Interim Results

Norish PLC
08 September 2006


                                   Norish plc
                         Interim Report to Shareholders

                        For the six months to 30 June 2006


Results

Norish plc announces pre-tax profits of £0.3m for the six months ended 30 June
2006. This compares with pre-tax profits of £0.9m (after net exceptional gains
of £0.7m) for the same period last year. Turnover from continuing operations
increased by £0.7m to £5.2m. The adjusted earnings per share increased to 2.2p
compared to 1.7p for the same period last year.

We started the year with high occupancy levels which have subsequently reduced
across the business.

The Bury St Edmunds site did not perform as well as expected due to the loss of
storage product from the closure of a customer's factory. We are confident that
we will replace this lost business in the second half of the year.

Our ambient food storage business experienced full occupancy for the first 6
months resulting in the use of third party warehouses to help cope with the
additional volumes. This is likely to continue well into the second half of the
year.

The group generated cash of £0.5m in the first half of the year to reduce the
net debt of the company to £6.7m.

Outlook

As is being experienced throughout industry, we are struggling to pass the full
impact of high energy costs to our customers. Our trading environment continues
to be difficult and I would caution against over-optimism in the second half of
the year.

Board Changes

Aidan Hughes was appointed to the board on the 7th September 2006 as Finance
Director. He joined the company in 1996 and has been responsible for the
Company's finance function over the past year. He will also continue in the role
as Company Secretary.

Norman Hatcliff has been appointed Managing Director. He joined the company in
2000 and was appointed to the board as Operations Director in July 2005.

Financial Strength

Shareholders funds at 30 June 2006 were £6.3m compared with £6.1m at 31 December
2005. Net debt at 30 June 2006 was £6.7m, compared with a net debt of £7.2m at
31 December 2005.

.

Dividend

The board has decided to declare an unchanged interim dividend of €1.25c (2005:
€1.25c) to be payable on 27 October 2006 for those shareholders on the record as
at 29 September 2006.

Ted O'Neill
Executive Chairman

8 September 2006

                                   Norish plc

                       Consolidated Profit & Loss Account

                            Six Months to 30 June 2006

                                      Six months to   Six months to   Six months to

                                      30 June 2006    30 June 2006    30 June 2005
                                             €'000           £'000           £'000
                                       (Unaudited)     (Unaudited)     (Unaudited)

Group turnover
        Continuing operations               7,575           5,227           4,536
        (see Note)
        Discontinued operations                 -               -           1,192
        (see Note)
                                           _______         _______         _______
                                            7,575           5,227           5,728

Cost of sales                              (6,630)         (4,575)         (5,256)

                                           _______         _______         _______

Gross profit                                   945             652             472


Administrative expenses                       (277)           (191)           (242)

Exceptional item -
reorganisation costs                             -               -            (197)
                                           _______         _______         _______
Operating profit
Continuing operations                          668             461             134
Discontinued operations (see Note)               -               -            (101)
                                           _______         _______         _______
                                               668             461              33

Exceptional item - profit
on sale of property -                            -               -             858
discontinued operations                    _______         _______         _______ 
(see Note)

Profit on ordinary
activities before interest                     668             461             891

Interest payable less
interest receivable                           (270)           (186)            (25)
                                            _______         _______         _______
Profit on ordinary
activities before taxation                      398             275             866

Tax on profit on ordinary
activities                                     (138)            (95)            (10)
                                             _______         _______         _______
Profit for the period                            260             180             856
                                              ======          ======          ======

Basic and diluted earnings 
per share                                      €3.1c             2.1p           10.1p
Adjusted earnings per
share; excluding goodwill
amortisation and exceptional
items.                                         €3.2c             2.2p            1.7p

Note : Discontinued operations in the prior year represented cocoa and coffee
commodity related services and non-food storage activities that were
discontinued as at the end of December 2005. Continuing operations turnover in
2006 includes £0.5m in respect of premises at Felixstowe that we currently
sub-let. These premises previously operated as a non-food storage site and such
activities form part of the discontinued operations results for the prior
period.
The unaudited financial information presented in pounds sterling as of and for
the period ended 30 June 2006 is also expressed in Euro, solely for convenience,
at the rate of €1 = £0.69, the closing rate for the period. No representation is
made that the pounds sterling amounts have been, could have been or could be
converted into Euro at that or any other rate.




