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Jordec Group PLC (MLG)

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Friday 17 March, 2000

Jordec Group PLC

Final Results - Year Ended 26 September 1999

Jordec Group PLC
17 March 2000

Jordec Group plc

Preliminary  announcement  of  results for the  fifty  two  weeks  ended  26
September 1999

CHAIRMAN'S STATEMENT

The  Group's  pre exceptional profit before taxation for the  fifty  two  week
period  ended  26 September 1999 was £301,000 (1998: £903,000) after  goodwill
amortisation  of  £68,000 (1998: £nil).  Turnover for  the  period  was  £34.4
million  (1998: £38.6 million).  Comparable headline earnings per  share  were
1.3p  (1998: 5.0p).  Year end gearing was 35 per cent. (1998: 184  per  cent).
No dividend is proposed.

The  exceptional  loss  of £758,000 includes £111,000 of  goodwill  previously
written  off to reserves, the costs associated with the restructuring  of  the
administrative  departments within our Cleaning and Travel  division  and  the
costs  of  concluding a disputed 1996 decontamination contract  with  a  major
nuclear  industry  customer which was entered into by  Jordan  Engineering  UK
Limited prior to its acquisition by the Group

Financial Review

Our  overall  performance this year suffered as a result of  a  26  per  cent.
reduction  in  turnover  in  our  Nuclear and Engineering  Services  division.
Management  did well to minimise the adverse profit impact arising  from  this
significant turnover reduction and the Group's turnover in the second half was
in overall terms one third higher than the turnover achieved in the first half
mainly  because  of  the  increased turnover  from  our  Cleaning  and  Travel
division.  Operating profit before goodwill amortisation was £520,000  in  the
second  half;  this was more than double the £254,000 achieved  in  the  first
half.  Gross profit margins have strengthened gradually throughout the last 18
months with 1999 showing a 18.6 per cent. margin (1998: 13.9 per cent.)  as  a
result  of focusing the Group's activities on partnership and service,  rather
than contractor related activities. The Group's borrowings reduced by £109,000
in  the second half of the year and by £2.8 million during the fifty two weeks
since 27 September 1998.

Acquisitions and Disposals

The  Group purchased the entire issued share capital of Checkclean Limited and
its  subsidiary,  Corporate Clean Limited, on 15  March  1999  for  a  maximum
consideration  of £2.15 million.    This acquisition broadened the  geographic
coverage  of our Cleaning and Travel division operations and has provided  the
Group  with the opportunity to benefit from the integration of management  and
administrative functions of three previously separate regional businesses.
The  Group disposed of the loss making chauffeuring business carried on by Two
Flags  Connect  Business Services Limited on 11 August  1999  for  an  initial
consideration   of   £79,000  with  a  further  £30,000   maximum   additional
consideration  payable  dependant upon the  level  of  business  with  certain
customers during the twelve months following disposal.

Operational Review

Excellence  Limited was successful in securing new long term work  at  Gatwick
Airport during the year and our Skycaps and baggage handling services are  now
present  at  London's  two  busiest  airports.    Alpha  Excellence  has  been
successfully  integrated  into the group and this  operation  saw  a  pleasing
turnover  increase  during  1999.   Checkclean Excellence  is  a  welcome  new
addition to the group and the integration of its administrative and management
structures into our Cleaning and Travel Division will be completed during  the
first  half  of  the  current year after which we expect  annualised  overhead
savings of at least £300,000.

Jordan's  operations continued to develop by establishing  site  presences  on
nuclear  sites at Devonport and Dungeness which have produced work  which  can
now  be added to established site work at Sellafield, Harwell and Trawsfynydd.
The  major  1998  laser  cutter investment at Jordan Fabrications  produced  a
positive  contribution to this operation, particularly in the second  half  of
the year.

The Board

Peter  Simonis, a non executive director since 4 February 1992, died  suddenly
on 14 February 2000.  He will be sadly missed and remembered by his colleagues
for the valuable contribution he made as a member of the Board.

