NTY Network Tech.

RNS Number:8304R
Network Technology PLC
29 September 2000


   Preliminary Results for the year ended 31st March 2000


                    Chairman's Statement

Results

I can report further improvements in the recovery of all
significant parts of our group companies.  The unaudited net
loss for the full year ended 31st March 2000 was #1.53
million.  The majority of this loss resulted from trading in
the first six months of the period.  The second half has
benefited from the effects of the restructuring resulting in
a breakeven situation for the period, so not adding any
further significant losses to the full period. This is in
line with the Boards previous expectations. In the period to
30th June 2000, the group achieved a small profit which
covered the arrangement with its creditors in the CVAs for
H. Bollmann Manufacturers Limited, N&R Circuits (UK) Limited
and Ringdale UK Limited.

Due to the change in the year end, the comparative period
for these preliminary results is for the six months ended
31st March 1999.

Dividend

In  view  of the group's performance during the period,  the
directors do not recommend the payment of a final dividend.

Review

The streamlining of the group continued and the current
employee count is 122.  We have achieved a successful
restructuring of the group and its individual companies in
Europe and the US operations. During the period, the Board
decided to discontinue Bits Per Second Limited and
subsequently H. Bollmann Manufacturers Limited acquired the
rights to the Graphics Server Engine from the Receiver for
Bits Per Second.

H.  Bollmann Manufacturers Limited continues to develop  and
produce  leading  edge technology and has a  number  of  new
products, which will be suitable to be marketed through  its
existing  channels  and has also developed  new  technology,
which will be of interest to its Japanese customers.

A new version of the Graphics Server program based on H.
Bollmann Manufacturers' software technology has since been
released and was well received by the market. This product
still has a significant life left due to the fact that it is
required for charting in Web Servers, still a rapidly
growing market.

For the CD-R / DVD-R Near-Line Storage Server we are
registering increased interest from our OEM customers as
well as from our distribution partners for our Ringdale
brand.  With the latest release of DVD-R technology and a
team-up with Mitsui Media for the promotion of the product,
we have high expectations for the future.

As a result of the investment in new manufacturing
technology at N&R Circuits (UK) Limited, this company has
achieved its aim to reduce the dependency on group business
significantly, now receiving 45% of its turnover from
contract manufacturing business outside the group.

All US operations have now been concentrated in our
Georgetown facility adding significant efficiencies, which
resulted in consistent profitability.  JRL Systems Inc. has
now completed the Magnum Controller for Wide Format Printing
Systems, which performs as we hoped and significant OEM
business could result from this development.  The product is
in out in the market and sales of Ringdale wide format
plotters have recently increased as a result of that
development.

Nextus Inc. has developed a number of Access Control devices
and lock mechanisms for the US market, making it no longer
just a contract manufacturer but also a product company with
its own ability to grow aggressively.

We  will  continue  with  our  focus  on  bringing  the  new
technologies  to  market, which, the  Board  believes,  will
yield the biggest rewards in the current period.

Due  to  the  difficult  trading conditions  the  Group  has
experienced recently, some of the Group's stock  lines  have
become slow moving.  The Directors have reviewed the Group's
stocks  and remain confident that they will be sold  for  at
least  their  current book value, accordingly, no  provision
has  been  made against their carrying value.   However,  in
view  of  the current state of the market there  must  be  a
level  of  uncertainty surrounding our  ability  to  realize
certain  items of stock at greater or equal to  book  value.
Our  auditors will refer to this in their audit report as  a
fundamental  uncertainty although their report will  not  be
qualified in this respect.

As   a   result   of  the  Creditors  Voluntary  Arrangement
previously referred to in our interim report, the group made
exceptional  gains  and  losses details  of  which  will  be
disclosed in the Annual Report.

Network Technology Plc
Preliminary figures for the year ended 31 March 2000


                                           Year to     6 Months to
                                           31.3.00         31.3.99
                                             #'000           #'000
                                       (unaudited)       (audited)
                                                                  
Net turnover                                 9,488           4,970
                                                                  
Loss before taxation                        -1,531          -2,947
                                                                  
Taxation charge/(credit)                        -2             470
                                                                  
Loss after taxation                                               
  Attributable to ordinary shareholders     -1,533          -2,477
                                                                  
Rate of dividend (pence per share)               0               0
                                                                  
Amount of dividend                               0               0
                                                                  
Loss per share (pence per share)           (4.24p)         (6.85p)

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