Price 0.70-0.80 pence : 30.11.04


RNS Number:8345F
Reflec PLC
30 November 2004


Reflec plc
("Reflec" or "the Company")
Results for the 6 months ended 31 August 2004

Chairman's Interim Statement

In the first six months of the year, the company generated revenues of #1.313m,
compared to #1.469m for the first half of last year. This resulted in a loss of
#286,000 compared to a loss of #175,000 for the same period last year. At the
half year the Company's net current assets were #1.699m, which included #438,000
of cash.

No dividend is payable.

Reflectives
Reflec USA has a cyclical cash flow pattern. Summer time is the peak period for
illumiNITETM orders which are then fulfilled from September onwards. Its
turnover for the first half of the year was slightly lower compared to the same
period last year. In the first two months of the second half, Reflec USA made
healthy profits with the order book indicating that this trend is likely to
continue.

Evolution
Evolution had a solid first half and continues to service its customers
effectively and profitably. Evolution made a strong start to the second half and
good results for the year are anticipated.

Reflecmedia
Disappointingly, this division made a loss. However the results of attending the
world's two biggest broadcasting conventions and the effects of current
marketing activities are still coming through. Reflecmedia has increased its
sales force. The UK sales team has been strengthened, whilst additional staff in
the USA are working with the US's largest distributor of broadcast production
equipment, ensuring that its Chromatte product range is being constantly
promoted and sold. In Singapore, Reflecmedia has appointed a sales manager to
sell into the important Far East TV market.

During the first half Reflecmedia launched "Mattenee", a chroma key software
plug-in for non-linear editing and compositing applications, including Adobe
Premiere and Apple Final Cut Pro. Mattenee complements the use of ChromatteTM,
the Company's blue screen material. Other new product launches included an
update to our LiteRing, a new LiteRing controller and professional Product Carry
Cases. Initial indications are that these products have been well received in
the market place. Finally, customer service has been enhanced by increased
inventory levels. Overall, Reflecmedia is expected to be profitable in the
second half.

Outlook
Since the AGM actions have been taken to eliminate losses and achieve
profitability in the second half of this financial year, your Board expects
continued good results from Reflectives and Evolution and action has been taken
with Reflecmedia in order to achieve profitability. We therefore expect the
second half to be profitable, together with a stronger cash position.

The Board is now focused on growth, both organically and by acquisition. In
particular, there are expansion opportunities for Evolution which are being
actively pursued. Furthermore, and of importance for Reflectives, there is a
major opportunity to form a manufacturing and distribution partnership with a
Chinese company. This will materially improve our competitiveness and open up
new markets. The principal terms have been agreed and details of the heads of
agreement will be announced shortly. Your Board sees this as an exciting
development.

Board Appointments
At the AGM your Board took note of shareholder concerns on corporate governance.
As a result the Board has been strengthened by the appointment of two
Non-executive Directors, John Kinder and Ian Proud, with effect from 30 November
2004.

John Kinder, FCA, started his career as a merchant banker and then moved into
managing industrial companies. Recently he was a non-executive director with
Tudor Webasto as well as advising businesses in managing strategic turnarounds.
He will bring to the Board some very valuable analytical skills, especially with
regard to the Company's financial performance. Ian Proud works in a City
consultancy and will bring to the Board marketing and business development
skills and experience gained at senior executive level in three blue chip
companies.

Summary
Since the AGM the Company has developed firm foundations from which it can move
into profitability. The second half will be stronger and the cash position will
show a significant improvement helped by the seasonal reduction of Reflectives'
inventory. With these foundations in place, I look forward to reporting further
positive developments with the preliminary results.

Tim Hearley
Chairman

RNS Number:6435R
Reflec PLC
04 November 2003



Reflec plc

("Reflec" or "the Company")

Issue of new equity

The Company is pleased to announce that it has placed 133,333,336 new ordinary
shares at 0.75p per share raising funds of #1,000,000 before expenses. The funds
raised will be used to develop the Company's existing business and provide
additional working capital for the Company.

