20GL Hsbc Bk. 24

RNS Number:3945M
Retail Corporation PLC
31 October 2001


                         THE RETAIL CORPORATION PLC,
                        AND SUBSIDIARY UNDERTAKINGS

(The entire Ordinary share capital of the Company is held by Sears Limited)
            
                               INTERIM REPORT

           Profit and Loss Account for the six months ended 31 July 2001

                                                   2001          2000
                                                    #m            #m

TURNOVER from discontinued operations                -             -

TRADING(LOSS) from discontinued operations           -           (0.1)

Profit/(loss) on disposal of properties             3.4          (0.2)

Net interest payable                                 -             -

PROFIT/(LOSS) ON ORDINARY ACTIVITIES
BEFORE TAXATION                                     3.4          (0.3)

Taxation                                             -             -

PROFIT/(LOSS) AFTER TAXATION                        3.4          (0.3)

Dividends on preference shares                     (0.3)         (0.3)

Attributable to equity shareholders                 3.1          (0.6)

Dividends on ordinary shares                         -             -

ADDED TO/(DEDUCTED FROM) RESERVES                   3.1          (0.6)


Balance Sheet as at 31 July 2001

                                                    2001       2000
                                                      #m           #m

CURRENT ASSETS
 Debtors                                             224.0       226.2
 Cash                                                  -           0.2
                                                     224.0       226.4
CURRENT LIABILITIES
 Creditors                                          (56.1)       (54.8)

NET CURRENT ASSETS                                  167.9        171.6

PROVISION FOR LIABILITIES AND CHARGES                (0.1)        (3.5)

TOTAL ASSETS                                        167.8        168.1

CAPITAL AND RESERVES
 Called Up Share Capital (including non 
 equity Interests)                                  130.5        130.5
 Profit and Loss account                             37.3         37.6

SHAREHOLDERS FUNDS (including non 
equity Interests)                                   167.8        168.1


NOTES

1. The Interim Report has been drawn up under the same accounting policies as 
those used for the Annual Report and Accounts for 2000/01. The report does not 
constitute statutory accounts and the figures are unaudited.

2. The company has taken advantage of the exemption provided in FRSI and has not
produced a Cash Flow Statement. The company is a wholly owned subsidiary of 
Sears Limited which in turn is a wholly owned subsidiary of January Investments 
Limited whose financial statements include a consolidated Cash Flow Statement 
dealing with the cash flows of the group.

3. A copy of this Interim Report will be posted to the shareholders and copies 
will be available from the Secretary, The Retail Corporation plc, Fourth Floor 
Euston House, 132 Hampstead Road, London NW1 2PS.

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