Final Results - Pre-tax Profit Up 15%

Dewhurst PLC
9 December 1999

                            
   Final Results for the 53 Weeks ended 3 October 1999

Highlights

 -  Pre tax profits up 15%
 -  Earnings per share up 20%
 -  Return on shareholders' funds at 22%
 -  All companies report record sales
 -  Three out of four companies report record profits
 -  Dividends increased by 9%


Chairman's Statement

Our key strategic goal is to generate long term growth in
earnings  for shareholders.  The progress made this  year
maintains our achievement of that objective.

Results

I  am  delighted to be able to report another record year
of  achievement by the Group and Group companies.   Group
sales  were  up 9%.  Group profits before  tax  were  15%
higher. All companies in the Group generated record sales
and three out of four companies  reported  record profits.  
The  main  contributors to the  Group  profit improvement  
were   the increased sales and productivity at the parent  
company and  Thames  Valley   Controls.   The   Directors 
are recommending a final  dividend of 2.3p, giving  3.45p  
for the  year,  a 9% increase on last year.     These are  
again   excellent  results  achieved  by  the  skill  and 
dedication of our  employees  and I would like  to  thank  
them  all  for their efforts during the year.

Strategy

We  regularly review our strategies against our long term
goals  and  have spent considerable time  and  energy  on
discussing and defining these this year.

For the lift division it remains our intention to have  a
single manufacturing source for pushbutton and associated
components  and  to  provide  service  around  the  world
through  a  network  of companies dedicated  to  offering
excellent   support   configuring   products   to   local
customers' requirements.

For keypads and rail we intend to continue to build  upon 
successes  with major  companies to broaden  the range of 
our products.

Management

After 20 years with the company Keith Bossard has decided
to  retire  as an executive director at the  AGM.   Keith
has,  however,  agreed to continue  as  a  non-executive.
This  will  allow us to retain access to  his  wealth  of
experience  in  the lift, rail and security  markets.   I
would  like to thank him for his valued service with  the
company  and look forward to working with him in his  new
role.

Outlook

There  appears  to  be  more  confidence  in  the  market
generally  than there was at this time last year.   There
are  also a number of encouraging opportunities to pursue
to  develop  the  business.  However competition  remains
fierce,  putting  pressure on margins,  and  we  are  not
assisted  by  the high value of the pound and  continuing
weakness of the euro.

We  will be maintaining our focus on innovation, both  in
design and manufacturing to enable us to continue to make
progress.

R M Dewhurst
Chairman



Review of Operations

Operating Highlights

Sales  and  profit  both showed good improvement  at  the
parent  company this year.  The main contributors to  the
better   sales  were  overseas  lift  markets.   Customer
service also markedly improved with significant increases
in  on-time  delivery  performance.   Congratulations  to
David   Mason   and  his  production   team   for   their
achievements.

The  results for Thames Valley Controls again  registered
good   progress.   Double  digit  sales   increases   and
improvements  in the cost of their products  generated  a
significant  profit  increase.   That  these  gains  were
achieved  against  a  background of falling  prices  only
serves to emphasise the strength of their performance.

At  Dupar  Controls a very strong sales  performance  for
lift  products  was partly offset by weak keypad  demand.
However both sales and profits improved to record  levels
this year.

After the leap in sales at The Fixture Company last year,
the  growth this year has been more modest.  It was  also
necessary    earlier   in   the   year   to    strengthen
administrative  support and this  has  contributed  to  a
small   increase  in  the  loss.   Since  the  year   end,
management at the company has been changed and we believe
the new team are well placed to take the company forward.

We  indicated  in the last annual report  that  we  would
continue to repurchase shares if in the directors' opinion
the  company's  shares remain undervalued  and  when  the  
cash  position  allows.  As a result a further 345,000 
were repurchased during the year.

