Interim Results

Dewhurst PLC
07 June 2007


Dewhurst plc

Directors' Interim Report


FIRST HALF


Turnover at the Group was slightly down at £14.9 million compared to £15.0
million last year. Profit before tax dropped 16% to £1.52 million (£1.80
million). Earnings per share also dropped 12% to 10.2p (11.7p).

Lift and Keypad sales were both down. The fall in lift products was primarily 
as a result of reduced sales of remote monitoring equipment. The reduction in
keypad revenue was largely caused by a further fall in prices. This is a
continuing theme, with competition from low wage economies likely to maintain
the pressure on prices for the foreseeable future.

Sales of traffic products increased with a full 6 month contribution from last
year's acquisition of Traffic Management Products (TMP). During the period we
won and delivered our first major passive safety lighting column order. We also
introduced new variants of our Flecta reboundable bollard, which have been well
received by customers.


SHARE REPURCHASE

On the 11th December 2006 the company purchased 36,000 of its own Ordinary 10p
shares for £69,120. At the time of purchase these shares amounted to 0.37% of
the called up share capital of the company and have been cancelled. On the 5th
March 2007 the company purchased a further 12,500 of its own Ordinary 10p
shares for £23,875. At the time of purchase these shares amounted to 0.13% of
the called up share capital of the company and have also been cancelled.

Details of shares purchased pursuant to the authority have been notified to the
London Stock Exchange and to the Registrar of Companies.


OUTLOOK

We continue to take action to mitigate falling prices. We have increased
overseas sourcing and reduced overheads; we will need to do more of the same to
further reduce our cost base. However we must keep investing in new products,
which are the lifeblood for our future. We are continuing the drive to improve
value for customers, while at the same time improving service. These actions
put pressure on our profits in the short term, but secure more business for the
future.


DIVIDENDS

The Directors have declared an interim dividend of 1.80p which amounts to
£176k, compared with 1.71p last year (£168k). The interim dividend is payable
on 28th August 2007 and warrants will be posted on 23rd August 2007 to 
shareholders appearing in the Register at 3:00 p.m. on 13th July 2007.

A final 2006 dividend of 3.42p which amounted to £336k, compared with 3.26p
previous year (£321k) was approved at the AGM held on the 31st January 2007
and was paid on 5 March 2007 to members on the register at 12th January 2007.



By Order of the Board
J C SINCLAIR
Finance Director & Secretary
6 June 2007


Dewhurst plc

The unaudited consolidated income statement, statement of recognised income and
expense, balance sheet and cash flow statement of Dewhurst plc and its
subsidiaries for the half-year ended 31st March 2007, as compared with the
corresponding half-year ended 31st March 2006 and the year ended 30th September
2006, shows the following results:


Consolidated income statement

                               Half year            Half year             Year
                                   ended                ended            ended
                              31st March           31st March   30th September
                                    2007                 2006             2006
Continuing operations           £(000)'s             £(000)'s         £(000)'s
-----------------------       ----------           ----------      -----------

Revenue                           14,942               14,950           29,766

Operating costs                  (13,375)             (13,185)         (26,438)

Operating profit                   1,567                1,765            3,328
                            
Finance income                        86                   88              165

Finance costs                       (136)                 (50)             (99)
-----------------------       ----------           ----------      -----------

Profit before
taxation                           1,517                1,803            3,394
Tax on profits                  Est.(514)           Est. (654)          (1,081)
-----------------------       ----------           ----------      -----------

Profit for the period              1,003                1,149            2,313
-----------------------       ----------           ----------      -----------

Basic and diluted
earnings per share                10.21p               11.66p           23.48p
Dividends per share                1.80p                1.71p            5.13p




Consolidated statement of recognised income and expense

                                     Half year      Half year            Year
                                         ended          ended           ended
Net income/(expense) recognised     31st March     31st March  30th September
                                          2007           2006            2006
directly in equity:                   £(000)'s       £(000)'s        £(000)'s
-----------------------             ----------     ----------     -----------

Actuarial
gains/(losses) on
the defined                           
benefit pension scheme                Est. 622       Est. 897           1,637

Exchange differences
on translation                            
of foreign operations                     (351)           (66)           (346)

Tax on items taken
directly to equity                         (82)          (249)           (387)
-----------------------             ----------      ----------     -----------

Net income / (expense)
recognised directly in                     
equity in the period                       189             582            904
Profit for the
financial period                         1,003           1,149          2,313
-----------------------             ----------      ----------    -----------
             
Total recognised
income and expense                       
for the period                           1,192           1,731          3,217
-----------------------             ----------      ----------    -----------



