RNS Number:7627K
Delta PLC
07 May 2003




              Chairman's Statement at 2003 Annual General Meeting



At the Annual General Meeting of Delta plc held today, the Chairman, Sir Martin
Jacomb said:



"The Group experienced an overall improvement in trading during 2002 even
though the global economic environment continued to deteriorate as the year
progressed. The recovery seen in Specialty Chemicals more than offset weakness
in the Electrical Division which has now been sold. It is encouraging that
recovery and growth was seen by our continuing businesses which now represent
the future of Delta.



In 2002 our Specialty Chemicals businesses increased sales by 20% on the
previous year. In the Electrolytic Manganese Dioxide (EMD) business, where we
are the leading global supplier and lowest cost producer, the new capacity at
Nelspruit will be available for commissioning later this year to meet increasing
volumes as required. Efforts to gain market share by our customers, the dry cell
battery manufacturers, through promotions and price offers plus the short-term
increase in battery demand in the USA reflecting concerns about security may
affect volumes during 2003.



Galvanizing successfully increased volumes and profits in their plants
throughout Asia Pacific. Despite the continuing effects of the weak American
economy, the US operations increased sales generating cash, although not yet
profits, during the year. Our Industrial Supplies business had another
successful year increasing both sales and profits reflecting improved economic
activity in their markets



The Group is focused primarily on Specialty Chemicals where EMD and Galvanizing
have growth opportunities while Industrial Supplies provides stable returns and
strong cashflow. Reflecting this, Delta has been re-classified to the FTSE
Chemicals sector.



In February 2003, we announced the acquisition for #19 million of Webforge, a
manufacturer and supplier of construction and civil products, which complements
our Galvanizing operations throughout Asia Pacific.  To achieve the best results
from a galvanizing plant it is important to have a regular throughput of
manufactured items in order to guarantee optimum use of the bath.  Webforge
products which need  galvanizing, are just such items and thus will add value to
our Galvanizing business.



In March we commented that the performance of the continuing businesses was
encouraging and since then overall trading has remained in line with
expectations.  Global economic conditions remain difficult and the outlook
uncertain, affecting exchange rates in the short-term.  The weaker US$ and the
stronger South African Rand has an adverse effect on our Manganese Metal
business in particular because costs are denominated in Rand and sales in US$.
This is being offset by a steady performance in Electrolytic Manganese and
growth in Galvanizing businesses. Industrial Supplies continues to perform
satisfactorily."





Date: 7 May 2003







Contact:



Delta plc
Mark Robson
Finance Director
Tel: 020 7836 3535



IRfocus (Investor Relations Consultants)
Chris Birks
Tel: 020 7861 3893



Brunswick (Press Enquiries)
Andrew Fenwick/Sarah Tovey
Tel: 020 7404 5959






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

AGMNKAKPABKDCPK