RNS Number:3829N
Delta PLC
10 July 2003

                                 Trading Update

Delta is issuing its regular trading update preceding its interim announcement
in September and reports that at the half year overall trading for the Group has
been in line with the Board's expectations.

In Specialty Chemicals, our Electrolytic Manganese Dioxide business has
increased sales volumes offsetting lower product prices. During the first half
of the year, Galvanizing has improved overall and Webforge, which was acquired
in February this year, is performing in line with our expectations. Our
Industrial Supplies businesses in Australia and South Africa have continued to
perform steadily during the first half of the year.

As previously described at the Annual General Meeting in May, the weaker US$ and
the stronger South African Rand have had an adverse impact on the trading
performance of our Manganese Metal business (MMC), with losses resulting in the
first half, as its costs are denominated in Rand and its sales in US$. Currency
similarly affects the underlying trading of our EMD business although this has
been partially offset by cover taken on forward sales. The negative effect on
Specialty Chemicals however has been largely offset by the benefits on
translation into Sterling of our Industrial Supplies earnings.

Given the reduced size and geographical spread of the Group, the elimination of
net debt from the Group balance sheet and the cost of undertaking hedging
transactions, Delta will cease to hedge, during the second half of the year, the
net asset value of overseas balance sheets denominated in foreign currencies.
Cash balances will therefore not be impacted in the future by these
transactions. Other elements of Group Treasury Policy including transactional
and interest rate hedging will remain unchanged.

Following the disposal of the Electrical Division, Delta will not benefit to the
same extent from improved working capital performance at period ends. Delta will
continue to focus on reducing costs to reflect the now smaller Group. Recently,
reductions in the Head Office and administrative functions have been completed
and an operating exceptional charge of #1.3 million relating to this will be
taken in the first half.

Date: 10 July 2003

Contact:

Delta plc
Mark Robson, Finance Director
Tel: 020 7836 3535

IRfocus (Investors & Analysts)
Chris Birks
Tel: 020 7861 3893

Brunswick (For Press Enquiries)
Andrew Fenwick
Tel: 020 7404 5959


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