RNS Number:3049U
Geest PLC
16 January 2004


                          PRE-CLOSE PERIOD UPDATE FOR

                         12 MONTHS ENDED 3 JANUARY 2004


16 January 2004


Geest PLC (Geest), the leading fresh prepared foods and produce company, is
providing the following update for the year ended 3 January 2004, prior to
entering its close period, ahead of its preliminary results announcement on 18
March and is pleased to confirm results in line with its expectations.

Group sales are anticipated to show growth of about 12% and UK sales of fresh
prepared foods of about 6%.  This rate of growth reflects some business losses
earlier in the year - since offset by other business gains - and our commitment
to pursue business selectively in the current trading environment.  Continental
European sales are expected to have grown by about 58%, helped by the successful
acquisition of Crudi in France in April 2003.  The remaining business, whole
head produce, will see sales growth of around 20% with continued volume growth
and some higher prices.

Trading conditions throughout 2003 were challenging with increasing input prices
and customer pressure for better value.  However, we are achieving price
increases and, with total operating profit in line with our expectations, we
will again demonstrate strong cash flow generation.

Looking forward, we have programmes in place which will further improve our
levels of productivity and the cost efficiency of our supply chain.  The success
of these initiatives is essential if we are to create value for our customers
and to provide a strong base for improvements in profit.

Earnings will be enhanced by a one-off tax benefit resulting in an effective tax
rate of 16% for 2003.   We expect Geest's tax rate in 2004 to return to a more
normal 25%.

Our pension assets and liabilities are broadly in balance.  We are considering
the adoption of FRS17 in 2004 as a basis for calculating pension costs, earlier
than required, to help improve transparency and consistency.  We estimate that
profit before tax in 2003, were it calculated under FRS17, would be
approximately #4m less than under SSAP24.   Any such move would have no bearing
on the Company's cash flow or dividend policy.



                                     -ENDS-


Enquiries:


Mark Pullen, Group Finance Director
Paula Cooper, Group Communications Manager
Geest PLC                                                  Tel: 01775 761111

Tim Spratt/Michelle Morton
Financial Dynamics                                         Tel: 0207 831 3113


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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