Marchpole is one of those stocks which have had a really bad time. Boardroom battles, losses, price collapse, profit warnings up the ying yang.

Now all of those things seem to be sorted out, new management are getting to grips, new contracts and the price is on the up. So much so that Monday ought to see a 50/200 day MA golden cross.

DYOR of course, but I think I will be putting a few of these away at the open.

Socco

Nowt but Tumbleweed

Good God the Circus has come to town.

Moving along quite nicely. A helpfule axe between bid/offer sizes, also trading in the upper part of the marked spead.

600,000+ buys, v 33,000+ sells so far.

Encouraging noises in the latest RNS (qv) but the prospect of a share buy back is juicy. Note that two directors hold a large chunk of the stock.

From " the other side........"

Marchpole, may be worth revisiting again. Once a member of our 100% growth club, which later fell on the sword when the company became embroiled in a legal spat, prompted investors to run for the cliff...and jump, as Lemmings do. It appears investors are returning, and Marchpole is back in favour after encouraging noises coming from the company. The designer and manufacturer of clothing and accessories for major brands expressed confidence about meeting market expectations of a pretax profit of 5m in the current financial year.

The company is to propose a share buyback as it believe its current share price does not adequately 'reflect the strong future prospects of the business'.

The company also announced the completion of the acquisition of Moda America LLC, the US licensee for Emanuel Ungaro.

Interesting to see that Michael Morris has just bought (28/4) a further 170k of shares at 21p bringing his holding to 19% ...... IMO, one of the best bits of news of late was the (manipulated?) removal of Greg Tuffnell who, IMO, did not warrant his apparent and alleged high reputation in the fashion industry ...... MM, and I am sure he has plenty of faults, has always been the true driving force behind MPH, and it can do nothing but good that he has taken back the reins.

Do not expect sp to race away, but there could be some good growth and prospects here, contrary to many others in the industry.

SP up 10% today on trades of 2.3m against an average of only 450k ..... no rns; no obvious news of any kind

Robbie Burns bought more shares, he has a good following.

http://www.frequenttrader.info/

not exactly new news, but good to see that not only Michael Morris (CEO) increased his holding a few weeks back, but Man Group bought about 3% on 11/5 and then increased this to about 6% on 15/5 ...... Despite general hight street gloom, Man must have confidence in the company, probably because Greg Tuffnell was removed (sacked in normal parlance) and MM took back the reins

Nice mention in today's Sunday Times, especially with regard to probale deal for selling brands in 9 x M/E countries - e.g. Dubai and other high profile, high spending areas ..... I would not be surprised to find the 5m profit forecast beaten, but more imprtantly, expect a bullish trading statement from Michael Morris ..... Some regret that Greg Tuffnell was kicked out, but I reckon MPH were very well rid of him.

Market likes not so much the figures, which are dead in line, but the very bullish trading statement that accompanies ...... Don't expect to see sp rocketing away to even 50p, but 30p is prob not out of the question over the coming months and for those who want a quick turn, just possibly not too late even now.

Marchpole Holdings PLC
28 June 2006


MARCHPOLE HOLDINGS PLC

('the Company')

PRELIMINARY RESULTS FOR THE YEAR ENDED 31 MARCH 2006

Increasing sales and expanding global reach


Marchpole Holdings plc, the rapidly growing international fashion brand
management group which designs, produces and sells high quality clothing and
accessories for seven world class brands (Yves Saint Laurent, Boateng,
Jean-Charles de Castelbajac, Jean-Charles de Castelbajac/Rossignol, Jean-Charles
de Castelbajac/Okaidi, Emanuel Ungaro and Ungaro) announces its preliminary
results for the year ended 31 March 2006.

Financial and Operational Highlights

Turnover up to 38.4m (2005:31.5m)
Operating profit 5.5m (2005: 5.1m)
Profit before tax 4.9m (2005: 4.9m)
EPS of 2.6 pence per share (2005: 2.3 pence)
Final dividend of 0.45 pence per share proposed payable in September 2006
(2005: 0.45 pence)
Strong forward order book - Autumn/Winter 2006 over 40m (2005:14.9m)
Acquisition of Moda America LLC, immediately earnings enhancing
Appointment of Michael Morris as Executive Deputy Chairman, John Harrison
as Finance Director and Donald Potard as CEO Europe for Jean Charles de
Castelbajac and Emanuel Ungaro

Commenting on the results, Michael Morris, Executive Deputy Chairman, said:

'The last year has been one of significant progress for the Company and we
continue to build for the future. A major achievement during the year was the
acquisition of Moda America LLC, the US licensee for Emanuel Ungaro, which
expands our global reach and importantly offsets the termination of the Yves
Saint Laurent licence.