Strategy

The  Board's  strategy during the last twenty months has been to increase  the
Group's  presence in the expanding business services sector, thereby  reducing
our  overall exposure to cyclical market activities.  The group has made three
acquisitions   in  the  services  sector  during  this  period   and   today's
announcement  of the proposed acquisitions of MacLellan International  Limited
and  its  smaller  sister companies, MacLellan Engineering  Services  PLC  and
MacLellan  Internacional Limitada, strengthens our position as a fast  growing
provider  of  specialist  business services.  As  indicated  in  the  separate
announcement concerning the proposed acquisitions, the Board believes that the
new  Group, to be renamed MacLellan Group plc, will be a leading player in the
provision of integrated facilities management services.

Outlook

The  proposed acquisitions announced today totally transform the prospects for
the new Group and the Board looks forward to the future with confidence.

A L R Morton
Chairman



GROUP PROFIT AND LOSS ACCOUNT
for the fifty two week period ended 26 September 1999

                    Before Exceptional     1999        1998
               exceptional       items     total             
                                                            
                       £000      £000      £000        £000
                                                                         
Turnover                                                   
Continuing                                                 
operations:
Existing            30,392          -    30,392      29,990
operations
Acquisitions         3,734          -     3,734          -
                  --------   --------  --------  ----------
                       
                    34,126          -    34,126      29,990
Discontinued           272          -       272       8,602
operations
                    34,398          -    34,398      38,592
                                                           
Cost of sales     (27,989)      (459)  (28,448)    (33,219)
                   --------  --------  --------  ----------
                       ----    ------  --------      ------
                                                           
Gross profit         6,409      (459)     5,950       5,373
                                                           
Administrative     (5,703)      (219)   (5,922)     (4,128)
expenses
                                                           
Operating profit                                           
Continuing                                                 
operations
Existing               553      (678)     (125)       1,057
operations
Acquisitions           320        -         320           -
                   -------   --------  --------  ----------
                       873      (678)       195       1,057
Discontinued         (167)          -     (167)         188
operations         -------   --------  --------  ----------
                       706      (678)        28       1,245
                                                           
Exceptional items        -       (80)      (80)       (564)
                                                           
Interest             (405)          -     (405)       (342)
                   --------  --------  --------  ----------
                     
                                                           
(Loss)/profit  on                                          
ordinary                301     (758)     (457)         339
activities before  ========  ========  
taxation                                 
Taxation                                      -         (2)
                                                           
                                       --------  ----------
                                       --------   ---------
(Loss)/profit  on                         (457)         337
ordinary                               ========  ==========
activities  after                            
taxation
                                                           
Earnings per                                          
share                                     
Headline basis                                             
- undiluted                               1.3p         5.0p                   
                           
- diluted                                 1.1p         4.3p
FRS 3 basis                                                
- undiluted                             (1.7)p         1.9p
- diluted                               (1.5)p         1.6p
                                                           

The  above  figures are stated on a historical cost basis and  are  the  total
recognised  gains  and  losses for the period. The analysis  of  turnover  and
operating profit in 1998 has been restated for discontinued operations.

CONSOLIDATED BALANCE SHEET
at 26 September 1999


                                          26         27
                                   September  September
                                        1999       1998
                                        £000       £000
Fixed assets                                           
Intangible assets                      2,869        494
Tangible assets                        3,058      3,965
Investments                              275        300
                                   ---------  ---------
                                  
                                       6,202      4,759
                                   ---------  ---------
                              
Current assets                                         
Stocks                                 1,505      1,421
Debtors                               10,130      8,409
Cash at bank and in hand                 396         12
                                   ---------  ---------
                             
                                      12,031      9,842
                                   ---------  ---------
                            
Creditors:  Amounts  falling   due                     
within one year
Borrowings                           (1,116)    (3,109)
Other creditors                      (9,879)    (7,000)
                                   ---------  ---------
                                 
                                    (10,995)   (10,109)
                                   ---------  ---------
                                                                    
Net current assets/(liabilities)       1,036      (267)
                                   ---------  ---------
                               
