          (1,191)             (5)            (36)
cash                               =====           =====            ====



CREIGHTONS plc
Independent Review Report to Creightons plc

Introduction

We have been instructed by the company to review the financial information set
out in the attached consolidated Profit and Loss Account, consolidated Balance
Sheet, consolidated Cash Flow Statement, and the related notes. We have read the
other information contained in the interim report and considered whether it
contains any apparent misstatements or material inconsistencies with the
financial information.

This report, including the conclusion, has been prepared for and only for the
company for the purpose of the Listing Rules of the Financial Services Authority
and for no other purpose. We do not, in producing this report, accept or assume
responsibility for any other purpose or to any other person to whom this report
is shown or into whose hands it may come save where expressly agreed by our
prior consent in writing.

Directors' responsibilities

The interim report, including the financial information contained therein, is
the responsibility of, and has been approved by, the directors. The Listing
Rules of the Financial Services Authority require that the accounting policies
and presentation applied to the interim figures should be consistent with those
applied in preparing the preceding annual accounts, except where any changes,
and the reasons for them, are disclosed.

Review work performed

We conducted our review in accordance with guidance contained in Bulletin 1999/4
issued by the Auditing Practices Board. A review consists principally of making
enquires of management and applying analytical procedures to the financial
information and underlying financial data and based thereon, assessing whether
the accounting policies and presentation have been consistently applied, unless
otherwise disclosed. A review excludes audit procedures, such as tests of
controls and verification of assets, liabilities and transactions. It is
substantially less in scope than an audit performed in accordance with Auditing
Standards and therefore provides a lower level of assurance than an audit.
Accordingly we do not express an opinion on the financial information.

Review conclusion

On the basis of our review, we are not aware of any material modifications that
should be made to the financial information as presented for the six months
ended 30 September 2003.

Chantrey Vellacott DFK
Chartered Accountants
15 December 2003



Notes to the interim report

1. The interim report has been prepared using the same accounting policies as
were used for the annual report and financial statements for the year ended 31
March 2003. The interim financial statements do not constitute statutory
accounts and they are unaudited. They have, however, been reviewed by the
auditors, whose report is included. Full year figures for the year ended 31
March 2003 have been extracted from the annual report and financial statements
for that year which received an unqualified audit opinion and have been filed
with the Registrar of Companies.

2. The interim financial information has been prepared on a going concern basis.
The Group has been meeting its day to day working capital requirements through
an overdraft facility which was due for renewal on 30 May 2003. The facility
previously in place was not formally renewed, and the directors have agreed with
their bankers that this is an appropriate time to restructure the core overdraft
facilities into longer term debt and a reduced overdraft or comparable trading
facility. This action is considered necessary by the directors in order to
improve the financial and commercial stability of the Group.

The directors are currently in the final stages of completing re-financing
arrangements involving replacement of the overdraft facility with debtor-book
financing and taking out a commercial mortgage on the parent Company's freehold
property at Storrington, and on this basis they consider it appropriate to
prepare the accounts on a going concern basis.

3. Profit/(loss) per share for the six months ended 30 September 2003 and 2002,
and for the year ended 31 March 2003 have all been calculated on 54,275,876
shares being the weighted average number of shares in issue during the period.
The calculation of the diluted profit/(loss) per share is based on the basic
profit/(loss) per share, adjusted for the issue of shares on the assumed
exercise of all dilutive options.

4. No taxation charge has been included in view of the loss sustained and the
significant accumulated losses available from previous periods.

5. The interim report is being sent to shareholders. Further copies can be
obtained from the Company's registered office, Unit 1, Water Lane Industrial
Estate, Storrington, Pulborough, West Sussex RH20 3DP.




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