Brooke Industrial Holdings PLC
28 February 2000
BROOKE INDUSTRIAL HOLDINGS PLC
AGM STATEMENT
At today's annual general meeting of the Company the chairman reported as
follows:
'In the Annual Report I indicated that the Group planned to realise certain
assets, and I can report that we are close to selling a property in Sheffield
and a leasehold interest in London which, together, will realise over
£400,000.
The rationalisation programme will make an additional freehold property
available for disposal in the near future.
Following an indication of interest in our freehold property in Warrington, we
have appointed a firm of Chartered Surveyors to investigate its potential and
conduct discussions with interested parties.
The acquisition of Somta in South Africa has added a new dimension and
provided new opportunities to the Group particularly as a world-wide supplier of
cutting tools. The company operates off an attractive cost based and the
contribution to last year's and current year's results are in line with
expectations.
Although current exchange rates still make exporting difficult, I can report
that we are identifying improved trading conditions in both home and export
markets.
We are, or course, working hard to convert all opportunities into sales and
profit.'