Casdon PLC - Half Yearly Report

Casdon Plc (the "Company")

Interim Results to 31^st October 2011

Chairman's Statement

Revenue for the six months ending 31^st October 2011 was £3,336,432 (2010 £3,208,401), an increase of 4% over the same period last year. Also by a focused attention to resolve the problems that beset Casdon in 2009-10, operating profit of £326,608 is significantly better than last year (2010 £138,300).

The Company balance sheet remains strong with net assets employed of £3,499,729 (2010 £3,554,304) representing a net asset value of 63.3p pence per share (2010 64.3p).

Current Trading

UK sales increased significantly, with the doubling of shipments to online retailers, and excellent sales to the major supermarkets. These successes have come about at the expense of the independent high street retailers, who have recorded lower levels of sales.

International sales were somewhat lower than last year, as the Company strives to do business at more acceptable margins, although sales to the USA have grown significantly.

Two long serving warehouse staff with service totalling over 50 years accepted voluntary redundancy at a cost of £34,000. They will not be replaced, their duties being absorbed by a combination of greater efficiency and temporary staff.

Looking forward to the second half year, sales for November (Stuttgart: A0Z24E - news) and December have been broadly in line with expectations, and reflect the pattern of the general retail trade according to the CBI's Distributive Trades Survey for the

first two weeks of December, in which 41% reported sales rises and 32% falls. Nevertheless this is 9% better than might have been expected.

Interim Dividend

Based on the results for the first half of the year the Directors are pleased to announce a dividend of 1.5pence per share (2010 0.75p). This will be paid on 12^th April 2012 to shareholders on the register on 2^nd March 2012.

The Directors would like to wish all shareholders a prosperous new year for 2012, and to thank you all for your support.

Paul M. Cassidy

Chairman

24^th January 2012

Notes

1) The results for the half year ended October 2011, which have been prepared in accordance with the accounting policies adopted in the financial statements for the year ended 30^th April 2011, have not been audited or reviewed by the Company's Auditors and do not constitute statutory accounts as defined in s434 of the Companies Act 2006.

The Financial information for the year ended 30^th April 2011 is an abridged version of the full accounts for that year, which have received an unqualified audit report and have been filed with the Registrar of Companies.

2) Taxation for the six months ended 31^st October 2011 has been based on the estimated effective tax rate for the full year.

3) The calculation of earnings per share is based on profit after taxation for the period divided by the number of shares in issue at the balance sheet date. The number of shares in issue was 5,524,350 ordinary shares.

4) The calculation of Net Asset Value per share is based on the shareholders funds divided by the number of shares in issue at the balance sheet date. The number of shares in issue was 5,524,350 ordinary shares.

5) Deferred liabilities and provisions relate to deferred taxation, motor vehicle hire purchase and short term loans.

6) This interim report will be sent to shareholders in due course. Further copies will be available to the public from the Companies Registered office at the address below, and on the Company's web site www.casdon.com

Casdon plc

Cornford Road, Blackpool. FY4 4QW. England

Telephone 01253 766411 Fax 01253 691486