Marchpole has evolved from being a single brand, single country business to a
diversified multi-brand international business with strong growth potential. We
now operate through wholly owned subsidiaries in the major fashion centres of
the world - the UK, mainland Europe in France and Italy, Asia and the USA. - for
a wide range of internationally recognised fashion brands. Additionally we are
negotiating an exclusive distribution agreement to supply both the JCC range and
Ungaro into nine Middle Eastern and Gulf states and anticipate that an agreement
will be signed imminently.

The Company's profitability and our strong Autumn/Winter forward order book are
a reflection of the investments which have been made in developing the Company's
brands and we shall continue to pursue other earnings enhancing acquisitions and
licensing opportunities.'

For further information please contact:

Marchpole 020 7 908 7777
Michael Morris, Executive Deputy Chairman
John Harrison, Finance Director

Bell Pottinger 020 7 861 3232
David Rydell/ Emma Kent

Shore Capital 020 7 408 4090
Alex Borrelli/Dru Danford

An analysts' presentation will be held at Marchpole's offices at 10.00am on
Wednesday 28 June 2006.


CHAIRMAN'S STATEMENT

I am pleased to report the preliminary results of Marchpole Holdings plc for the
year ended 31 March 2006. The business continues to grow and to expand its
global reach.

The future potential of the business lies within the expertise of managing
brands on a worldwide platform. This platform has been developed over the last
three years and we anticipate further growth.

The acquisition of Moda America LLC which was completed during March this year
provides fresh opportunities for a number of our brands and helps to cement the
relationship with the House of Ungaro.

The Company's profitability and the current record order book provide a sound
reflection of the strength of the Company.

Results and Dividend

Continued improvements in the business are reflected by the increase in turnover
to 38.4m (2004: 31.5m). Despite the acknowledged difficult trading conditions
in the retail industry generally, excess one off legal costs and continued
investment in brands, operating profit including the impact of Moda acquisition
has increased to 5.5m (2004: 5.1m) Profit before taxation has been maintained
at 4.9m (2005: 4.9m). The basic EPS is 2.6 pence per share (2005: 2.3 pence
per share).

The board is recommending the payment of a maintained final dividend of 0.45
pence per share, which when added to the interim dividend of 0.25 pence per
share gives a total dividend for the year of 0.7 pence per share (2005: 0.7
pence). The final dividend is proposed to be paid on 14 September 2006 following
the completion of the Company's Annual General Meeting.

Moda America LLC Acquisition

The acquisition of Moda America LLC was completed in March 2006 and was
immediately earnings enhancing. The acquisition strengthens our relationship
with Emanuel Ungaro and importantly is expected to offset the termination of the
Yves Saint Laurent license in December 2006. It is a significant development as
it offers the Company a unique opportunity to exploit its proven management
skills to expand the business into the world's largest market, the United
States, and is a catalyst for further growth opportunities in the US and the UK.
In particular, Marchpole has used its expertise within the industry to reduce
overheads and increase margins and will leverage the well established
relationships that Moda America LLC has developed with distributors in the USA
to enhance promotion of the Jean-Charles de Castelbajac ('JCC') brands which
have a strong legacy in the USA. JCC has previously sold into prestigious
retailers such as Neiman Marcus, Barneys, Saks and many independent boutiques.
The acquisition of Moda America will allow the Company to continue to develop
these opportunities.

Licences

Emanuel Ungaro and Ungaro Homme

The acquisition of the House of Ungaro by Mr Asim Abdullah late last year from
the Ferragamo family has strengthened the relationship between the House and
Marchpole. We are working closely together on developments in design, product
range and distribution.

A new seven year Ungaro Homme licence has been signed to cover North, Central
and South America in addition to Marchpole's existing licence for the UK and
Ireland. We also have first options for licence agreements for other countries
around the world. We hold the worldwide licence for Emanuel Ungaro.

Through Moda America we have a strong forward order book for Autumn/Winter 2006
and the collections for Spring/Summer 2007 have been well received by US and UK
retailers and the fashion media.

