We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Feedback Plc | LSE:FDBK | London | Ordinary Share | GB00BJN59X09 | ORD 50P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 62.50 | 60.00 | 65.00 | 62.50 | 62.50 | 62.50 | 168 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Electronic Computers | 1.03M | -2.92M | -0.2188 | -2.86 | 8.33M |
From Jul 2019 to Jul 2024
TIDMFDBK
RNS Number : 5227Y
Feedback PLC
25 February 2013
FEEDBACK PLC
Feedback plc
("Feedback", the "Company" or the "Group")
Interim Report for the six months ended 30 November 2012
KEY POINTS
-- Turnover GBP0.97 million (2011 continuing operations - GBP0.99 million) -- Loss before tax GBP0.29 million (2011 - Profit before tax GBP0.35 million) -- Loss per share 0.22p (2011 - Earnings per share 0.30p)
Results for the first half of the year reflect the continuing challenge of restructuring the Group in tight market conditions whilst we remain bound by the constraints of the Group's working capital requirements.
Reducing overheads has been a primary concern and this led to a significant restructuring during the period under review - hardware development, production and certain customer support functions have now all been outsourced.
Against this challenging background, we have had some success with our strategy of focusing on the two markets that show the greatest promise and enhancing our hardware products with a more compelling software proposition through our cloud based Fastlane platform ("Fastlane"). In our established Access Control market, our commitment to providing a total service continues to generate sales and recurring maintenance income. In the Attendance market, our Nohmad product, now fully integrated with Fastlane, is being used by customers in the UK, Europe and Australasia and has been the key to opening new customer relationships.
After a period of considerable change, I'm pleased to report that current trading is showing signs of stabilising. However, we recognise the challenges and constraints within which we operate and we continue to explore all opportunities to maximise shareholder value and realise our strategic goals.
Nick Shepheard
Chairman and Chief Executive
25 February 2013
Enquiries:
Hot Features
Premium
Feedback plc
Nick Shepheard Tel: 0845 3379
155
Merchant Securities Limited
Simon Clements Tel: 020 7628
2200
UNAUDITED CONSOLIDATED INCOME STATEMENT
6 months 6 months Year to
to to 31 May
30 November 30 November 2012
2012 2011
GBP'000 GBP'000 GBP'000
Revenue 976 4,100 7,046
Cost of sales (519) (2,363) (4,598)
------------- ------------- ----------
Gross profit 457 1,737 2,448
Other operating expenses (750) (1,389) (2,862)
------------- ------------- ----------
Operating (loss)/profit (293) 348 (414)
Losses on disposal of discontinued
operations - - (1,369)
Finance costs (26) - (13)
------------- ------------- ----------
(Loss)/profit before tax (319) 348 (1,796)
Tax credit/(expense) 21 (1) (23)
------------- ------------- ----------
(Loss)/profit for the period
attributable to the
equity shareholders of the parent (298) 347 (1,819)
Other comprehensive income
Translation differences on overseas
operations - 9 10
------------- ------------- ----------
Total comprehensive (expense)/income
for the period (298) 356 (1,809)
============= ============= ==========
Basic and diluted (loss)/earnings
per share 2 (0.22p) 0.30p (1.47p)
============= ============= ==========
UNAUDITED INTERIM CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Share Share Capital Retained
Capital Premium Reserve Earnings Total
GBP000 GBP000 GBP000 GBP000 GBP000
Balance at 31 May 2011 273 633 300 1,443 2,649
Total comprehensive income
for the period 54 218 - 356 628
-------- -------- -------- --------- --------
Balance at 30 November 2011 327 851 300 1,799 3,277
Total comprehensive expense
for the period - - - (2,165) (2,165)
-------- -------- -------- --------- --------
Balance at 31 May 2012 327 851 300 (366) 1,112
Total comprehensive income
for the period - - - (298) (298)
-------- -------- -------- --------- --------
Balance at 30 November 2012 327 851 300 (664) 814
======== ======== ======== ========= ========
UNAUDITED CONSOLIDATED BALANCE SHEET
30 November 30 November 31 May
2012 2011 2012
GBP'000 GBP'000 GBP'000
ASSETS
Non-current assets
Held for sale 1,050 - 1,050
Property, plant and equipment 40 1,490 73
Intangible assets 270 738 330
Deferred tax asset - 133 -
------------ ------------ --------
1,360 2,361 1,453
------------ ------------ --------
Current assets
Inventories 280 1,468 316
Trade receivables 404 1,265 343
Other receivables 42 309 160
------------ ------------ --------
726 3,042 819
------------ ------------ --------
Total assets 2,086 5,403 2,272
============ ============ ========
LIABILITIES
Non-current liabilities
Deferred tax liabilities 65 199 86
------------ ------------ --------
Current liabilities
Trade payables 229 707 228
Other payables 709 776 688
Bank overdrafts 269 444 158
------------ ------------ --------
1,207 1,927 1,074
------------ ------------ --------
Total liabilities 1,272 2,126 1,160
------------ ------------ --------
Net assets 814 3,277 1,112
============ ============ ========
EQUITY
Capital and reserves attributable
to the Company's equity
shareholders
Called up share capital 327 327 327
Share premium account 851 851 851
Capital reserve 300 300 300
Retained earnings (664) 1,799 (366)
------------ ------------ --------
Total equity 814 3,277 1,112
============ ============ ========
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT
6 months 6 months Year to
to to 31
30 November 30 May
2012 November 2012
2011
GBP'000 GBP'000 GBP'000
Cash flows from operating activities
(Loss)/profit before tax (319) 348 (1,796)
Adjustments for:
Loss on disposal of subsidiary - - 802
Impairment provision against property - - 274
Finance charges - - 13
Depreciation and amortisation 115 204 508
Foreign exchange difference - 9 (10)
Decrease/(increase) in inventories 36 (438) (310)
(Increase)/decrease in trade receivables (61) (335) 212
Decrease/(increase) in other receivables 118 (76) 42
Decrease/(increase) in trade payables 1 (202) (286)
Decrease/(increase) in other payables 21 (41) 434
------------- ---------- --------
Net cash used in operating activities (89) (531) (117)
------------- ---------- --------
Cash flows from investing activities
Purchase of tangible fixed assets - (36) (51)
Purchase of intangible assets (22) (158) (258)
------------- ---------- --------
Net cash used in investing activities (22) (194) (309)
------------- ---------- --------
Cash flows from financing activities
Interest paid - - (13)
Proceeds from issuance of ordinary
shares - 272 272
------------- ---------- --------
Net cash generated from financing
activities - 272 259
------------- ---------- --------
Net movement in cash and cash equivalents (111) (453) (167)
Cash and cash equivalents at beginning
of period (158) 9 9
------------- ---------- --------
Cash and cash equivalents at end
of period (269) (444) (158)
============= ========== ========
FEEDBACK PLC
NOTES TO THE UNAUDITED INTERIM REPORT
1. BASIS OF PREPARATION
The consolidated interim financial statements have been prepared in accordance with the recognition and measurement principles of International Financial Reporting Standards as endorsed by the European Union ("IFRS") and expected to be effective at the year end of 31 May 2013. The accounting policies are unchanged from the financial statements for the year ended 31 May 2012.
