Interim Results

BGR PLC
27 July 1999
                           

Interim Results for the six months ended 30 April 1999

BGR plc, the London based operator of the 'Bank' and 'Fish!' restaurant
concepts and a specialist food preparation division, which supplies
premium quality fish, poultry and meat to the London hotel and restaurant
market, today announces half year results for the six months ended 30
April 1999.

*    Group turnover up 31% to £9.4m (1998:  £7.2m), including initial
     contributions from Fish!

*    Profit before tax increased by 15% to £1.1m  (1998:  £984,000)

*    Basic earnings per share of 5.4p  (1998:  4.3p)

*    Food Preparation Division trading well with turnover up 34% to £6.04m
     (1998:  £4.5m)

*    Fish! at Borough Market has exceeded expectations.  Four further
     locations secured and several further sites currently under
     evaluation

*    Two further 'Bank'-style operations due to open in Birmingham (end
     1999) and Westminster (Spring 2000)

*    Proposed Placing of 2.37m new shares to raise £5.7m (gross) to fund
     Group's future expansion -   (see separate announcement)

Tony Allan, Chairman & Chief Executive, commented:

'I am pleased to report an excellent start to the year and a continuing
strong performance across all of the Group's divisions.  We are extremely
encouraged for the future potential of Fish!, in particular, and our
planned expansion of the restaurant division is now underway.

'The Directors are confident that this will be a year of significant
growth for the Group and I look forward to reporting on our continued
success at the year end'.


ENQUIRIES:

BGR plc                                       Today: 0171 457 2020
Tony Allan, Chairman & Chief Executive   Thereafter: 0171 358 1617
Jeremy Ormerod, Finance Director

College Hill                                    Tel: [phone]
Justine Warren


CHAIRMAN'S STATEMENT

This is the second interim statement issued by your Company since its
admission to AIM on 5 March 1998 and I am pleased to report that the Group
is trading in line with expectations and has made considerable progress
during this financial year.  The immediate success of our first Fish!
restaurant, which opened in February 1999, has demonstrated that this
concept has been well received by our customers.

The strengthening of our Food Preparation Division along with the
impending addition of two 'Bank'-style operations leaves us well placed to
enjoy continued expansion into the new millennium.

Financial Performance
Our share price over the last 12 months initially reflected the general
uncertainty in the restaurant sector and the UK economy as a whole.  I am
pleased that the expected downturn has not materialised for your Company.

Group turnover grew by 31% to £9.4m (1998: 1998: £7.2m).  Profit before
tax for the six months to 30 April 1999 was £1,128,000, an increase of 15%
on last year (1998: £984,000).  Earnings per share were 5.4p (1998: 4.3p),
an increase of 26%.

The Restaurant Division
The Restaurant Division has benefited from the additional operations of
Fish! in Southwark, London (opened in February 1999) and Lawn in
Blackheath, London which was acquired in October 1998.  Turnover grew by
21% to £3.5m (1998: £2.9m) and profit before tax grew by 49% to £896,000
(1998: £602,000).

'Bank' restaurant in Aldwych continues to trade well and benefits from its
established reputation.  I consider that 'Bank' demonstrates your
Company's ability to maintain its quality of operation having gained high,
stable performance in a short period of time.

The additional 'Bank'-style restaurants in Westminster in London and
Brindley Place in Birmingham continue to progress with the openings
remaining as early 2000 and end 1999 respectively.

I am extremely pleased to report that Fish! in Southwark opened to an
immediate demand that exceeded our expectations.  This popularity has
continued into the year with the added benefit of an open air terrace.
The attached prepared fish retail shop has also proved to be very popular
and has achieved profitability in its first month of operation.  The home
delivery service has recently commenced and is developing well.

The Directors are confident that the success at Southwark can be
replicated at a number of additional sites and are currently negotiating
further appropriate leases in the London area.

Lawn in Blackheath, London represents 'Bank'-style in the London suburbs.
Since its acquisition, it has performed in line with expectations.
However, with the success of Fish!, the Group's attention will continue to
focus on this area of opportunity along with the larger 'Bank'-style
operations.

The Specialist Food Preparation Division
The Specialist Food Preparation Division continues to provide stability of
supply to the Group's restaurant operations with additional strong
external sales.  Turnover grew by 34% to £6.04m (1998: £4.5m) and
operating profits grew by 20% to £511,000 (1998: £426,000).

The growth is due to the accumulated effect of the acquisition of West
Coast Shellfish and C.C. Wholesale, the Group's start up venture at
Billingsgate, in addition to organic growth.  The division has received
significant management attention during the six months to establish its
ability to support the future growth of the Restaurant Division.  This
will enable the restaurant growth to continue to benefit from the control
of produce cost and the major additional benefit of enabling restaurant
staff numbers to remain low due to the advanced preparation work
undertaken at the Food Preparation Division.

We continue to focus on the relationships with our buying sources in order
to maintain the quality of our products, thereby continuing the high
standard of produce that we supply to over 250 restaurants and hotels in
the London area.

IT Division
Your Company acquired Crestport Limited, trading as Bank Solutions, in
February 1999.  This company forms our internal IT Division with its
software and hardware sold to both the Group's restaurants and to external
customers.  The division has traded at a small profit since its
acquisition and, more significantly, has completed new software versions
of its restaurant EPOS system.  It is now well placed to take advantage of
this superior EPOS and reservation system in the external market place.

Staffing
Whilst the Restaurant Division continues to benefit from a high profile
which proved attractive to potential employees, we are now able to enjoy
the positive effects of internal promotion which increases our ability to
retain staff.  It is the Directors' opinion that the Group's wage policy
and payment structure do not breach the minimum wage requirements.