Application has today been made for the admission of 133,333,336 new ordinary
shares to trading on the AIM market.

The new ordinary shares will rank pari passu with the existing ordinary shares
of the Company and dealings in the new ordinary shars are expected to commence
on 17 November 2003.

Commenting on the success of the fund raising, Peter Smith, Chief Executive of
Reflec plc, said, " The Company has been focused on its financial turn around
and at the same time developing a strategy for long term growth. Significant
progress has been made on achieving these objectives and with these new funds we
are now well positioned to develop the Company further and accelerate our plans
for growth."

Reflec plc, based in Winsford, is currently the centre for powder processing,
micro-grinding, research and development and the production of reflective
systems as well as the sales of these products and services across Europe. Its
blue screen materials are already in use by BBC TV, CNN, Disney and Time Warner.
Reflec (USA) comprises the assets of Reflective Technologies Incorporated
acquired on 1st March 2001. It owns valuable IPR, patents and trademarks for
reflective systems sold worldwide.




This information is provided by RNS
The company news service from the London Stock Exchange

More chance of a brakdown!

LONDON (AFX) - Reflec PLC said its first-half pretax losses narrowed and
that it expects to make a "small profit" in the second half, taking its full
year loss to an estimated 130,000 stg.
Reflec also said it placed 133.33 mln shares at 0.75 pence each, raising 1
mln stg before expenses. The funds will be used to develop existing business and
provide additional working capital.
"The Company has been focused on its financial turn around and at the same
time developing a strategy for long term growth," said chief executive Peter
Smith, adding that "with these new funds we are now well positioned to develop
the company further and accelerate our plans for growth." Pretax losses for the
six months to Aug 31 narrowed to 175,000 stg, ahead of its budget, from 1.12 mln
stg, while sales dipped to 1.47 mln stg from 1.50 mln in the year-earlier
period.
Sales at ReflecMedia exceeding those achieved in the whole of last year, the
company said, adding that it expects sales to continue to grow in the second
half with the business generating a small contribution to the group in its first
full year of operations.
While despite some seasonality in sales at Reflec Evolution, the company
anticipates a similar level of performance in the second half.
The financial performance at Reflec Reflectives has greatly improved helped
by cost cutting, the company said. However, further improvements are required to
achieve the group's minimum financial targets, it added.
The company is also continuing to discuss possibilities with potential
partners for Reflec Reflectives ranging from a strategic investment to buy a
minority stake to the outright sale of the business.
"Operating costs have been brought in line with current levels of revenue as
the group strides to grow from a new profitable base."
"Emphasis is being given to accelerate the growth of the ReflecMedia
business within the financial constraints of the group," it said.

I am in with approximately 121,000 shares at 1.25 pence. There has been lots and lots of buying in these today at higher levels and feel that these could reach to 2 pence as early as tomorrow.

Longer term target of 5 pence should be achievable.

offer price tick up to 1.3 pence

210,000 buy at 1.28 pence

offer tick up to 1.35 pence

bid price up to 1.15

price 1.15-1.35 now

This is the most promising sentence I read in the report:

"The company is also continuing to discuss possibilities with potential
partners for Reflec Reflectives ranging from a strategic investment to buy a
minority stake to the outright sale of the business."

Just topped up with approx' 40,000 shares.

price up 2% now

1.15-1.35 pence

Buying volume picking up, real spread 1.2-1.3 pence

200,000 buy at 1.29 pence

Day traders sold out, excellent price to get in now, run up to 2 pence possible next week.

Just picked up some at 1.14 pence.

Sue, is there only you on this one or are you employed by City Equities, if so is this another one we are likely to see disappear off the screens.

Hi,

No not at all, was a bit mystified with the way the price has dropped back. It could be that the price will stay at the 1 pence level until the 17th of November when the new shares come into the market.

i also checked for whole morning but it start dropping in late morning I wonder why

bought this one some time ago when hoped/thought was about to break 2p level
clearly it didnt cannot understand why stalled last week on what is clearly two goot pieces of news or is it the poor sentiment of never delivering thats holding it back ?

Ref on the move..