RNS Number:7374P
Wensum Company PLC
15 September 2003

THE WENSUM COMPANY PLC

INTERIM RESULTS FOR THE 27 WEEKS ENDED 2 AUGUST 2003

CHAIRMAN'S STATEMENT

Results

I am pleased to report that, after a slow Spring, profits before taxation
recovered to #444,000, showing an increase over last year's #432,000.  Sales, in
this twenty seven week period, rose to #7.679 million (2002 : #7.486 million).

Cash balances exceed #1 million compared with #321,000 one year earlier.

The directors recommend an unchanged interim dividend of 2.00p which will be
paid on 16 October 2003 to shareholders on the register on 3 October 2003.

Review of Operations

Wensum Corporate, based in Gatwick, continues to rebuild its business in the
supply of front-of-house designer uniforms.  Steps taken to strengthen the
management team contributed to a strong end to the period and the gaining of an
important new contract for the future.  Prospects have improved significantly
since the Annual General Meeting.

Wensum Clothing, our Norwich based manufacturing business, held its sales
figures but profits fell due to pressure on margins.  The recent loss of a major
contract will now depress sales and profits for the division this year and,
particularly, next.  Management are taking remedial action and the board is
considering ways of improving shareholder value.

Outlook

For the rest of the year we expect that a profit improvement at Corporate will
be offset by a shortfall at Clothing.  The year end operating profits are now
expected to be better than envisaged at the Annual General Meeting and broadly
in line with those of last year.

Stuart Lyons CBE
Chairman
15 September 2003


INTERIM RESULTS

                                                           27 weeks             26 weeks           12  months
                                                              ended                ended                ended
                                                      2 August 2003         27 July 2002      25 January 2003
                                                        (Unaudited)          (Unaudited)            (Audited)
                                                               #000                 #000                 #000

Turnover                                                      7,679                7,486               13,651
                                                           --------             --------             --------
Operating profit                                                434                  401                  727
Net Interest                                                     10                   31                   47

                                                           --------             --------             --------
Profit before taxation                                          444                  432                  774
Tax charge                                                    (133)                (130)                (221)

                                                           --------             --------             --------
Profit after taxation                                           311                  302                  553
Dividends                                                     (156)                (157)                (485)

                                                           --------             --------             --------
Retained profit                                                 155                  145                   68
                                                           --------             --------             --------
Earnings per share      - basic                               3.98p                3.85p                7.05p
                        - diluted                             3.98p                3.85p                7.05p

                                                           --------             --------             --------

1.    The earnings per share were calculated on profits for the period of
#310,953 (2002: #302,142) and on 7,807,834 ordinary shares, being the weighted
average number of shares in issue during the period (2002: 7,853,916).  The
diluted earnings per share is based on the profit for the period of #310,953 and
on 7,809,298 shares.

2.    An interim dividend of 2.00p (2002: 2.00p) will be paid on 16 October 2003
to shareholders on the register on 3 October 2003.

3.  The tax charge for the twenty seven weeks to 2 August 2003 is based on an
estimated rate of 30% (2002: estimated rate 30%).  The tax charge for the year
to 25 January 2003 is the actual charge.


GROUP BALANCE SHEET

                                                        2 August 2003        27 July 2002      25 January 2003
                                                          (Unaudited)         (Unaudited)            (Audited)
                                                                 #000                #000                 #000

Fixed assets                                                    2,000               1,996                2,092
                                                             --------            --------             --------
Current assets
Stocks                                                          2,918               2,354                2,853
Debtors                                                         2,627               4,160                2,434
Cash at bank and in hand                                        1,038                 321                1,257
                                                             --------            --------             --------
                                                                6,583               6,835                6,544

Creditors :  amounts falling
  due within one year                                           2,915               3,305                3,080
                                                             --------            --------             --------
Net current assets                                              3,668               3,530                3,464
                                                             --------            --------             --------
Total assets less current liabilities                           5,668               5,526                5,556

Creditors : amounts falling due after
  more than one year                                              100                   -                  130
                                                             --------            --------             --------
                                                                5,568               5,526                5,426
                                                             --------            --------             --------
Capital and reserves
Called up share capital                                           390                 392                  391
Share premium account                                             171                 200                  180
Capital redemption reserve                                          2                   -                    2
Profit and loss account                                         5,005               4,934                4,853
                                                             --------            --------             --------
                                                                5,568               5,526                5,426
                                                             --------            --------             --------


1.    The above financial information does not constitute Statutory Accounts as
defined in Section 240 of the Companies Act 1985.  The comparative financial
information is based on the Statutory Accounts for the financial year ended 25
January 2003.  Those accounts, upon which the auditors issued an unqualified
opinion, have been delivered to the Registrar of Companies.

2.    The accounts have been prepared on a basis consistent with the full year
accounts to 25 January 2003.  There have been no changes in accounting policy.

3.    The interim results will be sent to shareholders of the company and copies
will be available to the public at the company's registered office,
Northumberland Street, Norwich, Norfolk NR2 4EE.

GROUP CASH FLOW

                                                             27 weeks            26 weeks           12  months
                                                                ended               ended                ended
                                                        2 August 2003        27 July 2002      25 January 2003
                                                          (Unaudited)         (Unaudited)            (Audited)
                                                                 #000                #000                 #000

Net cash inflow/(outflow) from
  operating activities                                            342             (1,341)                  101

Returns on investment and servicing
  of finance:
Interest paid                                                     (6)                   -                    -
Interest received                                                  37                  60                   63
                                                             --------            --------             --------
                                                                   31                  60                   63
                                                             --------            --------             --------
Taxation:
UK corporation tax paid                                         (135)                (70)                (206)

Capital expenditure and financial
  investment:
Payments to acquire intangible fixed
  assets                                                            -                   -                (103)
Payments to acquire tangible fixed assets                        (88)                (43)                (134)
Receipts on disposals of fixed assets                               -                   -                    2
                                                             --------            --------             --------
                                                                 (88)                (43)                (235)
                                                             --------            --------             --------
Equity dividends paid                                           (328)               (330)                (487)



Financing:
Proceeds from issue of shares                                       3                   -                    -
Purchase of shares for cancellation                              (16)                   -                 (24)
Repayment of long term loan                                      (11)                   -                    -
Repayment of capital elements of finance
  leases                                                         (17)                   -                    -
                                                             --------            --------             --------
                                                                 (41)                   -                 (24)
                                                             --------            --------             --------
                                                             --------            --------             --------
Decrease in cash                                                (219)             (1,724)                (788)

                                                             --------            --------             --------


NOTES TO CASH FLOW

                                                             27 weeks            26 weeks           12  months
                                                                ended               ended                ended
                                                        2 August 2003        27 July 2002      25 January 2003
                                                          (Unaudited)         (Unaudited)            (Audited)
                                                                 #000                #000                 #000

Reconciliation of operating profit  to net
  cash inflow/(outflow) from operating
  activities

Operating profit                                                  434                 401                  727

Depreciation                                                      178                 170                  340

Amortisation of intangible asset                                    3                   -                    -

Increase  in stocks                                              (65)                (76)                (575)

Increase  in operating
  debtors and prepayments                                       (214)             (2,278)                (421)

Increase in creditors and accruals                                  6                 442                   32

Profit on disposal of fixed assets                                  -                   -                  (2)
                                                             --------            --------             --------
                                                                  342             (1,341)                  101
                                                             --------            --------             --------




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