                                   Norish plc

                           Consolidated Balance Sheet
                               As at 30 June 2006


                                        30 June 2006   30 June 2006   30 June 2005
                                               €'000          £'000          £'000
                                         (Unaudited)    (Unaudited)    (Unaudited)

Fixed assets

Intangible assets -
goodwill                                         303            209            224
Tangible fixed
assets                                        18,849         13,006          5,409
                                              ______         ______         ______
                                              19,152         13,215          5,633

Current assets

Debtors                                        3,886          2,681          3,052
Cash at bank and in
hand                                             736            508          1,668
                                              ______         ______         ______
                                               4,622          3,189          4,720
Creditors: due within one                     (4,012)        (2,768)        (3,597)
           year
                                              ______         ______         ______
Net current assets                               610            421          1,123
                                              ______         ______         ______
Total assets less
current liabilities                           19,762         13,636          6,756

Creditors: due after more than                (9,783)        (6,750)             -
           one year

Provisions for
liabilities and
charges                                         (917)          (633)          (654)
                                              ______         ______         ______
Net assets                                     9,062          6,253          6,102
                                              ======         ======         ======

Capital and reserves

Called up share
capital                                        2,164          1,493          1,493
Share premium
account                                        4,574          3,156          3,156
Capital conversion
reserve fund                                      33             23             23
Profit and loss
account                                        2,291          1,581          1,430
                                              ______         ______         ______
Shareholders' funds                            9,062          6,253          6,102
                                              ======         ======         ======






                                   Norish plc
                        Consolidated Cash Flow Statement
                           Six Months to 30 June 2006

                                        30 June 2006    30 June 2006    30 June 2005

                                               €'000           £'000          £'000
                                         (Unaudited)      (Unaudited)    (Unaudited)

Net cash inflow from
operating activities                            1,103            761            768

Returns on investments and
servicing of finance                            (270)          (186)           (25)
Taxation                                          271            187           (70)
Capital expenditure
and financial investment                         (313)          (216)         2,667
Equity dividends paid                            (104)           (72)          (119)
                                                 ______         ______        ______
Net cash inflow before 
financing activities                               687            474         3,221
Financing activities                              (362)          (250)       (1,077)
                                                 ______         ______         ______
Increase in cash in
the period                                          325            224        2,144
                                                  ======         ======        ======

Reconciliation of net cash flow to movement in net (debt) / funds

Increase in cash in
the period                                           325            224       2,144
Decrease in debt                                     362            250       1,077
                                                   ______         ______      ______
Change in net debt
resulting from cash flows                            687            474       3,221

Net debt at 1 January                             (10,458)        (7,216)    (1,967)
                                                   ______         ______     ______
Net (debt)/funds at 30 June                        (9,771)        (6,742)     1,254
                                                   ======         ======     ======



                                   Norish plc
                          Adjusted Earnings per Share

                           Six Months to 30 June 2006


                                         30 June 2006    30 June 2006  30 June 2005

                                               €'000            £'000         £'000
                                          (Unaudited)      (Unaudited)    (Unaudited)

Profit for the period
attributable to shareholders                      261              180             856
Goodwill amortisation                              10                7              7
Exceptional items (after tax at 30%
where appropriate)
- Reorganisation costs                              -                -             138
- Profit on sale of property                        -                  -          (858)
                                                ---------      ---------      ---------
Adjusted Earnings                                  271            187            143
                                                  ======         ======         ======

Weighted average number of
ordinary shares                                8,466,230       8,466,230       8,466,230

Adjusted earnings per share                        €3.2c            2.2p           1.7p
                                                  ======         =======       ========

The adjusted earnings per share figure is presented in order to illustrate
earnings per share on a consistent basis over time after eliminating the impact
of goodwill amortisation and significant
non-recurring items.


INFORMATION FOR SHAREHOLDERS



Register

The Company's share register and related records are maintained by Computershare
Services (Ireland) Ltd., to whom shareholder enquires, should be addressed.

Their address is Heron House, Corrig Road, Sandyford Industrial Estate, Dublin
18, Ireland. Telephone [phone].

Website

The group's website can be accessed at www.norish.com


















                      This information is provided by RNS
            The company news service from the London Stock Exchange