Felixstowe Dock - Final Results

RNS No 6500t
FELIXSTOWE DOCK AND RAILWAY COMPANY
18th March 1998

                              1997 Results

The profit before taxation for the year to 31st December 1997 was #28,343,000
(1996: #30,629,000). The profit after taxation was #19,468,000 (1996:
#21,468,000).

The operating profit for the year to 31st December 1997 shows a decrease of 2%
compared to the same period in 1996, reflecting the increasing resources
committed to further improving trade volumes.

The interim dividend on the 6.5% Cumulative Redeemable Preference Shares and the
annual dividend on the 5% Cumulative Redeemable Participating Preference Shares
were paid on 1st July 1997.

An interim dividend of #4.00 per Ordinary Stock Unit was declared and paid on
27th May 1997. The directors do not recommend the declaration of a final
dividend.


Profit and loss account                           Year to             Year to
for the year ended 31st December 1997       31st December       31st December
                                                     1997                1996
                                                    #'000               #'000

Turnover                                          113,622             101,446
Net operating costs                               (79,887)            (66,963)

Operating profit                                   33,735              34,483
Income from fixed asset investments                   558               1,266
Net interest payable less receivable               (5,950)             (5,120)

Profit on ordinary activities before taxation      28,343              30,629
Taxation on profit on ordinary activites           (8,875)             (9,161)

Profit on ordinary activities after taxation       19,468              21,468
Dividends (Note 1)                                (15,999)            (20,016)

Profit/ (loss) for the period retained in this 
account                                             3,469               1,452


Earnings per ordinary share                         499.3p              556.6p


Notes

1.  Dividends paid, proposed and accrued
are as followed:-                                    #'000              #'000

6.5% Cumulative Redeemable Preference Shares        (1,300)            (1,300)
5% Cumulative Redeemable Participating
Preference Shares                                     (731)              (731)
Ordinary Shares                                    (13,968)           (17,985)

                                                   (15,999)           (20,016)

2. This statement has been circularised to the holders of the listed securities.

3. Summary Accounts:

The results for the year ended 31st December 1997 have been extracted from the
company's 1997 statutory accounts upon which the auditors' opinion is
unqualified and does not include a statement under section 237(2) or (3) of the
Companies Act 1985. The statutory accounts will be filed with the Registrar of
Companies in due course.

END

FR GBUBUWBGRGAR

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