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(FDBK.L) Feedback PLC Buy/Sell

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Current Market Information

Time: 06:53 (Market Closed)

Bid	3.00
Ask	4.00
Price	3.50
Previous	3.50
Change	+0 (0.0000%)
Last Trade	3.50 (16:30:00)
Trading Vol.	0
Today's High	3.50
Today's Low	3.50

52 Wk Low	1.50
52 Wk Low	(09/02/2009)
52 Wk High	4.25
52 Wk High	(21/10/2009)
52 Wk Change	+1.38
52 Wk Change	(+64.71%)
4 Wk Volume	0
ISIN Number	GB0003340550
Currency	GBX

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Recent News
Date/Time	Headline	Source
30-10-09	Feedback PLC - Final Results	RNS
This news article is displayed preformatted as it may contain results tables RNS Number : 6715B Feedback PLC 30 October 2009 FEEDBACK PLC (the "Group") PRELIMINARY RESULTS FOR THE YEAR ENDED 31 MAY 2009 Summary · Improved margins led to a 24% increase in Trading Profit to £603k despite a 15% fall in underlying Revenues · Gross operating margin improved from 5% to 7.4% · Strong cash focus with year end net cash balances of £269k · Ungeared Balance Sheet with Net Assets increasing to £3.9m · Significant investment into new Instruments product for 2010 · New and extended range of Data terminals to be launched at CeBIT in March 2010 Commenting on the results, Executive Chairman Michael Burt said: "In a difficult year we are pleased to have recorded a profitable outcome with a strengthened Balance Sheet. Although it was a year in which the Instruments business recorded a strong outcome on substantially maintained revenues the Data business was affected by weak markets which significantly affected customer confidence. Against this backdrop Feedback has committed significant new funds to both its businesses with Data in particular expected to benefit from new products and sharpened sales focus targeting, for the first time, all market segments. Instruments is also expected to gain from its new international partnerships and stronger sales focus particularly in traditional and new export markets." 30 October 2009 Enquiries: Michael Burt 01892 653 322 (Executive Chairman) Feedback plc Philip Davies / Carl Holmes 020 7149 6000 Charles Stanley Securities (Nominated Adviser) EXECUTIVE CHAIRMAN'S STATEMENT For the year ending 31 May 2009 Group Trading Profit improved from £485k to £603k, an increase of some 24%, which was achieved despite a reduction in turnover of 15% from £9.6m to £8.2m. The reduction in turnover was mainly contained within Feedback Data where the combination of weak markets and Far East imports significantly affected its business. The Board is taking action to address this situation. Notwithstanding the Revenue decline, the gross operating margin improved from 5.0% to 7.4%. This was particularly encouraging and reflected the Board's actions in containing costs at all levels within the Group, together with a robust operating performance from Feedback Instruments, where further outsourcing led to a useful improvement in operating margins. During the year development expenditure in both Feedback Instruments and Feedback Data remained at a high level. In addition significant sums were expended on infrastructure, specifically a new Group IT system at a cost of some £190k, which is currently nearing installation. Apart from these financial commitments, focus was maintained on working capital management. As a result net cash at the end of the period amounted to £269k and this position still continues. Additionally the Balance Sheet has strengthened with Net Assets as at 31 May 2009 of £3.9m equivalent to 3.6 pence per share. This does not include available group tax losses totalling £2.6m, still available against future profits. Since year end we have taken the opportunity to negotiate new additional committed working capital lines from our bankers on improved terms. Current trading is in line with the Board's expectations with some small signs of confidence returning, particularly in overseas markets. The UK however remains fragile and difficult particularly on the Data side where recovery is still some way off. Feedback Instruments Limited Instruments had a very active year. On a modest decline in revenues operating profits were significantly higher and a number of major contracts were awarded, particularly in Africa and the Middle East. For many countries in parts of the developing world secondary and university education of its citizens remains a high priority. Feedback Instruments continues to remain a recognised and important supplier of these needs. We continue to support and invest in our worldwide agent and distribution network with over 80 countries having a Feedback representative. Sales in the export market continue to prosper. The global recession has affected some traditionally strong markets in the Far East like Malaysia. However, business remains buoyant in the oil-producing countries, particularly in the Middle East. Saudi Arabia has especially seen Feedback's share of the market increase to a level not seen before. Libya has provided some good orders and, along with Nigeria and other African countries, has shown the significance of the continent. Plans are in place to target emerging economies around the World to increase our export sales. The UK market, however, is particularly difficult at this time; sales remain on target although slightly reduced with efforts being placed on providing other educational products through our existing channels. Feedback Incorporated Feedback Inc had a more encouraging year with revenues showing some stability and as a result of internal cost reductions an improved operating profit was achieved. The complete agent network was reviewed during the year and some changes