In the UK early sales orders are encouraging and we are confident that the
Ungaro brand will go a long way towards replacing Yves Saint Laurent during the
medium term.

Jean-Charles de Castelbajac S.A. ('JCC')

Development of the JCC brand has continued throughout the year.

During the period we appointed Jean-Paul Donald Potard Chief Executive Officer
for Jean-Charles de Castelbajac ('JCC') Europe and Emanuel Ungaro Europe
overseeing the menswear collections.

The brand reach continues to expand and during the period we extended our design
agreement and increased the licence income with our Japanese partner, Itochu,
for a further six years to 2011. Itochu handles the manufacture, wholesale and
retail of the Castelbajac collections for the lucrative Japanese market with an
approximate turnover of Euros75m.

Additionally the Company has also signed an agreement with a leading European
eyewear retailer Codir SA, to launch Castelbajac eyewear. The contract is for
three years and launched in 2006.

Income from existing JCC licence agreements has continued to increase and has
more than doubled post acquisition. Since the year end we have secured a major
licensing agreement for children's wear, signed with Okaidi in May 2006. Okaidi
has 450 retail outlets worldwide and we expect significant licence income from
this agreement.

We are in continuing negotiation with other potential licensees as we continue
to develop this segment of our strategy.

We have also signed a shop-in-shop agreement with Galleries Lafayette for the
JCC range to be sold in their flagship iconic Boulevard Haussman store in Paris
from July 2006. Furthermore the Company is negotiating an exclusive distribution
agreement to supply both the JCC range and Ungaro into nine Middle Eastern and
Gulf states and anticipates that an agreement will be signed imminently.

Direct sales through the JCC retail outlet in Paris are encouraging as are those
from the outlet in Fidenza, Italy which was opened in November 2005.

Our partners in other countries are opening dedicated JCC retail outlets. This
September will see the opening of a 150 square metre flagship store in Kobe,
Japan to be followed by Tokyo.

We continue to invest in the brand and are confident of future growth.

Yves Saint Laurent

Since the acquisition of Yves Saint Laurent by Gucci seven years ago the House
policy has been not to renew licencing agreements nor to grant new ones. This
means that the relationship between Marchpole and Yves Saint Laurent, which has
been in existence for more than 30 years, will terminate at the end of 2006.

We are pleased to report that demand from Marchpole's customers has been
maintained despite the knowledge that this will be the final year that we are
able to supply product.

Marchpole's strategy for the last few years has been based on the expectation
that the Yves Saint Laurent licence agreement would not be extended beyond 2006
and the Company is confident that it is well placed to withstand this
termination.

Boateng

Despite the ongoing dispute with Bespoke Couture, the Company owned and run by
Ozwald Boateng, Marchpole has continued to develop and sell the Boateng
collection and our commitment to the brand remains unaltered.

It is anticipated that the dispute will be settled by the Court of Appeal later
this year and the Company remains confident of a satisfactory outcome.

Management Structure

During the year Michael Morris, founder of Marchpole with more than 30 years'
experience within the fashion clothing industry, was appointed Executive Deputy
Chairman and assumed overall senior executive responsibilities

John Harrison, director and full-time Acting Finance Director since October
2005, was appointed executive Group Finance Director.

In addition we also appointed a new European Chief Executive Officer, Jean-Paul
Donald Potard. Mr Potard is Chief Executive Officer for Jean-Charles de
Castelbajac ('JCC') Europe and Emanuel Ungaro Europe overseeing the menswear
collections. Donald joined Marchpole from Jean-Paul Gaultier where he was Chief
Executive Officer from 1991 to 2005.

Greg Tufnell CEO left the Company to pursue other interests at the end of the
financial year.

Outlook

The business continues to progress and to invest for the future. The acquisition
of Moda America LLC is a significant milestone in the development of the
Company. We will continue to focus on acquisitions, entering into new licence
agreements and extending existing ones. I am confident that we have the
management team and the expertise to take the Company forward and to take full
advantage of global opportunities. We are currently in negotiations for both a
new licensing agreement and for a modest acquisition which we hope to conclude
in the current financial year.

On behalf of the board of directors I would like to thank the employees of the
Company for their contribution towards the results for the year and in
anticipation of their continued efforts towards yet further progress. Together
we look forward to harnessing the core strengths of the Company and to
delivering enhanced shareholder value over the coming years.

