RNS Number:2358M
Huntleigh Technology PLC
12 June 2003



Embargoed until 10.00 a.m. on 12 June 2003

12 June 2003

Huntleigh Technology PLC ("Huntleigh" or the "Group")


Chairman's AGM Statement

At the Annual General Meeting of Huntleigh Technology PLC held today, Thursday
12 June 2003, Julian Schild the Chairman of the Company said:

"The first half of the year has been overshadowed by the sad death of the
co-founder of Huntleigh, Rolf Schild, whose energy, drive and wisdom contributed
so much to make the Company what it is today. We shall be organising a memorial
service towards the end of this year to celebrate his life and the contribution
he has made to the medical industry. He was delighted to learn, a few days
before he died, that the Diagnostics Division had been granted the Queen' s
Award for Innovation for the development of the Assist range of hand-held
monitors.

In the Annual Report sent to you in April, we stated that the United Kingdom
market has not experienced its traditional increase in demand during the first
quarter - coinciding with the end of the Government's financial year - and that
sales have been uninspiring. Whilst some pockets of "year end" money did appear
during March, this trend has continued into the second quarter. Our sales force
has continued to be active and there has been a great deal of interest in the
Company's products. However, there is an apparent lack of funding, despite well
publicised injections of cash into the NHS.

Last week the Audit Commission issued a report into how effectively Trusts are
meeting the targets set out in the NHS plan published in July 2000. Amongst
other issues, the Commission found that more than half of the Trusts in England
had been diverting money away from future projects - such as buying new medical
equipment - in favour of quick fixes to keep services going and waiting lists
down. Whilst it is reassuring that our experiences have been confirmed
independently, it is clear that there is an increasing amount of pent-up demand
for capital items.

Whilst the backdrop in the UK has been poor, Huntleigh's rental turnover has
continued to grow. Indeed, during the first half we have been awarded tenders to
the total value of #12 million spread over a period of 5 to 15 years, covering
the rental of hospital beds and specialised mattresses. This will of course help
to underpin the Group's future growth.

Export markets have been buffeted by a host of unusual events ranging from the
Iraqi war, which affected our Middle East sales, to SARS in the Far East,
impacting upon our sales in markets such as Hong Kong.

As a result of these issues, the first half of 2003 is likely to show little, if
any, increase in sales over the corresponding period last year.

Traditionally, Huntleigh has always enjoyed a much stronger first half than the
second half of the year. However, the lack of strong expenditure in the UK
market during the first quarter of 2003 leads us to expect a much more even
distribution of sales and profits for the remainder of the year. It is also
encouraging to see that activity is beginning to increase again in the Middle
East. At present, we expect profitability for the year as a whole to be
satisfactory.

Whilst Huntleigh is well known for its hospital products, the Group is paying
increasing attention to the growing community sector. The NAIDEX exhibition held
in May, which focuses on aids for daily living, saw the launch of several new
products including the unique portable gantry type hoist which will give much
greater independence to disabled people."

Finally, I am pleased to announce that at a Board meeting to be held after this
AGM, we shall be appointing Dominic Hollamby to the Board as a non-executive
director. Dominic is Managing Director of N.M. Rothschild's global healthcare
activities. He will bring a wealth of industry experience to the Board and we
look forward to benefiting from his wise counsel."





Enquiries



Julian Schild                             +44 (0)1582 413104

Chairman

Huntleigh Technology plc





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