Lift Division
Hounslow

We  have  had  another  year of strong  growth  from  the
Dewhurst Lift Division, led as ever by growing demand for
our Lift Fixture products both at home and overseas.  The
real  highlight of the year has been the very  successful
launch of our new Compact 2 pushbutton product, which has
been  well  received  and has been  taken up by  all  our  
existing customers. It has also generated a great deal of 
interest   from  lift  companies  who  are not  currently  
using  our products.

A  feature  of  the  UK market has been  the  demand  for
products   that  are  required  to  meet  the  new   Lift
Regulations  which came into force on July  1st  of  this
year.  The code now requires that all lifts must have two
way  communication between the lift car and  the  outside
world  and our Lift Auto Dial (LADs) product meets  that
directive.  Despite intense competition our UK Sales Team
have  done  an  excellent job selling  this  product  and
through  the  course  of  the year  we  have  achieved  a
significant market share.

Code  requirements are also a feature  of  our  continued
success  overseas,  where two of our established  markets
have changed their codes to include the requirements  for
specific types of Braille pushbuttons.  We have been able
to meet these specifications exactly, which has led to  a
good increase in sales.

We  are  pleased that over the year we have been involved
in  a  growing  number  of landmark projects  around  the
world.   Citigroup's new headquarters in London's  Canary
Wharf  is a very prestigious office building as is  No  2
Park Street in the centre of Sydney.  These successes are
as  a result of offering greater flexibility in terms  of
finishes and colours on our products and this will  be  a
feature that we will continue to develop in the future.

Thames Valley Controls

Richard  Young  and  his team at Thames  Valley  Controls
(TVC) have had another year of good profit growth in what
continues  to  be a very competitive market  place.   All
credit to them for their achievements.

The  focus over the last year at TVC has been in two  key
areas.  Most importantly we have worked at making a  step
improvement  in the quality of the product  that  we  are
offering  and  we have had success in making  significant
progress in this area.  The second area of focus has been
the  Production Engineering where the introduction of new
software  has allowed us to reduce dramatically the  time
taken to engineer each lift controller.  A by-product  of
this  change is increased standardisation of the  panels,
which helps both our customers and ourselves.

We  have  had some notable technical successes  over  the
year   the   most  important  of  which  is   the   first
installation of an AC Gearless controller and machine  by
an  independent supplier.  The market is gradually moving
from  DC  Gearless to AC Gearless and  this  is  an  area
which,  until now, has been dominated by the larger  lift
manufacturers.

Dupar Controls

The  Canadian market has been very buoyant over the  last
twelve months and our decision two years ago to introduce
sheet  metal  facilities into our plant in Cambridge  has
meant that we are in a position to benefit fully from the
upturn in the economy.

The  challenge for the coming year will be to ensure that
we  have  the  systems in place at Dupar to maintain  and
improve  the  high  quality of service whilst  the  sales
continue  to grow fast.  This challenge will  be  met  by
Jeff  Goebel  our new General Manager at Dupar  Controls.
Clive Mann, who had been with  the  company  for 20 years
and had been our General Manager since 1990 has emigrated 
to the  US.   Clive  made  a  great  contribution  to the
development  of the company during his period  in  charge
and  we would like to take this opportunity to thank  him
for this contribution.

We are confident that Jeff and his team will continue the
impressive  long  term  growth record of  Dupar.   A  new
leader can look at the market and the opportunities in  a
new  light which will be stimulating for Dupar.  We  wish
Jeff all the best in his new role.

The Fixture Company

It  has  been  another  difficult  year  at  The  Fixture
Company.  The opportunities in the US are many, but it is
not  an easy market to break into.  We are; however, very
pleased  to  announce that Mark Menke has  joined  us  as
General  Manager which will considerably  strengthen  our
team  in  Chicago.  Mark comes to us with many  years  of
experience in the lift fixture market and he has a  great
deal  to offer us at The Fixture Company.  Again we  wish
him great success in his new role.