Christopher Phillips
Chairman 28 June 2006

Dividend Declaration

The Company confirms the following final dividend information:

Amount of final dividend: 0.45 pence per Ordinary Share
Record date: 18 August 2006
Date of AGM: 12 September 2006
Expected payment date: 14 September 2006



CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 MARCH 2006

31-Mar-06 31-Mar-05
Note '000 '000
Total Total
Continuing Operations
Revenue 38,370 31,520
Cost of sales (22,472) (16,419)
--------- ----------

Gross profit 15,898 15,101

Distribution costs (2,230) (3,059)
Administration expenses (9,092) (6,909)
Fair value of net assets acquired in excess
fair value of purchase consideration 5 889 -
--------- ----------

Operating profit 5,465 5,133

Finance costs (541) (253)
--------- ----------

Profit before tax 4,924 4,880

Tax 2 (1,399) (1,829)
--------- ----------
Profit attributable to the equity shareholders 3,525 3,051
========= ==========

Earnings per share 3
Basic 2.6 2.3
--------- ----------

Diluted 2.6 2.2
--------- ----------



GROUP BALANCE SHEET
AS AT 31 MARCH 2006

31-Mar-06 31-Mar-05
'000 '000
Non-current assets
Goodwill 3,925 3,441
Intangible assets 2,317 386
Property, plant and equipment 1,335 759
--------- ----------

7,577 4,586
--------- ----------
Current assets
Inventories 3,868 1,658
Trade and other receivables 21,017 9,386
Cash and cash equivalents 745 254
--------- ----------

25,630 11,298

Total assets 33,207 15,884

Current Liabilites
Bank overdraft and loans (10,039) (3,096)
Trade and other payables (9,727) (3,901)
Liabilities for current tax (2,369) (1,255)
Deferred tax liabilities (247) -
Obligations under finance lease (16) (31)
--------- ----------

(22,398) (8,283)

Net current assets 3,232 3,015
--------- ----------

Total assets plus current liabilities 10,809 7,601

Non-current liabilities
Obiligations under finance leases (263) (315)
--------- ----------
Deferred Tax (302) -
--------- ----------

Net assets 10,244 7,286
========= ==========

Capital and reserves
Share capital 1,360 1,335
Share premium 2,798 2,704
Other Reserves 290 43
Foreign exchange reserves (212) (133)
Retained earnings 6,008 3,337
--------- ----------

Total shareholders' funds - equity interests 10,244 7,286
========= ==========



CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2006


Note 31-Mar-06 31-Mar-05
'000 '000

Net cash from operating activities 6 (4,225) (2,736)

Investing Activities
Interest received - 3
Purchases of plant & equipment (507) (538)
Purchase of intangible assets - (283)
Acquisition of subsidiary (837) -
--------- --------
Net cash used in investing activities (1,344) (818)

Financing Activities -
Equity dividends paid (934) (662)
Proceeds on issue of shares 119 48
New loans - 5,637
Increase in bank facilities 6,645 566
Capital element of finance lease rentals (15) (710)
Repayment of loans (52) (3,869)
--------- --------
Net cash used in financing activities 5,763 1010

Movement in cash for the year 194 (2544)

Cash and cash equivalents (including overdrafts) at
the of the year (442) 2,102
--------- --------
Cash and cash equivalents (including overdrafts) at
the start of the year (248) (442)
========= ========



CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MARCH 2006

Foreign
Share Share Other Exchange Retained
Capital Premium Reserve Reserve Earnings TOTAL
'000 '000 '000 '000 '000 '000

As at 1
April
2004 1,325 2,666 - - 948 4,939

Shares
issued
in the
period 10 38 - - - 48
Credit in
respect of
share
option
charge - - 43 - - 43
Profit for
the
year - - - - 3,051 3,051
Foreign
exchange
movement - - - (133) - (133)
Dividends - - - - (662) (662)
------- ------- -------- -------- ------- --------

As at 31
March
2005 1,335 2,704 43 (133) 3,337 7,286
Adoption
of
IAS 32/39 - - - - 80 80
------- ------- -------- -------- ------- --------
As at 1
April
2005 1,335 2,704 43 (133) 3,417 7,366

Shares
issued
in the
period 25 94 - - - 119
Credit in
respect of
share
option
charge - - 247 - - 247
Profit for
the
year - - - - 3,525 3,525
Foreign
exchange
movement - - - (79) - (79)
Dividends - - - - (934) (934)
------- ------- -------- -------- ------- --------
As at 31
March
2006 1,360 2,798 290 (212) 6,008 10,244
======= ======= ======== ======== ======= ========