Total    assets    less    current     7,238      4,492
liabilities
                                                       
Creditors:  Amounts  falling   due                     
after more than one year
Borrowings                           (1,362)    (1,816)
                                   ---------  ---------
                                    
                                       5,876      2,676
                                     =======     ======
Shareholders' funds (including non-                    
equity interests)
Ordinary shares                        1,580      1,055
Convertible preference shares            500        500
Ordinary shares to be issued             110        600
Share premium account                  4,003        747
Other reserves                           204        204
Profit and loss account                (521)      (430)
                                   ---------  ---------
                              
Total shareholders' funds              5,876      2,676
                                     =======    =======


GROUP STATEMENT OF CASH FLOWS
for the fifty two week period ended 26 September 1999

                                        1999      1998
                                        £000      £000
                                                      
Net  cash  inflow/(outflow)  from        988     (779)
operating activities
                                                      
Returns   on   investments    and                     
servicing of finance
Interest paid                          (356)     (273)
Interest element of finance lease       (76)      (49)
payments                           --------- ---------
                                 
                                       (432)     (322)
                                   --------- ---------
                              
Taxation                                (27)         -
                                                      
Capital expenditure and financial                     
investment
Payments to acquire tangible  and                     
intangible fixed assets                (229)     (789)
Receipts    from   disposal    of        683        49
tangible fixed assets
Investment in unquoted company             -     (300)
Proceeds   from   redemption   of         25         -
shares in unquoted company         --------- ---------
                                   
                                         479   (1,040)
                                   --------- ---------
                               

Acquisitions and disposals                            
Purchase       of      subsidiary    (1,513)     (175)
undertaking
Cash   balances   of   businesses      (282)     (119)
acquired
Additional    consideration    on                     
acquisitions made in prior year        (235)         -
Disposal    of    business     of         66     1,159
subsidiary undertaking
Cash    balances   of    business          -     (250)
disposed                           --------- ---------
                                          
                                     (1,964)       615
                                         
                                   --------- ---------
Net cash outflow before financing      (956)   (1,526)
                                                      
Financing                                             
Ordinary shares issued                 3,990       347
Expenses  incurred  in  issue  of      (209)       (2)
ordinary shares
Loans issued/(repaid)                    489       (6)
Capital element of finance  lease      (743)     (435)
and hire purchase payments         --------- ---------
                                         
Net  cash  inflow/(outflow)  from      3,527      (96)
financing
                                   --------- ---------
                                       
Increase/(decrease)  in  cash  in      2,571   (1,622)
the period                                            
                                 
                                     =======   =======



NOTES TO THE GROUP STATEMENT OF CASH FLOWS
for the fifty two week period ended 26 September 1999

RECONCILIATION OF OPERATING PROFIT TO NET CASH OUTFLOW  FROM
OPERATING ACTIVITIES

                                           1999          1998
                                           £000          £000
Operating Activities                        

Operating profit                             28         1,245
Amortisation                                120            31
Depreciation                                588           552
Profit  on  disposal of  tangible          (24)           (8)
fixed assets
(Increase)/decrease in stocks              (49)           395
(Increase) in debtors                     (647)       (3,897)
Increase in creditors                       972           903
                                       --------     ---------
Net  cash  inflow/(outflow)  from           988         (779)
operating activities
                                          =====        ======

RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET DEBT

                                           £000          £000
Increase/(decrease) in  cash  for         2,571       (1,622)
the period
Net  cash  flow from  changes  in           254           441
debt
New   finance  leases  and   hire                            
purchase agreements                        (94)         (844)
Loans    and    finance    leases          (28)         (832)
obligations     acquired     with
purchase of business
Finance   lease  obligations   of           128           116
business sold
                                     ----------  ------------
                                                       
                                                             
Movement  in  net  debt  in   the         2,831       (2,741)
period
Net debt at beginning of period         (4,913)       (2,172)
                                   ------------   -----------
Net debt at end of period               (2,082)       (4,913)
                                        =======       =======