Dividends
In view of the cash required for the expansion programme, the rate of the
return on capital expected from the new restaurants and the Company's
continued intention to maximise its growth, the Board currently intends to
recommend the payment of a final dividend for the year ending 31 October
1999 after a further six months trading.

Year 2000
The Group has assessed the impact of the Year 2000 on its business and
operations.  It has been concluded that the Group will not be adversely
affected in any material area of its operations by the Year 2000 issue and
no significant costs will be incurred in achieving a state of readiness
for Year 2000.

Future Prospects
Your Company has had an encouraging start to this year.  The Group has
continued to grow and is now well positioned to obtain maximum benefit
from the Restaurant Division's expansion with the underpinning of the Food
Preparation and IT Divisions.

This, together with the contribution from the further restaurant
operations planned to open in the next 12 months, and the ability to take
advantage of our strong balance sheet, gives us every confidence that this
year will be one of significant growth for the Group.

Your Directors will continue to follow a focused strategy for the
expansion of the Group based on the existing Specialist Food Preparation
Division and the existing and future operations within the Restaurant
Division.  I look forward to reporting our continued success to you at the
year end.

Tony Allan
Chairman & Chief Executive


Group Profit and Loss Account

                                 Unaudited       Unaudited          Audited
                                Six months      Six months             Year
                                     ended           ended            ended
                                  30 April        30 April       31 October
                                      1999            1998             1998
                                     £'000           £'000            £'000
                                                             
Turnover                             9,441          7,172           15,351
Cost of sales                       (4,788)        (3,730)         (7,918)
                                                             
Gross profit                         4,653          3,442           7,433
Administrative expenses             (3,440)        (2,407)         (5,282)
                                     1,213          1,035           2,151
                                                             
Interest receivable                  15             32              93
Interest payable                    (100)          (83)            (170)
                                                             
Profit on ordinary activities                                
before taxation                      1,128          984             2,074
Tax  on  profit  on  ordinary                                
activities before taxation           (282)          (305)           (634)
                                                             
Profit on ordinary activities                                
after taxation                       846            679             1,440
Dividends                            -              -               (360)
                                                             
Retained profit for period           846            679             1,080
                                                             
Basic earnings per share             5.4p           4.3p            9.2p
                                                             
Diluted earnings per share           5.1p           4.2p            8.9p

                                     
Group Balance Sheet
                                     
                                 Unaudited       Unaudited          Audited
                                     As at           As at            As at
                                  30 April        30 April       31 October
                                      1999            1998             1998
                                     £'000           £'000            £'000
                                                             
Fixed assets                                                 
Intangible                             656            -               350
Tangible                             6,732          3,380           4,751
                                     7,388          3,380           5,101
                                                             
Current assets                                               
Stock                                  903            169             844
Debtors                              3,132          1,998           3,128
Cash at bank                           397          1,793           1,452
                                     4,432          3,960           5,424
                                                             
Creditors:  amounts   falling                                
due within one year                (3,829)        (2,866)         (4,062)
                                                             
Net current assets                    603           1,094           1,362
                                                             
Total   assets  less  current                                
liabilities                         7,991          4,474           6,463
                                                             
Creditors:  amounts   falling                                
due after more than year          (2,145)           (30)          (1,715)
                                                             
Net assets                         5,846           4,444           4,748
                                                             
Capital and reserves                                         
Share capital                      1,582          1,563           1,563
Share premium account              2,436          2,295           2,203
Merger reserve                    (1,375)        (1,375)         (1,375)
Profit and loss account            3,203          1,961           2,357
                                                             
Equity Shareholders' funds         5,846          4,444           4,748
                                     

Interim Results for the six months ended 30 April 1999

Notes
Basis of preparation
The results for BGR plc for the six months ended 30 April 1999 and the
comparative figures for the six months ended 30 April 1998 are unaudited.
They have been prepared on accounting bases and policies that are
consistent with those used in the preparation of the financial statements
of the Group for the year ended 31 October 1998.

The results for the year ended 31 October 1998 are extracted from the
latest audited accounts approved by the Members at the Annual General
Meeting.  These accounts, which received an unqualified report, have been
delivered to the Registrar of Companies.

The unaudited Profit and Loss Account and Balance Sheet for the current
and prior interim periods do not amount to statutory accounts within the
meaning of section 240 of the Companies Act 1985 and have not been
delivered to the Registrar of Companies.

Basis of consolidation
The consolidated unaudited accounts for BGR plc incorporate the accounts
of Cutty Catering Specialists Limited and Marchthistle Limited using the
merger accounting method, and those of Crestport Limited using the
acquisition accounting method.  Cutty Catering Specialists Limited
accounted for the acquisition of its subsidiary using the acquisition
accounting method.

Goodwill
Goodwill arising on the acquisition of subsidiary undertakings by the
Group companies was previously eliminated against reserves on
consolidation in the year in which it arose.  Goodwill so eliminated will
be charged in the profit and loss account in the event of any subsequent
disposal of the business to which it relates.  In accordance with
Financial Reporting Standard 10 provisional goodwill arising on the
acquisition of Crestport Limited will be capitalised as an intangible
fixed asset and amortised over a period of 20 years.  Any impairment will
be charged directly to the profit and loss account.

Earnings per share
Basic earnings per share for the six months ended 30 April 1999 has been
calculated based on the weighted average number of shares in issue during
the period of 15,761,986 and earnings for the period of £846,000.

Diluted earnings per share has been calculated based on the weighted
average number of shares of 16,733,492 which includes the dilutive
potential of share under option.

Copies available
Copies of the interim report will be sent to all shareholders and are
available to the public from the Company's registered office at 15-19
Kingsway, London WC2B 6UA for a  period of fourteen days from Tuesday, 27
July 1999.