The information set out in this interim report for the six months ended 30 November 2012 does not comprise statutory accounts within the meaning of section 434 of The Companies Act 2006. The results for the period ended 31 May 2012 are based on the published financial statements for that period on which the auditors gave a report which did not contain statements under section 498 of the Companies Act 2006. The financial statements for the period ended 31 May 2012 have been filed with the Registrar of Companies.
This interim report was approved by the directors on 25 February 2012.
2. GOING CONCERN
The current situation and outlook cast significant doubt on the Group's ability to continue as a going concern. Based on current plans however, the Directors consider that the Group is a going concern and have prepared the interim financial statements on a going concern basis. The interim financial statements therefore do not include any adjustments that would result if the Group was unable to continue as a going concern. In the event the Group ceased to be a going concern, the adjustments would include writing down the carrying value of assets, including intangible assets and inventories, to their recoverable amount and providing for any further liabilities that might arise.
3. EARNINGS PER SHARE
The earnings per share for the six months ended 30 November 2012 is based on the Group loss on ordinary activities after taxation of GBP298,000 (2011: Profit GBP347,000) attributed to the weighted average of 130,946,746 Ordinary Shares (2011: 130,946,746), being the weighted average number of shares in issue
INDEPENDENT REVIEW REPORT TO FEEDBACK PLC
Introduction
We have been engaged by the Company to review the condensed set of financial statements in the interim financial report for the six months ended 30 November 2012 which comprises the Consolidated Income Statement, the Consolidated Statement of Changes in Equity, the Consolidated Balance Sheet, the Consolidated Cash Flow Statement and the Notes to the Unaudited Interim Report. We have read the other information contained in the interim financial report and considered whether it contains any apparent misstatements or material inconsistencies with the information in the condensed set of financial statements.
This report, including the conclusion, has been prepared for and only for the Company for the purpose of meeting the requirements of the AIM Rules for Companies and for no other purpose. We do not, therefore, in producing this report, accept or assume responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save where expressly agreed by our prior consent in writing.
Directors' Responsibilities
The interim financial report, is the responsibility of, and has been approved by the directors. The directors are responsible for preparing and presenting the interim financial report in accordance with the AIM Rules for Companies.
As disclosed in note 1, the annual financial statements of the Group are prepared in accordance with International Financial Reporting Standards and International Financial Reporting Interpretations Committee ("IFRIC") pronouncements as adopted by the European Union. The condensed set of financial statements included in this interim financial report has been prepared in accordance with the measurement and recognition criteria of International Financial Reporting Standards and International Financial Reporting Interpretations Committee ("IFRIC") pronouncements, as adopted by the European Union.
Our Responsibility
Our responsibility is to express to the Company a conclusion on the condensed set of financial statements in the interim financial report based on our review.
Scope of Review
We conducted our review in accordance with International Standard on Review Engagements (UK and Ireland) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Auditing Practices Board for use in the United Kingdom. A review of interim financial information consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing (UK and Ireland) and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
Emphasis of matter - Going concern
In forming our opinion, which is not modified, we have considered the adequacy of the disclosure made in note 2 to the interim financial statements concerning the Group and company's ability to continue as a going concern. These conditions, along with the loss incurred in the period to date indicate the existence of a material uncertainty which may cast significant doubt about the Group's and Company's ability to continue as a going concern. The interim financial statements do not include the adjustments that would result if the Group and Company were unable to continue as a going concern.
Conclusion
Based on our review, nothing has come to our attention that causes us to believe that the condensed set of financial statements in the interim financial report for the six months ended 30 November 2012 is not prepared, in all material respects, in accordance with the measurement and recognition criteria of International Financial Reporting Standards and International Financial Reporting Interpretations Committee ("IFRIC") pronouncements as adopted by the European Union, and the AIM Rules for Companies.
haysmacintyre
Chartered Accountants
Fairfax House
15 Fulwood Place
London
WC1V 6AY
25 February 2013
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR ELLFLXLFZBBD
1 Year Feedback Chart |
1 Month Feedback Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