NOTES TO THE FINANCIAL INFORMATION
FOR THE YEAR ENDED 31 MARCH 2006


1 General information and accounting policies

a. This is the first year that the group has presented its financial statements
under International Financial Reporting Standards ('IFRS') - see note 7 and 8.
The last financial statements under UK GAAP were for the year ended 31 March
2005 and the date of transition to IFRS was 1 April 2004.

b. The preliminary result have been prepared in accordance with the accounting
policies adopted under 1FRS for the first time. These accounting policies are
consistent with those published in the UK GAAP financial statements for the year
ended 31 March 2005 with exception of certain changes described in note 8.

The group utilised the exemption available within IFRS 1 'First time adoption of
IFRS' that permits prospective application of IAS 32 (Financial Instruments;
Disclosure and Presentation) and 39 (Financial Instruments; Recognisation and
Measurement.) Consequently, the relevant comparative information for the year
ended 31 March 2005 does not reflect the impact of this standard.

c. Whilst the financial information included in this preliminary announcement
has been prepared in accordance with IFRS as endorsed by the European Union,
this announcement does not itself contain sufficient information to comply with
all the disclosure requirements of IFRS. The company expects to publish a full
set of accounts that comply with IFRS in August 2006.

d. The financial information set out in this announcement does not constitute
the Group's statutory accounts for the years ended 31 March 2006 or 31 March
2005, but it is derived from those accounts as restated for the adoption of
IFRS. Statutory accounts for 2005 have been delivered to the Registrar of
Companies. The financial information for the year ended 31 March 2006 is
unaudited. The statutory accounts for the year ended 31 March 2006 will be
finalised on the basis of the financial information presented by the Directors
in this preliminary announcement and will be delivered to the Registrar of
Companies after the company's annual general meeting. The previous auditors have
reported on the UK GAAP accounts for the year ended 31 March 2005; their report
was unqualified and did not contain statements under s237 (2) or (3) Companies
Act 1985.

e. The Board of Directors approved the preliminary announcement on 27th June
2006.


2 Taxation

31-Mar-06 31-Mar-05
'000 '000
UK corporation tax at 30% (2004 - 30%):
Current tax charge on profit for the year 1,613 1,812
Prior period adjustment (331) (118)
Foreign tax 149 135
Deferred tax credit (32) -
---------- ----------
1,399 1,829
========== ==========


3 Earnings per share

The calculation of the basic and diluted earnings per share is based on the
following data:


31-Mar-06 31-Mar-05
'000 '000
Net Profit attributable to equity shareholders 3,525 3,051
========== ==========

Weighted Average number of ordinary shares in issue 133,764,568 132,545,402
Effect of dilutive potential ordinary shares 1,948,963 3.930.404
---------- ----------
135,713,531 136,475,806
========== ==========

Earnings per Share
Basic 2.6p 2.3p
Diluted 2.6p 2.2p



4 Dividends

31-Mar-06 31-Mar-05
'000 '000

Interim dividend paid - 0.25p per ordinary share (2005: 0.25p per share) 332 331
Final dividend for prior period - 0.45p per share (2005: 0.25p per share) 602 331
---------- ----------
934 662
========== ==========


The Company confirms the following final dividend information which subject to
approval by shareholders at the Annual General Meeting and has not been
recognized as a liability in accordance with accounting standards (IAS10).

Amount of final dividend: 0.45 pence per Ordinary Share
Record date: 18 August 2006
Date of AGM: 12 September 2006
Expected payment date: 14 September 2006


5 Acquisition of subsidiary

During the year the group purchased the entire equity interest of Moda
America LLC effective 31 December 2005. Provisional values have been
assigned to the assets and liabilities acquired and the purchase
consideration based on information held to date, however, adjustments to
these values may occur as the fair values and purchase consideration are
finalised.

