Final Results

Fiske PLC
30 August 2006

The year ended 31 May 2006 resulted in a profit before tax of £513,000 compared
with £558,000 (which included £246,000 from the final sale of London Stock
Exchange shares) profit in the previous year. This was after a provision for
amortisation of goodwill of £150,000 for the year. Of this provision half was in
respect of the goodwill incurred in the purchase of business assets four years
ago which are now fully amortised. The other half is in respect of the goodwill
incurred in the purchase of the Ionian Group.



In relation to the Ionian Group, of its original cost of £1,146,000 some
£696,000 has been amortised leaving a carrying value of £450,000. The board, in
accordance with current accounting conventions, now assesses annually whether
this is fair value. The fees generated by this division exceed £200,000 a year
and as a result the board is of the opinion that the carrying value of £450,000
represents fair value.



In December 2005 we renewed the lease on our premises at Salisbury House on
favourable terms for a further 5 years and took the opportunity to invest in
open planning and improving our office facilities. We believe that this will
lead to greater productivity from our hardworking employees and associates.



At our year end Philip Lovegrove (aged 69) retired from the board. Philip joined
Fiske on the acquisition of the Ionian Group in June 2002 and has been a source
of good business leads and wise counsel over the past four years. He will be
remaining as a consultant to the company. At the same time Byron Fiske Harrison
(aged 39) who recently joined us from Goldman Sachs in Singapore joined the
board as an Executive Director.



The current year has started quietly but with our contingent liabilities now
practically eliminated and our fee income steadily building up we are in a
position to face the current year with confidence. Our funds under management,
which are mainly advisory funds, have shown significant growth in recent years
and are a major source of strength for the company.



M J Allen

Chairman

29 August 2006

                                                                                2006                 2005
                                                                                               (restated)
                                                          Notes                £'000                £'000
TURNOVER
Gross commission and similar income                           1                4,420                3,924
Commission payable                                            1              (1,237)              (1,115)
Other income                                                  1                  152                  199
                                                                               3,335                3,008
OPERATING COSTS
Staff costs                                                   2              (1,300)              (1,259)
Amortisation of intangible fixed assets                      10                (207)                (184)
Depreciation                                                 11                 (43)                 (53)
Other operating charges                                                      (1,470)              (1,452)
                                                                             (3,020)              (2,948)
OPERATING PROFIT                                              4                  315                   60
Gain on disposal of fixed asset investment                   13                    8                  263
Other income from fixed asset investments                    13                   17                   40
Interest receivable and similar income                        5                  181                  203
Interest payable and similar charges                          6                  (8)                  (8)

PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION                                    513                  558
Taxation charge on profit on ordinary activities              7                (163)                (175)

PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION                                     350                  383
Dividends paid                                                8                (332)                (331)
Retained profit for the financial year                       22                   18                   52
Retained profit brought forward                                                  992                  940
Retained profit carried forward                                                1,010                  992
Basic earnings per share                                      9                 4.2p                 4.6p
Diluted earnings per share                                    9                 4.2p                 4.6p
Headline earnings per share                                   9                 5.8p                 4.1p
Headline diluted earnings per share                           9                 5.7p                 4.1p

All activities relate to continuing operations; there are no recognised gains or
losses other than the profit for the current and prior years as shown above.

                                                                                2006                 2005
                                                                                               (restated)
                                                          Notes                £'000                £'000
FIXED ASSETS
Intangible assets                                            10                  697                  622
Tangible assets                                              11                  192                   41
Other investments                                            13                  176                  108
                                                                               1,065                  771
CURRENT ASSETS
Market and client debtors                                    14                6,518               16,643
Other debtors                                                15                  298                  380
Investments                                                  16                    -                  164
Cash at bank and in hand                                     17                4,265                3,575
                                                                              11,081               20,762
CREDITORS: amounts falling due within one year
Market and client creditors                                  18              (7,190)             (16,574)
Other creditors                                              19                (683)                (704)
                                                                             (7,873)             (17,278)
NET CURRENT ASSETS                                                             3,208                3,484
TOTAL ASSETS LESS CURRENT LIABILITIES                                          4,273                4,255
PROVISION FOR LIABILITIES AND CHARGES                        20                    -                    -
NET ASSETS                                                                     4,273                4,255
CAPITAL AND RESERVES
Called up share capital                                      21                2,078                2,078
Share premium account                                        22                1,185                1,185
Profit and loss account                                      22                1,010                  992
EQUITY SHAREHOLDERS' FUNDS                                   22                4,273                4,255



These financial statements were approved by the Board of Directors on 29 August
2006.