ANALYSIS OF CHANGES IN NET DEBT DURING THE PERIOD

                       At 27    Cash  Other  Acquir    Debt    At 26
                     Septemb    flow   non-      ed      on  Septemb
                          er           cash    debt  dispos  er 1999
                        1998          chang             als         
                                         es
                        £000    £000   £000    £000    £000     £000
                                                                    
Cash at bank and in       12     384      -       -       -      396
hand
Overdrafts           (2,187)   2,187      -       -       -        -
                     
                     -------  ------  -----  ------  ------  -------
                     (2,175)   2,571      -       -       -      396
                     -------  ------  -----  ------  ------  -------
                  
                                                                    
Debt due within one    (459)   (489)      -       -       -    (948)
year
Debt due after  one  (1,250)       -      -       -       -  (1,250)
year
Finance leases  and              
hire       purchase  (1,029)     743   (94)    (28)     128    (280)
agreements           -------    ----   ----   -----   -----    -----
                
                     (2,738)     254   (94)    (28)     128  (2,478)
                     -------  ------  -----  ------  ------  -------
                       -----    ----   ----    ----     ---     ----
                     (4,913)   2,825   (94)    (28)     128  (2,082)
                     =======   =====  =====  ======  ======  =======
                                    

NOTES

SEGMENTAL ANALYSIS

                                         Fifty two Fifty two
                                             weeks     weeks
                                          ended 26  ended 27
                                         September September
                                              1999      1998
                                              £000      £000
Turnover                                                    
Business segment analysis:                                  
Nuclear and engineering services            20,318    27,295
Cleaning and travel services                13,808     2,695
                                         --------- ---------
                                            34,126    29,990
Discontinued operation                         272     8,602
                                         --------- ---------
                                                
                                            34,398    38,592
                                            ======    ======
Geographical   market    analysis    by                     
destination:
UK                                          33,524    32,723
Europe                                         874     5,869
                                         --------- ---------
                                            34,398    38,592
                                           =======   =======


EARNINGS PER SHARE

The  earnings  per share calculation has been based  on  the
weighted average number of shares in issue during the period
of  26,855,082  (undiluted) and 30,440,011  (fully  diluted)
(1998:  17,893,009 and 20,697,309 respectively).   The  FRS3
basis  has  been  calculated on  the  loss  attributable  to
ordinary  shareholders of £457,000 (1998: profit  £337,000).
The  headline  basis has been calculated on £345,000  (1998:
£893,000),   being  the  attributable  (losses)/profits   as
adjusted  for  exceptional  items  of  £758,000,  profit  on
disposal  of  tangible fixed assets of £24,000 and  goodwill
amortisation of £68,000 (1998: exceptional items of £564,000
and  profit on disposal of tangible fixed assets of £8,000);
this  basis has been reported to assist in comparisons  with
earlier periods.

Fully  diluted  earnings per share has  been  calculated  on
(losses)/profits  and  shares  in  issue  which  have   been
adjusted to take account of future issues of ordinary shares
in  respect of the convertible preference shares and options
issued under the Company's share option schemes.


FINANCIAL INFORMATION

The  financial information set out above does not constitute
statutory  accounts  as  defined  in  Section  240  of   the
Companies Act 1985.  The financial information for the fifty
two  weeks  ended 26 September 1999 has been extracted  from
the statutory accounts on which the auditors have issued  an
unqualified audit report and which will be delivered to  the
Registrar of Companies in due course.

The  financial information for the fifty two weeks ended  27
September   1998  has  been  extracted  from  the  statutory
accounts  for that period which have been delivered  to  the
Registrar  of Companies and on which the auditors issued  an
unqualified audit report.


REPORT AND ACCOUNTS

The report and accounts will be posted to shareholders on 17
March 2000.


ANNOUNCEMENT

Copies   of  this  announcement  are  available   from   the
registered  office of the company: 14 Millbrook Road,  Yate,
Bristol BS37 5JW.


Enquiries:

John R Foley
Chief Executive
Jordec Group plc
Tel: 01454 313440

Stephen R Shipley
Finance Director
Jordec Group plc
Tel: 01454 313440

Trevor Bass
Tel: 020 7601 1066