made. Almost all states within the US are now covered by our agent network and a successful agent's conference was held in Raleigh Durham, North Carolina in March this year with a majority of our agents attending. A number of new products were shown and we have since seen an improvement in sales and enquiries, which should be helpful in achieving the stronger targets accepted by local management. Feedback Data Limited The slowdown in the UK has had a serious effect on the results of Feedback Data during the period. Operating profits were significantly reduced and current trading since the start of the new financial year has shown no signs of recovery. Demand for Data Capture Terminals, the Company's core business, was significantly weaker than anticipated and served to reinforce the strategy of developing related products for market sectors available outside the traditional core business area. The past lack of investment coupled with the economic downturn has highlighted the weaknesses of the Company's ageing Terminal range. This makes them less competitive in comparison to the multitude of Terminals now being offered to resellers from the Far East. On the Access Control side of the business lack of previous management focus on new customer sales led to a haemorrhaging of orders with few new sales, however, the Evolution Access Control solution is capable of being a class leader and new users have been enthusiastic as to its capabilities. As a consequence we will be re-launching Evolution as a branded product so that it competes more effectively in the market place. Much of the revenue from this side of the business has been generated from current users expanding their existing systems. To address this issue, new sales staff have been appointed and initial market reception has proved positive. Notwithstanding the weakness of trading, new investment in the Company by the Board has been committed and has resulted in the implementation of a strategy that will take Data into new business areas. It is hoped that these actions will strengthen its current market position. The first stages of this strategy have been implemented. An innovative Staff Monitoring System, the Nohmad, was unveiled to our resellers earlier in the year. The product's unique attributes generated an unprecedented amount of interest and has since attracted new resellers operating in areas which had previously been denied to us. In addition the product addressed pricing issues which had also affected sales. Interest in the product has not been restricted solely to our traditional resellers, but has also generated interest from a diverse cross section of industries including contract cleaning, logistics, mining and the auto industry. The imminent planned release of new variants of the Nohmad, including Biometric and Time Clock versions are being launched in November with a Proximity version in the first quarter of 2010. The sales team has recently been boosted by new staff who will sell the Evolution Access Control Product exclusively to end users. They will also manage all existing end user accounts and seek new security resellers. The Evolution product has matured over the last 18 months and is considered to be a competitive and comparable product in relation to those being offered by major players in the Access industry. It is believed that this side of the business is now well positioned for market expansion. The development of the next generation of product is well advanced. The products planned will share many common components and communication techniques and build costs will be reduced. The new range is designed to be at the forefront of market expectation in terms of design, price and technology. The entry model in particular is designed to meet pricing and specification issues in the volume market where foreign importers have made significant inroads. External industrial design consultants have been employed to assist in producing a distinctive 'product family' and provide a modern identity that will endure into the future. The designers will liaise with the Group's communications and branding consultants, to assist in the promotion of the product sets. The first products of the new range will launch at the CeBIT trade show in Hanover in March 2010. Our German subsidiary, Feedback GmbH, operated profitably during the period, but at lower levels. Pricing and product are still key issues but current developments are expected to address this. Additional effort is being put into broadening both our overseas reseller base and direct sales and we have been encouraged by early interest from the Middle East. Current Trading and Future Prospects The past year saw your company able to finally focus on trading issues without having to devote management time to legacy issues. Although we are still awaiting final clearance from the PPF with respect to the Feedback Defined Pension Scheme we are advised that this matter should be finally resolved towards the end of the current financial year. Feedback plc commenced the current trading year in a solid position with a strong asset position, cash in the bank and an order book only slightly reduced from that prevailing at the same time last year. June saw a very strong month for orders for Feedback Instruments, particularly from the Middle East, which took its order book to levels not seen for some time. The current position is also encouraging and a number of significant export contracts are likely to be awarded during the current financial year. The UK market, although weaker than previously anticipated, is showing signs of resilience and, with a refocused and more structured sales effort, we believe we will maintain our market position. In the current