Book Value Fair value Fair
adjustments Value
'000 '000 '000
Net assets acquired
Property, plant and equipment 621 (483) 138
Inventories 611 - 611
Trade and other receivables 2,579 (130) 2,449
Cash and cash equivalents (18) - (18)
Trade and other payables (3,188) (57) (3,245)
--------- --------- --------
605 (670) (65)
========= =========

Intangible value ascribed to client
relationships 2,000
less deferred tax accrual (600)
Fair value of net assets acquired in excess of
fair value of purchase consideration -
recognised in the income statement (889)
--------
Total consideration 446
========
Satisfied by:
Cash 182
Directly attributable costs 264
--------
446
========

Adjustments include amendments to reflect the fair value of the assets and
liabilities acquired, specifically to write off fixed assets which could
not be physically verified and to identify additional liabilities which
were not recorded in the book value.

The final consideration is subject to agreement with the vendor in respect
of a set of completion accounts. Negotiations remain ongoing. The
consideration included above represents the Directors' expectation of the
final purchase price and includes an anticipated recovery of 408,000 in
relation to cash paid to date. Any movements in the final consideration
will be reflected in the group's accounts for the forthcoming year in
accordance with IFRS 3: Business Combinations.

Turnover of Moda America LLC for the period from acquisition to 31 March
2006 was 2,551,000 and the profit before tax was 336,000.


6 Net cash outflow from operating activities

31-Mar-06 31-Mar-05
'000 '000

Operating profit 5,465 5,133
Adjustments for:
Gain on derivatives (17) -
Depreciation 295 202
Amortisation of intangible assets 71 17
Share option provision 247 43
Excess of net assets acquired over consideration released
to income statement (889) -
Foreign exchange - (70)
--------- ----------
Operating cash flows before movements in working capital 5,172 5,325

(Increase) / decrease in inventories (1,599) 328
(Increase) in debtors (8,786) (4,646)
Increase / (decrease) in creditors 2,590 (1,830)
--------- ----------

Cash generated by operations (2,623) (823)
Income taxes paid (1,061) (1,660)
Interest Paid (541) (253)
--------- ----------
Net Cash from operating activities (4,225) (2,736)
========= ==========

7 Reconciliation between UK GAAP and IFRS

The table below highlights the financial impact on the profit before tax and net
assets of the key IFRS adjustments described in note 8.

Year to
31 March 2005
'000

Profit before tax reported under UK GAAP 4,747
IFRS adjustments:
Share based payments (IFRS 2) (43)
Goodwill amortisation (IFRS 3) 176
----------
Profit before tax restated under IFRS 4,880
Taxation (1,829)

Profit for the year restated under IFRS 3,051
==========

1 April 2004 31 March 2005
'000 '000

Net assets under UK GAAP 4,608 6,573
IFRS adjustments:

Dividend recognition (IAS 10) 331 601
Goodwill amortisation (IFRS 3) - 176
Goodwill retranslation (IAS 21) - (64)
---------- ----------
Net assets reported under IFRS 4,939 7,286
========== ==========



8. IFRS Adoption

As noted above the group has adopted IFRS for the first time in the year ended
31 March 2006

The changes to the group's existing UK GAAP accounting policies are set out
below. Where the group has taken advantage of the exemptions given by IFRS 1:
First Time Adoption of International Financial Reporting Standards this is also
noted below.

IFRS 2: Share Based Payments - charges have been made to the income statement in
respect of employee share options based on the fair value at grant date. The
charge is recognised over the related performance period. As permitted by IFRS1,
IFRS 2 has not been applied to options granted prior to 7 November 2002 which
had not vested by 1 April 2004 or to options granted subsequent to 7 November
2002 but which vested before 1 April 2004.

IFRS 3: Business Combinations - IFRS 3 requires impairment reviews to be
performed on an annual basis on the goodwill held by the group. Any impairment
will be recognised in the consolidated income statement. An impairment review
has been completed at each period end and no impairment was evident, and as a
result no impairment loss has been charged. The group has taken the exemption in
IFRS 1 from restating business combinations prior to 1 April 2004. In accordance
with IFRS 3 goodwill amortisation from this date charged under GAAP has been
written back.

IAS 10: Events after balance sheet date - Under IAS 10 dividends in respect of a
year are only recognised when they are declared and approved. Dividends charged
in earlier periods have been reallocated to the period in which they are
declared.

IAS 21: The effects of changes in foreign exchange rates - Under IAS 21 the
goodwill arising on the purchase of a foreign subsidiary is regarded as an asset
of the subsidiary concerned, denominated in foreign currency and retranslated at
the balance sheet date. Exchange differences arising from this retranslation,
and that of other assets of foreign subsidiaries are accumulated in a separate
reserve within equity. The group have taken the option to set this reserve to
zero at transition to IFRS.

