GRH G.R.(Hldgs)

RNS Number:2315H
G.R. Holdings PLC
07 February 2003

                              G.R. (HOLDINGS) PLC

                                 Interim Report

                            For the six months ended

                               31st December 2002

The unaudited results of the group for the six months ended 31st December 2002,
together with those of the corresponding six months in 2001 and for the year
ended 30th June 2002.


                                                      Six months         Six months            Year
                                                         Ended              Ended              Ended
                                                          

                                                     31st December      31st December        30th June
                                                          2002               2001               2002

                                                           #                  #                  #
Group turnover                                         2,135,027          2,158,742          4,408,740

Group (loss) / profit before taxation:
Continuing operations                                  (191,764)          (104,937)          (118,268)


(Loss) / profit before taxation                        (191,764)          (104,937)          (118,268)

Taxation for the period -                                      -                  -             23,553
Corporation tax at current rates

(Loss) / profit on ordinary activities                 (191,764)          (104,937)           (94,715)

Amounts absorbed:
i. Dividend on preference shares                          81,381             81,381            162,761
Ii. Dividend on ordinary shares paid and                  39,504             39,504            171,185
proposed
                                                       (312,649)          (225,822)          (428,661)
Earnings per ordinary shares of 5p each
(based on the profit after taxation and
preference dividends)                                     (2.1p)             (1.4p)             (2.0p)


The board has decided to declare an interim dividend of 0.3p, (2002 - 0.3p) for
the year ending 30th June 2003 on the ordinary shares of the company. This will
be paid on 28th March 2003 to those shareholders on the Register of Members on
21st February 2003

The board is advised that as at 30th June 2002, 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



7 February 2003


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

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