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BURTON GROUP REPORTS PRELIMINARY RESULTS FOR YEAR

          BURTON GROUP REPORTS PRELIMINARY RESULTS FOR YEAR
    LONDON, Nov. 14 /PRNewswire/ -- The Burton Group plc today reported


the following highlights of its preliminary results for the financial year ended Aug. 31, 1991:
    Results and dividend in line with forecast at time of rights issue
    -- Profit before exceptional costs 11.2 million pounds sterling (1990: 146.1 million pounds)
    -- Exceptional costs of 24.6 million pounds (1990: 13.0 million pounds)
    -- Extraordinary items 152.0 million pounds (1990: 83.9 million pounds)
    -- Recommended final dividend of 1p per share (1990: 2.6p per share), making total dividends of 2.7p per share (1990: 5.2p per share)
    Successful rights issue announced in June which raised 161 million pounds
    Debt reduced by 155 million pounds during the year
    Gearing substantially reduced
    -- Reported net debt 43 percent (1990: 62 percent)
    -- Excluding HSPI and property lease obligations 24 percent (1990: 44 percent)
    Post year end, completion of sale of Harvey Nichols on Oct. 3, 1991, for approximately 60 million pounds
    Progress on property development portfolio
    -- U.K. shopping centers letting well; those opened now 69 percent let
    -- Approximately 50 percent of U.S. development property disposed of
    -0-                       11/14/91
    /CONTACT:  Richard North, group finance director, 071-927-0561, or Eddie Gallacher, investor relations director, 071-927-0174, both of the Burton Group in London; or Fern Lazar or Debra Wasser of Dewe Rogerson in New York, 212-688-6840, for the Burton Group/
    /FIRST AND FINAL ADD TO FOLLOW/ CO:  The Burton Group plc ST: IN: SU:  ERN GK-TS -- NY016 -- 4255 11/14/91 08:41 EST
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Publication:PR Newswire
Date:Nov 14, 1991
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