Keypad Division

The  keypad  market  remains  a  very  competitive  area.
However  we have made significant progress this  year  in
improving  our processes.  For deliveries to our  largest
customer,  for example, we have seen further improvements
in  delivery and quality performance.  We have come close
to  achieving  our  goal of 100% on time  delivery  on  a
regular   and  routine  basis.   Efficiency  improvements
allowed us to stabilise margins despite a market in which
prices were declining.

The major product launch of the year has been Ntor.  This
is  an  access control system for apartments.   A  vandal
resistant  keypad at the apartment block entrance  allows
communication  via  telephone with  apartment  occupants.
The   occupants  may  then  trigger  the  door  unlocking
mechanism  to  allow  entry.  The  system  is  generating
interest, particularly in the public housing market.

Rail Division

As  expected,  the major projects for the  rail  division
this  year  were in the refurbishment market.   The  PA51
bodyside indicator has achieved good success and  is  now
being  fitted to a wide range of rolling stock, including
Adtranz   Class  365  Networker  trains.   A  significant
proportion  of the Connex fleet of commuter  trains  were
fitted  with enhanced control switches during  the  year.
This  order included both supply and fitting of switches.
Such  work  is quite a logistics challenge as it  is  not
always  easy  to gain access to the trains  that  require
refurbishment.


Financial Review

Turnover  increased  by 9% from £18.2  million  to  £19.9
million.   Operating profits increased by £225,000  (14%)
from  £1,580,000  to  £1,805,000.   Net  interest  earned
increased from £62,000 to £80,000.

Additions to fixed assets declined to £580,000  for  this
year  after  the  very high levels of investment  in  the
prior  year.   The major purchases were a  new  universal
moulding  machine, suitable both for standard and  insert
mouldings,  and computer equipment, particularly the  new
system  at Dupar Controls.  A number of other items  were
also   purchased   during  the  year   to   improve   our
prototyping, test and inspection facilities.

The  group  ended the year with cash and  investments  up
from  £1.5  million  to  £1.7 million.   This  was  after
spending a net £220,000 on the repurchase of shares.  The
improvement in cash balances was achieved despite a major
initiative  to  keep close to our agreed terms  with  our
suppliers.  We also benefited from the year end returning
more closely to the month end.  As reported last year, we
have major customers who make their payments routinely at
the  end  of the month.  This effect can be seen  in  the
decrease  in  debtors  on  the year  end  balance  sheet.
Operating  cash  flow  was £2.0  million  for  the  year.
Dividends paid increased from £324,000 to £343,000.

The group seeks to reduce or eliminate financial risk, to
ensure   sufficient  liquidity  is  available   to   meet
foreseeable needs, and to invest cash assets  safely  and
profitably.   The  policies and procedures  operated  are
regularly reviewed and approved by the Board.  By varying
the duration of its fixed and floating cash deposits, the
Group  maximises  the  return on  interest  earned.   The
Group's  reported  trading profit was  not  significantly
affected  by  currency  movement with  approximately  11%
being  earned  in  foreign currencies during  the  period
ended 3 October 1999.

The tax  charge for the year increased to £581,000 (30.8%)
from  £506,000  (30.8%)  with  the  higher  profit.   The
proposed  total  dividend of 3.45p  per  share,  up  9.5%
against  last  year  (3.15p),  is  covered  3.7  times  by
earnings.    Shareholders'  funds  improved   from   £7.7
million to £8.5 million,  with  a net reduction of 345,000
shares  during the year.

Dates

The  dividend  will  be  paid on 28 February 2000 with the 
record date being 14 January 2000.