IAS 32 and 39: Financial Instruments Measurement and Reporting - The group has
taken the option not to apply the accounting under these standards to the
comparative figures. The balance sheet at 1 April 2005 has been adjusted to
account for the standards. The group enters into foreign exchange forward
contracts to economically hedge purchases and sales of goods in foreign
currencies (principally USD). These derivatives are included on the balance
sheet and movements in fair value are taken to the income statement. In
addition, contracts for purchases of goods in foreign currencies that contain
embedded derivatives have been separated and the derivative recognised at fair
value with movements being recognised in the income statement.











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

Strong forward order book - Autumn/Winter 2006 over 40m (2005:14.9m)
Acquisition of Moda America LLC, immediately earnings enhancing

Marchpole Hldgs Marchpole FY pretax unchanged on higher sales; maintains final div UPDATE
(Updates to add details on forward order book; company comments)
LONDON (AFX) - Fashion brand management group, Marchpole Holdings PLC said
it managed to maintain full year pretax profits despite difficult trading
conditions in the retail industry, excess one off legal costs and continued
investment in brands.
In a statement, it said: "The company's profitability and the current record
order book provide a sound reflection of the strength of the company."
The company said it has a strong forward order book, with the autumn/winter
2006 orders over 40 mln stg, against 14.9 mln the previous year.
Executive deputy chairman Michael Morris said the company will continue to
pursue other earnings enhancing acquisitions and licensing opportunities.
"... we are negotiating an exclusive distribution agreement to supply both
the JCC range and Ungaro into nine Middle Eastern and Gulf states and anticipate
that an agreement will be signed imminently."
In the year to March, the company said full year sales rose to 38.4 mln stg
from 31.5 mln the year before while pretax profit was held at 4.9 mln stg.
Basic EPS was 2.6 pence, up from 2.3 pence previously.
Marchpole is proposing a final dividend of 0.45 pence, unchanged from the
year before, taking total dividend for the year to an unchanged 0.7 pence.

newsdesk@afxnews.com
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Drapers Record 8th July 2006

Marchpole on acquisition trail despite losing YSL.

Marchpole is in talks to secure a trio of new brands by the end of the year.

The deals, which could be licences or acquisitions, will help fill the gap left by Marchpole's YSL licence, which expires in December with spring 07 product.

Marchpole executive deputy chairman Michael Morris, who set up the YSL licence about 30 years ago, said he was sure Marchpole would continue to grow. The brand house already owns French brand Jean-Charles de Castelbajac (JCC) plus the licence for Emanuel Ungaro and the Ungaro Homme diffusion range, and Morris said expansion in the UK and abroad was the key to its future.

Ungaro Homme is sold in 10 Debenhams, 10 Moss Bros and five John Lewis stores, and Morris is aiming to triple these key accounts to 30, 30 and 15 stores respectively next year.

JCC has about 24 accounts in the UK and Morris said he wanted to grow it rapidly to 100 in the next two to three seasons.

Morris also plans to build JCC's wholesale accounts across Europe, Russia and the US and is in talks for a distribution deal in the United Arab Emirates.

MPH perkier today & lots of activity.Director buying 200k shares.Further shares bought 800K, 1m @ 20p buyer(s) unknown and mms buying.

Watch this space.Place on monitor watch list.

more to the point it was MM who bought 200k shares talking his holding to just below 20%

Tick up this morning 20p-20.5p.

That 1m buy paying premium @ 20p to me sends out a very strong buy signal.

Chance to get in for under 21p.

Remember reasonable yield from dividend.

27 Jun 2006 Final GBP 0.45 31/03/2005 31/03/2006 16/08/2006 18/08/2006 14/09/2006 0.70
15 Nov 2005 Interim GBP 0.25 01/04/2005 01/10/2005 28/12/2005 30/12/2005 31/01/2006

My views on this company can be seen on posts 554-556 ..... I am now liking the feel of it even more, notwithstanding that it is dependent, at least to some extent, on UK retail sales ..... However, I not think that the high end fashion, which is MPH's mainstay, is as affected as the ordinary high street retailers ..... Since MM took over day to day running, the company feels much more dynamic, as highlighted by today's RNS ..... I think the shares are worth tucking away

Up 5% today, could move quickly in the run upto results (last year was mid-November)