Interim Results

Libra Retail PLC
28 October 2005


LIBRA RETAIL PLC
28 October 2005

Libra Retail PLC ('the Company')

Interim results for the period from incorporation on 14 January 2005 to 31 July
2005

CHAIRMAN'S STATEMENT

I have pleasure in writing to you for the first time as Chairman of your company
since it was demerged from Safeland Plc and the ordinary shares admitted to
trading on AIM in March 2005.

For the period under review the Company made an operating loss of £32,642 and
its loss per share is 0.092 pence. The directors will not be recommending a
dividend at this time.

The directors have evaluated a number of potential acquisition opportunities to
date but we have not considered any of them suitable to progress with further.
Opportunities do continue to be investigated on a regular basis and I will be
writing to you once something suitable has been identified.

Larry Lipman
Chairman
28 October 2005


PROFIT AND LOSS FOR THE PERIOD FROM INCORPORATION ON 14 JANUARY 2005 TO 31 JULY
2005


                                                                   Period from
                                                                 incorporation
                                                                            on
                                                               14 January 2005
                                                                            to
                                         Note                     31 July 2005
                                                                             £

Administrative expenses                                               (32,642)

OPERATING LOSS                                                        (32,642)

Interest receivable and similar income                                    352

LOSS ON ORDINARY ACTIVITIES                                           (32,290)
BEFORE TAXATION

Tax on profit on ordinary activities                                        -

LOSS ON ORDINARY ACTIVITIES AFTER         4,8                         (32,290)
TAXATION AND RETAINED LOSS FOR THE
PERIOD

BASIC LOSS PER ORDINARY SHARE                                          (0.092)


BALANCE SHEET AS AT 31 JULY 2005 (UNAUDITED)

                                                                      31 July
                                                                         2005
                                                                            £

                                          Note

CURRENT ASSETS
Cash at bank and in hand                                               28,902

CREDITORS: amounts falling due                                         (5,000)
within one year

NET CURRENT ASSETS                                                     23,902

TOTAL ASSETS LESS CURRENT LIABILITIES                                  23,902

CAPITAL AND RESERVES
Called up share capital                                                56,192
Profit and loss account                                               (32,290)

EQUITY SHAREHOLDERS' FUNDS                4                            23,902



CASHFLOW STATEMENT FOR THE PERIOD FROM INCORPORATION ON 14 JANUARY 2005 TO 31
JULY 2005 (UNAUDITED)

                                                                  Period from
                                                                incorporation
                                                                           on
                                                              14 January 2005
                                                                           to
                                      Note                       31 July 2005
                                                                            £

Net cash outflow from operating           5                           (22,525)
activities

Returns on investment and servicing
of finance
Interest received                                                         352

Cash outflow before financing                                         (22,173)

Financing
Issue of share capital                                                 51,075

Increase in cash                                                       28,902


NOTES TO THE INTERIM FINANCIAL INFORMATION (UNAUDITED)
     
1.   Basis of preparation

     The financial information included in the interim report comprises the 
     profit and loss account, the balance sheets, cash flow statement and notes 
     1 to 8. These have been prepared in accordance with the normal accounting 
     policies of the Company.

     The financial information for the period from incorporation on 14 January 
     2005 to 31 July 2005 does not constitute statutory accounts within the 
     meaning of Section 240 of the Companies Act 1985. No statutory accounts 
     have yet been prepared for the Company, as this is the first period since 
     incorporation. The financial information for period from incorporation on 
     14 January 2005 to 31 July 2005 is unaudited and has not been reviewed by 
     the Group's auditors.

     Copies of this statement are being sent to all shareholders and are 
     available to the public for collection at the company's registered office 
     at 94-96 Great North Road, London N2 0NL.
     
2.   Segmental information

     The company has not yet traded. Operating loss and net assets are derived 
     from startup activities, predominantly the issue of share capital and 
     administrative fees. All activities occur in the UK.
     
3.   Loss per share

     The loss per share for the period is calculated based upon the following
     information.

                                                                   Period from
                                                                 incorporation
                                                                            on
                                                               14 January 2005
                                                                            to
                                                                  31 July 2005
                                                                             £

Basic loss per share
Loss after taxation                                                    (32,290)

Weighted average number of shares in
issue during the period                                             34,750,773

Weighted average number of dilutive share
options in issue during the period                                           -
     
4.   Reconciliation of movements in shareholders' funds

                                                                   Period from
                                                                 incorporation
                                                                            on
                                                               14 January 2005                
                                                                            to
                                                                  31 July 2005
                                                                             £

Retained loss for the period                                           (32,290)
Issue of shares on incorporation                                        51,192
Issue of shares in the period                                            5,000

Net addition to shareholders' funds                                     23,902

Opening shareholders' funds                                                  -

Closing shareholders' funds                                             23,902
     

5.   Reconciliation of operating loss to net cash outflow from operating 
     activities

                                                                   Period from
                                                                 incorporation
                                                                            on
                                                               14 January 2005 
                                                                            to
                                                                  31 July 2005
                                                                             £

Operating loss                                                         (32,642)
Increase in creditors                                                    5,000
Issue of shares to settle expenses                                       5,000
Write off of share capital debtor                                          117

Net cash outflow from operating                                        (22,525)
activities
     
6.   Reconciliation of net cash flow to movement in net funds

                                                                   Period from
                                                                 incorporation
                                                                            on
                                                               14 January 2005 
                                                                            to
                                                                  31 July 2005
                                                                             £

Increase in cash for the period                                         28,902

Change in net funds resulting from cash                                 28,902
flows
Net debt brought forward                                                     -

Net funds carried forward                                               28,902

     
7.   Analysis of net debt

                                                   At 14      
                                                 January       Cash    31 July
                                                    2005      flows       2005
                                                       £          £          £

Cash in hand and at bank                               -     28,902     28,902
Debt due after one year                                -          -          -
Debt due within one year                               -          -          -

Total                                                  -     28,902     28,902
     

8.   Statement of movements on share capital and reserves

                                               Called up      Profit     
                                                   share    and loss     
                                                 capital     account      Total
                                                   £'000       £'000      £'000

Shares issued on incorporation                    51,192           -     51,192
Shares issued in period                            5,000           -      5,000
Retained loss for the period                           -     (32,290)   (32,290)

At 31 July 2005                                   56,192    (32,290)     23,902



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