Dewhurst plc

Consolidated balance sheet

                                       Half year     Half year            Year
                                           ended         ended           ended
                                      31st March    31st March  30th September
                                            2007          2006            2006
                                        £(000)'s      £(000)'s        £(000)'s
-----------------------------          ---------    ----------     -----------
Non-current assets
Goodwill                                   5,250         5,342           5,192
Other intangibles                             89            61              89
Property, plant and equipment              2,721         2,872           2,804
Deferred tax asset                         1,525         1,886           1,746
-----------------------------          ---------    ----------     -----------
                                           9,585        10,161           9,831
Current assets
Inventories                                2,875         3,575           3,037
Trade and other receivables                6,016         5,846           5,664
Cash and cash equivalents                  5,617         3,867           5,077
-----------------------------          ---------    ----------     -----------
                                          14,508        13,288          13,778
                                       ---------    ----------     -----------
Total assets                              24,093        23,449          23,609
-----------------------------          ---------    ----------     -----------

Current liabilities
Trade and other payables                  (3,782)       (3,748)         (3,442)
Current tax liabilities                     (387)         (602)           (388)
Short term provisions                       (150)         (200)           (150)
-----------------------------          ---------    ----------     -----------
                                          (4,319)       (4,550)         (3,980)
-----------------------------          ---------    ----------     -----------
Non-current liabilities
Retirement benefit obligation             (5,085)       (6,286)         (5,697)
-----------------------------          ---------    ----------     -----------
                                          (5,085)       (6,286)         (5,697)
-----------------------------          ---------    ----------     -----------
Total liabilities                         (9,404)      (10,836)         (9,677)
-----------------------------          ---------    ----------     -----------

Net assets                                14,689        12,613          13,932
-----------------------------          ---------    ----------     -----------

Equity
Share capital                                980           985             985
Share premium account                        157           157             157
Capital redemption reserve                   157           152             152
Translation reserve                          (31)          336             215
Retained earnings                         13,426        10,983          12,423
-----------------------------          ---------    ----------     -----------

Total equity                              14,689        12,613          13,932
-----------------------------          ---------    ----------     -----------



The results for the 2006 year set out above are abridged. Full accounts for
that year reported under IFRS, on which the auditors of the company made an
unqualified report, have been delivered to the Registrar of Companies.

The presentation of these Interim Financial Statements is consistent with the
2006 Financial Statements and its accounting policies, but where necessary
comparative information has been reclassified or expanded from the 2006 Interim
Financial Statements to take into account any presentational changes made in
the 2006 Financial Statements or in these Interim Financial Statements.



Dewhurst plc

Consolidated cash flow statement

                                     Half year       Half year            Year
                                         ended           ended           ended
                                    31st March      31st March  30th September
                                          2007            2006            2006
                                      £(000)'s        £(000)'s        £(000)'s
-----------------------------       ----------      ----------     -----------

Cash flows from operating
activities
Operating profit                         1,567           1,765           3,328
Depreciation and
amortisation                               162             212             463
Additional costs to
pension scheme                            (125)             65             131
Exchange adjustments                      (198)           (142)            (98)
----------------------------        ----------      ----------     -----------
(Profit)/loss on disposal of
property, plant and equipment               (9)              1              (3)
----------------------------        ----------      ----------     -----------
                                         1,397           1,901           3,821
(Increase)/decrease
in inventories                             162             587             996
(Increase)/decrease in trade
and other receivables                     (352)            496             513
Increase/(decrease) in trade
and other payables                         340            (263)           (366)
Increase/(decrease)
in provisions                                -               -             (50)
----------------------------        ----------      ----------     -----------
Cash generated from
operations                               1,547           2,721           4,914
Interest paid                               (1)              -               -
Income tax paid                           (519)           (557)         (1,147)
----------------------------        ----------      ----------     -----------
Net cash from
operating activities                     1,027           2,164           3,767

Cash flows from investing
activities
Acquisition of subsidiary
undertakings                                 -          (4,322)         (4,322)
Proceeds from sale of property,
plant and equipment                          9               1              14
Purchase of property,
plant and equipment                       (121)           (137)           (320)
Development costs capitalised              (20)            (30)           (109)
Interest received                           86              88             165
----------------------------        ----------      ----------     -----------
Net cash used in
investing activities                       (46)         (4,400)         (4,572)

Cash flows from financing
activities
Dividends paid                            (336)           (321)           (490)
Repurchase of shares                       (93)              -               -
----------------------------        ----------      ----------     -----------
Net cash used in
financing activities                      (429)           (321)           (490)
----------------------------        ----------      ----------     -----------
Net increase/(decrease)
in cash and cash
equivalents                                552          (2,557)         (1,295)
----------------------------        ----------      ----------     -----------
Cash and cash equivalents at
beginning of period                      5,077           6,438           6,438
----------------------------        ----------      ----------     -----------
Exchange adjustments on 
cash and cash equivalents                  (12)            (14)            (66)
----------------------------        ----------      ----------     -----------
Cash and cash equivalents
at end of period                         5,617           3,867           5,077
----------------------------        ----------      ----------     -----------




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