RNS Number:8958M
Loades PLC
27 June 2003


27 June 2003


LOADES PLC


Interim Results


The directors have approved the following statement from the unaudited accounts
for the 6 months ending 31 March 2003.

                                                31 March              31 March
                                                    2003                  2002
                                                    #000                  #000

Sales                                              3,461                 5,510

Trading Loss                                        (564)               (1,436)

Tax                                                    0                   431

Loss after tax                                      (564)               (1,005)

Earnings per share                                (28.20)p              (50.25)p


The earnings per share is calculated on 2,000,000 issued ordinary shares.


No provision for tax is considered necessary for the six month period ended 31
March 2003.


The directors are not declaring an interim dividend (2002: nil).


Review


The organised withdrawal from the automotive and aerospace stamping and
fabrication industry is now complete and the very last pieces of plant and
equipment are leaving the sites of Abbey Panels and Loades Albany. Your
Directors can now be completely focused on the future and new horizons.


Like many manufacturing companies in the aerospace industry, Loades Dynamics,
our machining division, is experiencing a relatively quiet time, however the
Directors and Management will continue to direct their energies to the business,
and to pursue openings and opportunities as they occur, thereby being ready for
an upturn as it arises.


Some considerable interest has and is being shown in the renting of blocks of
the Abbey Panels site. This up till now has not been pursued too vigorously
until the site is completely cleared. Our sites in Coventry and Walsall are
located in prime positions and we hope to see movement in rentals during the
next few months.


A.E. Loades

Chairman


Copies of this report are being sent to Shareholders. Further copies may be
obtained from the Company's registered office at Bodmin Road, Coventry CV2 5DB


END







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