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Macfarlane Group PLC (MACF)

Macfarlane Group PLC

Exit from the Brands business
Macfarlane Group PLC
27 October 2004


Macfarlane Group exits from Tom Brands Electrical Services Limited


In the interim statement released on 1 September 2004, the Board of Macfarlane
Group PLC ('Macfarlane Board') indicated it could not continue to sustain the
current level of loss in its subsidiary Tom Brands Electrical Services Limited
('the Brands' business') and was reviewing a range of options to exit from the
Brands' business. Despite considerable effort, discussions with various
stakeholders in Brands, in particular its major property creditor, have not
progressed to a satisfactory conclusion. Therefore the Macfarlane Board has
reluctantly concluded that the Group should withdraw financial support from the
Brands business.


A provisional liquidator has now been appointed to realise the assets of Tom
Brands Electrical Services Ltd. The Macfarlane Board anticipates that an
exceptional cost of £1.4m will be incurred in the second half of 2004 as a
result of Macfarlane Group's exit from the Brands business. As shown in
unaudited management accounts the Brands business incurred losses before
taxation of £1.4m in the period from 1 January to 30 September 2004.


There is no impact on the other businesses in Macfarlane Group PLC, which are
trading in line with expectations and the Group recovery continues to progress
to plan.

                      This information is provided by RNS
            The company news service from the London Stock Exchange
Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

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