The Annual General Meeting of the Company  will take place
at  11.00 a.m.  on  31  January  2000  at  the   Company's 
Registered   Office,   Melbourne  Works,   Inverness  Road, 
Hounslow, Middlesex TW3 3LT


Consolidated Profit and Loss Account
for the 53 weeks ended 3 October 1999


                                                   1999                 1998
                                              (53 weeks)           (52 weeks)
                                                      £                    £

Turnover                                     19,876,599           18,224,024
Operating costs                             (18,071,476)         (16,767,970)
                                            ---------------------------------
Trading profit                                1,805,123            1,456,054

Other Operating Income
Profit on sale of investments                         -              123,913
                                            ---------------------------------
Operating Profit                              1,805,123            1,579,967
Net Interest                                     79,900               62,439
                                            ---------------------------------
Profit on ordinary activities before tax      1,885,023            1,642,406
Tax on profit on ordinary activities           (581,397)            (506,283)
                                            ---------------------------------
Profit for the financial year                 1,303,626            1,136,123
Dividends per 10p ordinary share               (355,994)            (338,533)
                                            ---------------------------------
Retained profit for the financial year          947,632              797,590
Basic earnings per share                         12.46p               10.42p
Diluted earnings per share                       12.36p               10.34p


All amounts relate only to continuing operations


Consolidated Balance Sheet 
as at 3 October 1999

                                                     1999               1998
                                                                (as restated)
                                                        £                  £

Fixed Assets
Tangible
 - Land and Buildings                           1,374,420          1,382,594
 - Plant and Machinery                          1,683,995          1,565,227
                                               -----------------------------
                                                3,058,415          2,947,821
Current Assets
Stocks                                          3,492,022          3,390,793
Debtors                                         3,316,454          4,030,906
Investments                                        23,193             21,094
Cash at bank and in hand                        1,702,037          1,442,642
                                               -----------------------------
                                                8,533,706          8,885,435
Creditors: amounts falling due within
one year                                        2,927,646          3,758,108
                                               -----------------------------
Net Current Assets                              5,606,060          5,127,327
                                               -----------------------------
Total assets less current liabilities           8,664,475          8,075,148
Provisions for liabilities and charges            172,072            380,000
                                               -----------------------------
Net Assets                                      8,492,403          7,695,148
                                               -----------------------------

Capital and Reserves
Called up share capital                         1,031,870          1,066,375
Share premium account                             126,658            126,658
Revaluation reserve                               423,001            423,001
Capital redemption reserve                         96,940             62,435
Profit and loss account                         6,813,934          6,016,679
                                               -----------------------------
Equity Shareholders Funds                       8,492,403          7,695,148
                                               -----------------------------


Consolidated Cashflow Statement
for the 53 weeks ended 3 October 1999

                                                     1999               1998
                                                (53 weeks)         (52 weeks)
                                                        £                  £

Net Cash Inflow From Operating Activities       1,959,936          1,092,911

Returns on Investment and servicing 
of finance:
Interest and dividends received                    80,682             63,656
Interest paid                                        (782)            (1,217)
-----------------------------------------------------------------------------
Net Cash Inflow From Returns on Investments
and servicing of finance                           79,900             62,439

Taxation:
UK Taxation                                      (587,269)          (348,450)
Overseas Taxation                                (104,366)          (101,037)
-----------------------------------------------------------------------------
Net cash outflow from taxation                   (691,635)          (449,487)

Capital Expenditure and Financial Investment
Purchase of tangible fixed assets                (582,262)          (830,351)
Sale of tangible fixed assets                      55,978             53,601
-----------------------------------------------------------------------------
Net Cash Outflow from Capital Expenditure
and Financial Investment                         (526,284)          (776,750)

Equity Dividends Paid                            (342,603)          (323,533)
                                                
Net Cash Inflow/(Outflow) before use
of liquid resources  and financing                479,314           (394,420)

Management of liquid resources
Sale of investments                                     -            137,094
Purchase of short-term deposits                  (752,400)                 -
----------------------------------------------------------------------------
                                                 (752,400)           137,094

Financing
Issue of share capital                                  -             13,560
Repurchase of shares                             (219,919)          (248,265)
----------------------------------------------------------------------------
                                                 (219,919)          (234,705)
----------------------------------------------------------------------------
Increase/(decrease) in cash in period            (493,005)          (492,031)
----------------------------------------------------------------------------