YOR Yorkshire Grp.

RNS Number:9968X
Yorkshire Group PLC
26 April 2004


26 April 2004

Yorkshire Group PLC (the "Company")


The Company announces that it will not be in a position to finalise its results
for the year ended 31 December 2003 by 29 April 2004. This has resulted in the
suspension by the London Stock Exchange of the Company's shares in accordance
with the Listing Rules of the UK Listing Authority.

On 3 February 2004, the Company sent a circular to shareholders (the "Circular")
seeking approval for the sale of the Americas Dye Business to Dystar. The sale
was approved by shareholders on 19 February 2004. The circular set out the
revised banking facilities which had been agreed with the Company's lenders and
explained that the Group did not have sufficient working capital for its present
requirements.

The Company is pursuing discussions with potential purchasers of property
assets, having received a number of offers and is having related discussions
with its lenders to strengthen the financial position of the Group. Progress has
been made in these discussions but no definitive results have yet emerged. As a
result of these discussions, and other delays to the process of finalising the
Company's accounts for the year ended 31 December 2003, the Company will not be
able to publish the results by 29 April 2004. The Board is seeking to be in a
position to publish the results by the end of May but the timing will depend on
the outcome of the aforementioned discussions.

While the turnover of the Group has been in line with the expectations of the
Board when the Circular was published, trading conditions remain difficult,
especially in the Asia Pacific region. Cash constraints are limiting the ability
of the Group to trade as efficiently as the Board had intended. The Board
anticipates that satisfactory resolution of the discussions with the Group's
lenders, would alleviate these cash constraints, and continues to believe that
the Group is capable of returning to profitability at the operating level in the
medium term.


Contact
Andrew Dick                                       TEL: 0113 244 3111
Yorkshire Group PLC



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

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