March 5, 2002

Share Plc Results

Share plc, parent company of The Share Centre, one of the leading UK retail stockbrokers, has issued its full-year Group results for the year to 31st December 2001 showing a fall in pre-tax profit of 39.1% from £3.041m to £1.851m. The year's pre-tax profit includes a contribution of £300,000 from the sale of 75,000 shares in London Stock Exchange plc.

Commenting on the results, Chairman Sir Martin Jacomb said:
"Last year was difficult for everyone providing retail investment services, and this obviously affected Share plc. This is disappointing since it has led to the first break in our profits growth after 5 years continuous improvement. However Share plc has done well compared with its competitors, largely due to its strategy of building long-term investment services of a fee-earning nature and we note encouraging signs of confidence returning to the market for the year ahead."

Share plc sees improving prospects for 2002 with a number of new services building in popularity: particularly Share Incentive Plans, the new Government employee share ownership scheme for which The Share Centre provides an administration service, and ShareMark the alternative share-trading market for SMEs, on which the shares of Share plc itself along with other companies can be traded.

The last dealing price for Share plc was 25p, valuing the Group at £38.6m. Shareholders who are also account customers of The Share Centre receive a shareholder benefit of dealing commission credit which can be worth up to 12p per share per annum, and there is a dividend rate proposed for larger shareholders of 0.12p per share which will remain constant.

The Group's activities are based in Aylesbury, Buckinghamshire, employing 106 staff. Its services include internet share-dealing, investment advice, self-select ISAs and PEPs, and a wide-range of corporate share services. Another of Share plc's subsidiaries, The Shareholder Ltd., publishes a quarterly investment magazine for The Share Centre's account customers.

Full details of Share plc's background and activities can be found on this website, www.share.com, and personal investors can also receive details through The Share Centre's freephone, 0800-800008.




CONSOLIDATED PROFIT AND LOSS ACCOUNT

Year Ended 30 December 2001

  2001
£
2000
£
 
TURNOVER 7,928,878 8,405,166
 
Administrative expenses (6,551,240) (6,455,859)
Profit sharing bonus (268,370) (397,837)
  __________ __________
 
OPERATING (LOSS)/PROFIT 1,109,268 1,551,470
Profit on sale of fixed asset investments 300,000 -
Dividends receivable 47,858 2,858
Interest receivable 408,112 2,300,383
Interest payable and similar charges (14,735) (813,691)
 
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION 1,850,503 3,041,020
Tax charge on profit on ordinary activities (588,918) (930,733)
  __________ __________
 
PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION 1,261,585 2,110,287
Equity dividend payable (171,041) (179,736)
  __________ __________
RETAINED PROFIT FOR THE YEAR 1,090,544 1,930,551
  ======== ========
Earnings per share 0.8p 1.4p
  ======== ========
Diluted earnings per share 0.8p 1.4p
  ======== ========

All results are in respect of continuing operations.

There are no recognised gains or losses for the current and prior years other than as stated above. Accordingly no statement of total recognised gains and losses is given.



CONSOLIDATED BALANCE SHEET

31 December 2001

  2001
£
2000
Restated
£
 
FIXED ASSETS 807,150 521,132
Tangible assets 33,021 33,000
Intangible assets 140,413 114,291
  __________ __________
  980,584 668,423
  __________ __________
 
CURRENT ASSETS    
Stocks 1,097 869
Debtors 2,337,297 7,710,954
Cash at bank and in hand 5,195,632 5,555,832
  __________ __________
  7,534,026 13,267,655
 
CREDITORS: amounts falling due within one year (3,065,708) (9,588,584)
  __________ __________
NET CURRENT ASSETS 4,468,318 3,679,071
  __________ __________
TOTAL ASSETS LESS CURRENT LIABILITIES 5,448,902 4,347,494
  ======== ========
 
CAPITAL AND RESERVES    
Called up share capital 771,507 748,889
Share premium account - 7,578
Profit and loss account 4,677,395 3,591,017
  __________ __________
EQUITY SHAREHOLDERS' FUNDS 5,448,902 4,347,494




NOTES TO ANNOUNCEMENT

1. RESTATEMENT OF PRIOR YEAR BALANCE SHEET

At 31 December 2001 segregated deposit amounts held by the group on behalf of clients in accordance with the client money rules of the Financial Services Authority mounted to £32,019,979 (2000 - £41,183,843). The group has no beneficial interest in these deposits and accordingly they are not included in the balance sheet. This represents a change in presentation to previous years when the segregated deposits were included within the consolidated balance sheet under the headings of cash at bank and in hand and creditors.



2. STATUTORY ACCOUNTS

The financial information set out in this announcement does not constitute the Company's statutory accounts for the years ended 31 December 2001 or 2000. The financial information for the year ended 31 December 2000 is derived from the statutory accounts for that year which have been delivered to the Registrar of Companies. The auditors reported on those accounts; their report was unqualified and did not contain a statement under s237(2) or (3) Companies Act 1985. The statutory accounts for the year ended 31 December 2001 have been finalised on the basis of the financial information presented by the directors in this announcement and will be delivered to the Registrar of Companies following the Company's annual general meeting.

Copies of the Accounts are to be sent to shareholders and will be available to the public at the registered office of Share plc, Oxford House, Oxford Road Aylesbury, Bucks HP21 8SZ.



This announcement has been issued by Share plc and approved by The Share Centre. The investments and services referred to in this document may not be suitable for all investors and if in doubt independent advice should be sought. The shares in Share plc are not traded on the London Stock Exchange or any other Recognised Investment Exchange. It may be difficult for investors to sell the shares and obtain reliable information about their value or the extent of the risks to which the share price is exposed. The share price may be subject to sudden and large falls in value, given the restricted marketability of the shares. Share prices, values and income can go down as well as up and investors may get back less then their initial investment. Past performance is also no guarantee of future performance.