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MB-CARADON PLC, PARENT OF TEXAS-BASED CLARKE AMERICAN, 3RD LARGEST U.S. CHECK PRINTER, 43 PLANTS IN 27 STATES, REPORTS 1991 FINANCIAL RESULTS

MB-CARADON PLC, PARENT OF TEXAS-BASED CLARKE AMERICAN, 3RD LARGEST U.S. CHECK PRINTER, 43 PLANTS IN 27 STATES, REPORTS 1991 FINANCIAL RESULTS
 WESTPORT, Conn., April 6 /PRNewswire/ -- Preliminary 1991 financial results of MB-Caradon plc, a British company with major U.S. operations headquartered in San Antonio, Texas, were announced here today.
 In the year ended Dec. 31, 1991, called "a year of progress" for MB-Caradon, the building products and check printing company reported that trading profit (see note A) increased to $222.1 million, up 3 percent from $214.7 million in 1990. Revenue was $1.2 billion versus $1.23 billion the previous year, a 2 percent decline.
 Net borrowing was reduced significantly, aided by a successful rights offering, it was reported. As a result, the debt-to-equity ratio was down to 2:25 at Dec. 31, 1991, compared to 2:3 at the end of the prior year.
 MB-Caradon's check printing business, which consists primarily of Clarke American, based in San Antonio, Texas, had operating profits of $56.3 million on revenues of $279.7 million in 1991, it was reported by Peter J. Hewett, chairman of Clarke American and a member of MB-Caradon's main board whose office is in Westport, Conn. James E. Coln is president of Clarke American.
 Shares of MB-Caradon plc are traded on the London and Luxembourg Stock Exchanges. MB-Caradon's share price is included daily in the FT-SE 100 Index (Financial Times-Stock Exchange 100 Index).
 "Benefits of a $300 million acquisition in 1989 have begun to flow through the firm's U.S. check printing and financial forms business, as Clarke American completed the integration of the acquired American Bank Stationery Company," declared Hewett, who is responsible for MB-Caradon's financial printing operations worldwide. This division also includes MB-Clarke, a U.K.-based check printer, which suffered a small loss in 1991.
 Check printing sales volume last year was broadly comparable with 1990, but the business did suffer from some price erosion in a competitive market. Sales in 1991 were down 4 percent from the previous year.
 With approximately 3,000 employees and a network of 43 manufacturing facilities in 27 states that are linked by an advanced computerized information system, Clarke American services financial institutions in all 50 states. (See list of Clarke American manufacturing plants below).
 MB-Caradon check printing business contributed about 34 percent of the company's operating profits in 1991.
 Turning to 1992 results, Hewett said that all of MB-Caradon's managed operations "are benefiting from previous capital expenditures and the company is accelerating investment in them."
 Clarke American has 43 manufacturing plants in the United States, in 27 states.
 (A) -- Trading profit is profit from managed operations plus share of profit from investment in CMB Packaging SA.
 MB-CARADON PLC


(All figures in millions of dollars, except for earnings per share)
 Year ended Dec. 31: 1991 1990
 Revenue $1,202.2 $1,231.0
 Operating profit 165.8 158.4
 Share of profits of CMB Packaging SA 56.3 56.3
 Trading profit 222.1 214.7
 Income before extraordinary items 126.6 122.5
 Extraordinary items -- 13.8
 Net income 126.6 136.3
 Earnings per ordinary share
 - undiluted $.267 $.267
 - diluted $.266 $.266
 NOTE: All revenue and profit figures in this release and the table above have been converted from British pounds sterling to U.S. dollars at the rate of 1 pound equals $1.77. The reference to debt-to-equity ratios above is based on balance sheet figures which were converted from British pounds to U.S. dollars at the rate of 1 pound equals $1.87.
 CLARKE AMERICAN
 Manufacturing Plants
 Check Imprint Plants
 Region I -- Kingston, N.Y.; Philadelphia, Pa.; Pittsburgh, Pa.; Scarborough, Maine; Syracuse, N.Y.; Waterbury, Conn.
 Region II -- Chicago, Ill.; Columbus, Ohio; Grand Rapids, Mich.; Houston, Texas; Indianapolis, Ind.; Louisville, Ky.; Milwaukee, Wis. (starting May 1992); St. Louis, Mo.
 Region III -- Baltimore, Md.; Charlotte, N.C.; Columbia, S.C.; Knoxville, Tenn.; Norfolk, Va.; Roanoke, Va.; Timonium, Md.
 Region IV -- Atlanta, Ga.; Birmingham, Ala.; Ft. Lauderdale, Fla.; Jacksonville, Fla.; Orlando, Fla.; Plant City, Fla.
 Region V -- Baton Rouge, La.; Dallas, Texas; El Paso, Texas; Little Rock, Ark.; San Antonio, Texas; Shreveport, La.
 Region VI -- Denver, Colo.; Fremont, Calif.; Petaluma, Calif.; Phoenix, Ariz.; Portland, Ore.; Seattle, Wash.; Ventura, Calif.
 Base Plants
 Atlanta, Ga.; San Antonio, Texas
 Forms Plants
 Jeffersonville, Ind.
 -0- 4/6/92
 /CONTACT: Peter J. Hewett of MB-Caradon, main board director of MB America Inc., 33 Riverside Ave., Westport, CT 06880, 203-226-8588; or Schorr, Howard and Megill, 212-935-5555, for MB-Caradon/ CO: MB-Caradon plc; Clarke American ST: Connecticut, Texas IN: SU: ERP


GK-TS -- NY012 -- 5345 04/06/92 12:05 EDT
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