year Instruments should benefit from a number of new product launches. Additionally, new associations and partnerships have been formed with a number of major international educational companies, which will significantly extend our reach both in product and marketing terms and provide new routes to markets. The first portfolio of product for one partner is well advanced and will be offered to their supply chain before the end of the year. In support of these developments we are very pleased to welcome to the Board David Marks, Managing Director of Feedback Instruments who has been responsible for the improvement of Instruments performance. Feedback Data is still seeing tough markets for the reasons highlighted above. The launch of new products should be a significant help in arresting this position, although the benefit will not be seen, at the earliest, until the second half. As with Instruments, Data is looking to enter into partnership arrangements, particularly in overseas markets where new products have been well received and fresh opportunities will be available. In this respect a number of the Instrument's agents have indicated a willingness to become a Data partner which, although early days, is likely to bring new benefits. We now believe that we are able to focus on future opportunities to grow the business both organically and via acquisition. With an un-geared liquid Balance Sheet opportunities may arise which will be considered. At the same time there is still work to be done with the core divisions. Clearly, having now returned to profit, maintaining this position is mandatory. Towards year end, we were pleased to receive an extension to the planning consent on our site at Park Road to 2014. Your Board is well aware that shareholders have been without an ordinary dividend for a number of years and although it was not a consideration in the year under review it will be considered at the end of the current year if, as anticipated, a further profitable outcome is seen. I would also like to take this opportunity of thanking all the employees of the Group who without their dedication, loyalty and commitment the results seen would not have been possible. Michael G Burt Executive Chairman 30 October 2009 CONSOLIDATED INCOME STATEMENT FOR THE YEAR ENDED 31 MAY 2009 2009 2008 £000 £000 REVENUE 8,163 9,607 Cost of Sales (4,568) (6,030) -------------------- --------------------- - GROSS PROFIT 3,595 3,577 Other Operating Expenses (2,992) 3,092 ------------------- ------------------- TRADING PROFIT 603 485 Write back of pension deficit - 6,294 ------------------- ------------------- OPERATING PROFIT 603 6,779 Profit on sale of fixed asset 27 87 Reorganisation cost - (479) Gain on cancellation of loan - 402 ------------------- ------------------- 630 6,789 Net interest (1) (5) ------------------- ------------------- Profit on ordinary activities before taxation 629 6,784 Tax credit 18 398 ------------------- ------------------- Profit for the year attributable to the equity 647 7,182 shareholders of the Company ========= ========= PROFIT PER SHARE (pence) Basic and diluted 0.59 9.25 ========= ========= Diluted and diluted 0.55 0.62 ========= ========= Turnover and operating profit are derived from continuing activities. CONSOLIDATED BALANCE SHEET AT 31 MAY 2009 2009 2008 £000 £000 £000 £000 ASSETS Non-current assets Property, plant and equipment 1,577 1,459 Intangible assets 590 668 Deferred tax asset 313 316 ----------------- ----------------- 2,480 2,443 Current assets Inventories 1,334 1,259 Trade receivables 1,699 1,408 Other receivables 223 248 Cash and cash equivalents 269 567 ----------------- ----------------- 3,525 3,482 ----------------- ----------------- Total assets 6,005 5,925 ----------------- ----------------- LIABILITIES Non-current liabilities Deferred tax liabilities 165 187 Current liabilities Trade payables 745 605 Other payables 1,135 1,748 Borrowings - 4 ----------------- ----------------- 1,880 2,357 ----------------- ----------------- Total liabilities 2,045 2,544 ----------------- ----------------- TOTAL NET ASSETS 3,960 3,381 ======== ======== EQUITY Capital and reserves attributable to the Company's equity shareholders Called up share capital 273 273 Share premium account 633 633 Capital reserve 300 300 Retained earnings 2,754 2,175 ----------------- ----------------- TOTAL EQUITY 3,960 3,381 ======== ======== CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MAY 2009 2009 2008 £000 £000 £000 £000 Cash flows from operating activities Profit before tax 629 6,784 Adjustments for: Finance charges - 5 Depreciation and amortisation 511 568 Impairment of intangible fixed - 132 assets Profit on disposal of tangible (27) (87) fixed assets Foreign exchange difference (68) (140) Increase in inventories (75) (80) (Increase)/decrease in trade (291) 91 receivables Decrease/(increase) in other 25 (21) receivables Increase in trade payables 140 82 (Decrease)/increase in other (613) 141 payables Pension contributions paid - (35) Share option charge - 10 Pension written back - (6,294) Loan written back - (403) ----------------- ----------------- (398) (6,031) ----------------- ----------------- Net cash generated in 231 753 operating activities Cash flows from investing activities Interest received - 10 Purchase of tangible fixed (185) (1,453) assets Proceeds from sale of tangible 40 992 fixed assets Purchase of intangible assets (379) (416) ----------------- ----------------- Net cash used in investing (524) (867) activities Cash flows from financing activities Issue of ordinary shares - 1,820 Interest paid (1) (15) Capital element of finance leases and rental payments (4) (12) Payments made to Pension - (1,200) Protection Fund ----------------- ----------------- Net cash (used)/generated from in financing activities (5) 593 ----------------- ----------------- Net (decrease)/increase in 479 cash and cash equivalents (298) Cash and cash equivalents at 567 88 beginning of year ----------------- ----------------- Cash and cash equivalents at 269 567 end of year ======== ======== NOTES TO THE FINANCIAL STATEMENTS 1. The information in this announcement, which was approved by the Board of Directors on 29 October 2009, does not comprise statutory accounts for the years ended 31 May 2008 or 31 May 2009. The statutory accounts for the year ended 31 May 2008 have been delivered to the Registrar of Companies and those for the year ended 31 May 2009 will be delivered to the Registrar of Companies following the Company's Annual General Meeting. The auditors have reported on these accounts, their reports were unqualified and did not contain statements under s.498(2) or (3) of the Companies Act 2006. The information contained in this statement does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. The Report and Accounts will be posted to shareholders on 3 November 2009 and the Annual General Meeting will be held at 11.00 am on 27 November 2009. Copies will be available from the Company at Park Road, Crowborough East Sussex TN6 2QR, England and will be available to download from the Company's website www.feedback.plc.uk. 2. SEGMENTAL REPORTING The turnover, result before taxation and net assets of the Group are attributable to one business segment, the design, manufacture and sale of electronic and computer peripheral equipment for industry and education. Analysis by geographical market Turnover Pre tax (loss)/profit Assets Liabilities Assets Liabilities 2009 2008 2009 2008 2009 2009 2008 2008 £000 £000 £000 £000 £000 £000 £000 £000 Restated Restated Restated By origin United Kingdom 7,197 8,557 307 396 5,556 (1,334) 5,436 (2,483) Continental Europe 314 362 271 150 270 (644) 324 (13) United States 652 688 51 21 179 (67) 165 (48) Exceptional items - - - 6,217 - - - - ----------------- ----------------- ----------------- ----------------- ----------------- ----------------- ----------------- ----------------- 8,163 9,607 629 6,784 6,005 (2,045) 5,925 (2,544) ========= ========= ========= ========= ========= ========= ========= ========= All capital expenditure incurred by the Group was in the United Kingdom. 2009 2008 £000 £000 Turnover by destination £000 £000 United Kingdom 3,119 3,899 Rest of Europe 700 1,545 Americas 929 1,115 Africa 929 172 Middle East 1,257 1,410 Far East 1,229 1,466 ------------------ ------------------ 8,163 9,607 ========= ========= 3. PROFIT PER SHARE Basic earnings per share is calculated by reference to the profit on ordinary activities after taxation of £647,000 (2008: £7,182,000) and on the weighted average of 109,146,746 (2008: 77,628,244) shares in issue. The calculation of diluted earnings per share is based on the profit on ordinary activities after taxation and the diluted weighted average of 109,163,193 (2008: 77,628,244). Adjusted EPS figures based on trading profit have been included for information purposes. The adjusted earnings per share has been calculated by reference to the trading profit of £603,000 (2008: £485,000) and on the weighted average 109,146,746 (2008: 77,628,244) shares in issue. This information is provided by RNS The company news service from the London Stock Exchange END FR FBLFXKBBBFBK More
12-08-09	Feedback PLC - Directorate Change	RNS
RNS Number : 2733X Feedback PLC 12 August 2009 Feedback plc (the "Company") Directorate Change The Board is pleased to announce the appointment of David John Marks, aged 56, as Executive Director of the Company with immediate effect. Mr Marks, has been working with the Group for over 25 years and is currently Managing Director of Feedback Instruments Ltd. During this period he has held a number of senior management appointments. In addition he is also a director of Feedback Data Ltd, Feedback gmbh, Feedback Inc and Source Computers Ltd. Save as disclosed above, there are no further details required to be disclosed pursuant to schedule 2(g) of the AIM rules. 12 August 2009 Enquiries: Feedback Plc `Michael G Burt 01892 653322` Executive Chairman Nominated Adviser & Broker `Charles Stanley Securities 0207 149 6000` Philip Davies / Carl Holmes This information is provided by RNS The company news service from the London Stock Exchange END BOAPBMATMMJBBBL More

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Date/Time	Subject	Author
26-10-07	FDBK SP plunges after news	chupacabra


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	See http://www.proactiveinvestors.co.uk/blog/index.php?entry=entry071025-134009 for details and comment. More \| View thread (1) \| Respond \| Login to Vote up \| Login to Vote down
15-09-07	Re: no change	kooiker


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	Thanks for that - it makes me feel a whole lot better as I bought mine a whole penny cheaper ! Perhaps in another 10 years !!!! More \| View thread (2) \| Respond \| Login to Vote up \| Login to Vote down
15-09-07	no change	TheRiz


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	I thought after 10 years of holding shares in this company, something might have changed. I held them in their prime at £1.35 a share. Where did it all go wrong!!!!! More \| View thread (2) \| Respond \| Login to Vote up \| Login to Vote down
08-06-07	Re: AGM	shemi


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	News of a Corporate Event! Anyone know what is going on here? if anything! cheers More \| View thread (3) \| Respond \| Login to Vote up \| Login to Vote down

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