Dawson Holdings PLC

1
Dawson Holdings PLC Quality Distribution,
Logistics Marketing Services Interim Results
for the 26 weeks ended 27 March 2004
2
Dawson Holdings PLC - Headline Results

• PBT up 23 to 7.4m (from 6.0m)
• (2003 year increased by 32)
• EPS up 28 to 7.4p (from 5.8p)
• (2003 year increased by 31)
• Net Debt down 15.6m from corresponding time
  last year
• Interim Dividend increased to 2.8p (from 2.6p)
• 2003 compared to 2002 pre-exceptional items

3
Dawson Holdings PLC - Highlights

• All four divisions improved results
• Strong sales in News division
• Contract gains in Books division
• Consolidation at Marketing Services
• Gate service opportunity taken by Media Direct
• Interim dividend increased

4
Dawson Holdings PLC - Headline Results
5
Financial Analysis - Turnover
6
Financial Analysis - Operating Profits
7
Financial Analysis - Profit before Tax
8
Financial Analysis - Earnings per Share
9
Financial Analysis - Cash Flow
10
Dawson News

• 6.7 growth in sales revenue (2 of which was
  prior year tabloid price discounting)
• Sales revenue approx 50/50 newspapers/magazines
• Newspapers cover price rises exceed volume falls
• Periodical sales growth continues
• Celebrity titles
• Part works

11
Dawson News

• Progress on IT development strategy
• Control over cost despite volume increases
• Focus groups
• Vertical agreements

12
Dawson Marketing Services

• Investing for fulfilment business
• Travel brochure volumes
• Increased new business focus

13
Dawson Media Direct

• BA Gate Service extended across Europe
• Turnover up 16
• Selling on board yet to take off

14
Dawson Books

• Strong growth in UK Consortia market
• Gains in SUPC tender
• Extension to LUPC and CALIM
• More difficult trading in export markets
• Electronic books
• IT Investment

15
Priorities for the rest of the financial year and
beyond

• Enhancing service levels in Dawson News
• Converting fulfilment opportunities to reality in
  DMS
• European expansion in DMD
• Export markets for Dawson Books

16
Current Trading

• Sales growth and cost control continues
• Board confidence reflected in increased dividend