GRH G.R.(Hldgs)

RNS Number:4115B
G.R. Holdings PLC
30 March 2001

                           G.R. (HOLDINGS) PLC
                              Interim Report
                        For the six months ended
                            31st December 2000


The unaudited results of the group for the six months ended 31st December
2000, together with those of the corresponding six months in 1999 and for the
year ended 30th June 2000.
                    

                                                                              
                                       Six months      Six months         Year
                                            Ended           Ended        Ended
                                    31st December   31st December    30th June
                                             2000            1999         2000
                                                #               #            #

  Group turnover                       2,439,502       2,349,504    4,749,464 

  Group profit before taxation:                                               
  Continuing operations                    81,484          32,821       47,603

  Costs relating to UK property          (18,995)        (30,772)     (10,450)
  interests                                                                   

  Profit before taxation                  62,489           2,099       37,153 

  Taxation for the period -              ( 4,327)         (7,000)     (43,558)
  Corporation tax at current                                                  
  rates                                                                       

  ACT written-off                                        (42,000)             

  Profit / (loss) on ordinary              58,162        (46,901)      (6,405)
  activities                                                                  

  Amounts absorbed:                                                           
  i. Dividend on preference                81,381          81,381      162,761
  shares                                                                      

  ii. Dividend on ordinary                 52,672          52,672       52,672
  shares paid and proposed                                                    
                                          134,053                              
                                                          134,053      215,433  
           
  Earnings per ordinary shares               0.6p          (0.9p)      (12.8p)
  of 5p each (based on the                                                    
  profit after taxation and                                                   
  preference dividends)                                                       

The board has decided to declare an interim dividend of 0.4p, (1999 - 0.4p)
for the year ending 30th June 2001 on the ordinary shares of the company.
This will be paid on 17th May 2001 to those shareholders on the Register of
Members on 17th April 2001.

The board is advised that as at 30th June 2000, 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.

We are pleased to announce that A. Baily and Company Limited and Soundkirk
Limited (both 100% subsidiaries of GR (Holdings) plc) have today sold their
property interests at Glastonbury, resulting in the net receipt by the Group
of approximately #3.2 million in cash. The proceeds from the sale will be
used to increase cash reserves.

6 Sloane Square
London SW1W 8EE
30 March 2001
 

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