GRH G.R.(Hldgs)

RNS Number:6116T
G.R. Holdings PLC
26 March 2002

                              G.R. (HOLDINGS) PLC

                                 Interim Report

                            For the six months ended

                               31st December 2001

The unaudited results of the group for the six months ended 31st December 2001,
together with those of the corresponding six months in 2000 and for the year
ended 30th June 2001.

                                                  Six months         Six months            Year
                                                      Ended            Ended              Ended
                                                31st December      31st December        30th June
                                                     2001               2000               2001

                                                      £                  £                  £
Group turnover                                         2,158,742          2,439,502          4,824,755

Group (loss) / profit before taxation:

Continuing operations                                  (104,937)             81,484           (82,133)

Costs relating to UK property interests               -                    (18,995)         -

Exceptional profit                                                                           2,381,053

(Loss) / profit before taxation                        (104,937)             62,489          2,298,920

Taxation for the period -                             -                     (4,237)           (48,168)

Corporation tax at current rates

(Loss) / profit on ordinary activities                 (104,937)             58,162          2,250,751

Amounts absorbed:

i. Dividend on preference shares                          81,381             81,381            162,761

ii. Dividend on ordinary shares paid and                  39,504             52,672            184,353
proposed

                                                         120,885            134,053            215,433

Earnings per ordinary shares of 5p each
(based on the profit after taxation and
preference dividends)                                     (1.4p)            (0.2p)              15.9p


The board has decided to declare an interim dividend of 0.3p, (2000 - 0.4p) for
the year ending 30th June 2002 on the ordinary shares of the company. This will
be paid on 21st May 2002 to those shareholders on the Register of Members on
12th April 2002.

The board is advised that as at 30th June 2001, the company was a close company
within the meaning of the Income and Corporation Taxes Act 1988.

During the period the group was engaged in (a) the operation of Grayshott Hall
Health Fitness Retreat, (b) transactions involving property (c) the manufacture
and sale of Morlands footwear, sheepskin car rugs and other products and (d)
investment.

6 Sloane Square
London SW1W 8EE

26 March 2002


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

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