Signed on behalf of the Board of Directors



C F Harrison

Chief Executive Officer

                                                                                2006                 2005
                                                                                               (restated)
                                                          Notes                £'000                £'000
FIXED ASSETS
Intangible assets                                            10                  697                  622
Tangible assets                                              11                  192                   41
Investment in subsidiaries                                   12                  432                  432
Other investments                                            13                  176                  108
                                                                               1,497                1,203
CURRENT ASSETS
Market and client debtors                                    14                6,518               16,643
Other debtors                                                15                  298                  380
Investments                                                  16                    -                  164
Cash at bank and in hand                                     17                4,265                3,575
                                                                              11,081               20,762
CREDITORS: amounts falling due within one year
Market and client creditors                                  18              (7,190)             (16,574)
Other creditors                                              19              (1,168)              (1,189)
                                                                             (8,358)             (17,763)
NET CURRENT ASSETS                                                             2,723                2,999
TOTAL ASSETS LESS CURRENT LIABILITIES                                          4,220                4,202
PROVISION FOR LIABILITIES AND CHARGES                        20                    -                    -
NET ASSETS                                                                     4,220                4,202
CAPITAL AND RESERVES
Called up share capital                                      21                2,078                2,078
Share premium account                                        22                1,185                1,185
Profit and loss account                                      22                  957                  939
EQUITY SHAREHOLDERS' FUNDS                                   22                4,220                4,202



These financial statements were approved by the Board of Directors on 29 August
2006.





Signed on behalf of the Board of Directors



C F Harrison

Chief Executive Officer

                                                          Cash                 2006                 2005
                                                          flow
                                                         notes                £'000                £'000
Net cash inflow/(outflow) from operating activities          1                1,654                (484)
Returns on investment and servicing of finance               2                  190                  235
Taxation - UK corporation tax paid                                            (185)                (162)
Capital expenditure and financial investment                 2                (543)                  192
Equity dividends paid                                                         (332)                (306)
Increase/(decrease) in cash                               3, 4                  784                (525)


1.            RECONCILIATION OF OPERATING PROFIT TO NET CASH
              INFLOW/(OUTFLOW) FROM OPERATING ACTIVITIES
                                                                                 2006                 2005
                                                                                £'000                £'000
Operating profit                                                                  315                   60
Depreciation charges                                                               43                   53
Amortisation of intangible fixed assets                                           207                  184
Decrease/(increase) in current asset investments                                  164                (164)
Decrease/(increase) in debtors                                                 10,204              (3,406)
(Decrease)/increase in creditors                                              (9,279)                2,789
Net cash inflow/(outflow) from operating activities                             1,654                (484)





2.            GROSS CASH FLOWS
                                                                                 2006                 2005
                                                                                £'000                £'000
Returns on investments and servicing of finance
Interest received                                                                 181                  203
Interest paid                                                                     (8)                  (8)
Dividends received                                                                 17                   40
                                                                                  190                  235
Capital expenditure and financial investment
Proceeds from sale of London Stock Exchange shares                                  -                  246
Payments to acquire tangible fixed assets                                       (194)                 (37)
Payments to acquire intangible fixed assets                                     (282)                    -
Purchase of fixed asset investments                                             (290)                 (95)
Proceeds from sale of fixed asset investments                                     223                   78
                                                                                (543)                  192





3.            ANALYSIS OF CHANGES IN NET FUNDS
                                                     At 1 June                 Cash            At 31 May
                                                          2005                flows                 2006
                                                         £'000                £'000                £'000
Cash at bank and in hand                                 3,575                  690                4,265
Bank overdrafts                                           (94)                   94                    -
                                                         3,481                  784                4,265


4.            RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS


                                                                                2006                 2005
                                                           Note                £'000                £'000
Increase/(decrease) in cash in the year                       3                  784                (525)
Change in net cash                                                               784                (525)
Net funds at 1 June 2005                                                       3,481                4,006
Net funds at 31 May 2006                                                       4,265                3,481













Note to the financial statement for the year ended 31 May 2006.



The above results for the year ended 31 May 2006 are an abridged version of the
Group's audited statutory financial statements which have not yet been filed
with the Registrar of Companies. The balance sheet and profit and loss account
do not constitute statutory financial statements within the meaning of Section
240 of the Companies Act 1985 (as amended). These statements have been prepared
on a consistent basis with the accounting policies as stated in the previous and
current years' financial statements.



The results for the years ended 31 May 2006 and 2005 have been extracted from
the financial statements of the company on which unqualified reports from the
auditors have been issued and which in respect of 31 May 2005 accounts have been
filed with the Registrar of Companies.



Copies of this announcement are available from the Group's registered office at
Salisbury House, London Wall, London, EC2M 5QS.



The Annual Report and Accounts will be sent to shareholders on 1 September 2006.



Enquiries:          Clive Harrison (Chief Executive Officer)  - 020 7448 4700.


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