TIDMFDBK
RNS Number : 2120V
Feedback PLC
29 October 2010
FEEDBACK PLC (the "Group")
PRELIMINARY RESULTS FOR THE YEAR ENDED 31 MAY 2010
EXECUTIVE CHAIRMAN'S STATEMENT
For the year ending 31 May 2010 Group Trading Profit declined from a profit of
GBP603k to a loss of GBP254k. This was on the back of a 8.8% decline in group
turnover from GBP8.2m to GBP7.4m. The reduction in turnover was across the
group, although Feedback Instruments in particular experienced a significant
reduction in export orders other than to the US.
Group operating expenses advanced some 10% from GBP3.0m to GBP3.3m; this was due
to a number of one-off investments made during the period including our
corporate re-branding, web site design and implementation. In addition, the new
Group IT system gave rise to a number of commissioning issues which proved both
time consuming and costly to solve. Decisive steps have now been taken to
address these problems which should greatly facilitate a smoother operation and
the benefits should be seen over the next few months although, some additional
costs, already budgeted, will be incurred in the current year.
Despite the adverse trading situation working capital was strictly controlled
although IT issues caused year end stocks to be higher than budgeted. Cash
balances declined but the Group continues to operate without recourse to its
working capital banking lines and both its liquidity and working capital ratios
still remain strong.
During the year development expenditure in both companies remained at a high
level. Significant additional funds were committed to the new web site and a
complete corporate rebranding. All these costs were expensed in the year. The
web site is now in operation and has received favourable comment from both
customers and suppliers alike.
Current trading in Feedback Instruments continues to be weak however Feedback
Inc and Feedback Data are currently seeing activity at higher levels and in line
with budget and management's expectations. As a result the Company has continued
to reduce costs and staff numbers to reflect current levels of activity. Since
May 2009 the Group has reduced total staff numbers from 77 to 71.
Feedback Instruments Ltd
Feedback Instruments had a difficult year in terms of trading following the
world wide trend of project delays. This resulted in a lower than anticipated
turnover for both the UK and export markets, however, some countries performed
well in the early part of the year such as Libya and India, with the latter
continuing to produce monthly repeat business.
The business continued to restructure during the year so as to increase its
operational efficiency and its standing in the world wide market. The brand name
remains strong and is associated with providing a high quality product to
Universities, Colleges and Schools. The recent re-branding of the company will
assist in reinforcing its position.
As part of our continuing support of our overseas agents we held a Conference at
the East Sussex National Conference Centre which was well attended by
representatives from over 50 countries. Five new products were demonstrated and
released as well as presentations of some of our more established products. This
gave an opportunity to demonstrate the breadth and strength of our product
range.
We continued to invest significant sums in the development of new products not
only to add and expand our existing ranges but also to support new partner
agreements where our products extend and complement their supply channels.
As part of our ongoing investment in development we have recruited additional
development engineers. This has allowed us to form a specialised group to focus
on a new range of products for the renewable energy sector to complement our own
efforts. In this regard we are also working in a collaborative agreement with a
leading UK academic partner. Further partnership arrangements are under
discussion.
Feedback is the UK representative of PASCO. This is an important partnership,
and we have focused particular efforts during the year on restructuring the
sales of PASCO products into the UK School and University markets. PASCO have
been very supportive to this effort and we have been able to increase our
penetration into an increasing number of the UK's 5000 schools, whilst also
attracting potential business from over 100 Universities.
Feedback Incorporated
Feedback Inc continues to demonstrate growth and stability providing above
expected revenues and profit for the year. Both turnover and profit increased by
over 20% and with the release of key new products to the market this is expected
to be maintained.
Improvements were implemented to the agent network throughout the year which
increased our sales coverage and product knowledge; this now show signs for
increased potential for the future. New partnerships were formed whilst others
reviewed, which will also provide increased stability for the operation.
Feedback Inc attended the successful ASEE exhibition in Austin, Texas during
June 2009. This provided an opportunity not only to meet with new and existing
customers but also our US sales team who were active on the stand.
As new products are released to the US market further sales and training visits
will be made so as to support the continuing growth of the business.
Feedback Data Ltd
Feedback Data had a difficult year with reduced activity in its customer base,
whether end user or Value Added Reseller (VAR), with delays, deferrals and
cancellation of a number of orders. The forthcoming Government austerity
measures are expected to aggravate the situation for the company's public sector
customers.
At the same time capital spend on new products continued at a high level with
commercial launch only now being seen. Exports also suffered severely and in
order to provide better cohesion and support to the export effort Feedback gmbh
was re-organised with the intention that all future VAR sales would be made as
direct exports of Feedback Data. In support of our export strategy and following
our attendance at CeBIT in March this year we attracted new dealer interest.
For the first time we gained a new VAR specifically focusing on supplying HR
Management Solutions using our new Nohmad terminal for the Northern European
market.
New markets continue to be identified and the first significant access control
order has recently been shipped to a customer in the Middle East through a
company specialising in security management systems. Substantial future
business in this area is expected. A complementary low cost product has been
identified that will enable us to take a simple access control system into new
markets that have traditionally been out of reach due to cost. It is intended
that this product will be sold through our new web site.
The decision was taken earlier in the year to re-enter the direct end user
access control market and a new sales team was recruited. We are now seeing
signs of success as customers recognise the benefits of dealing with a
manufacturer as a full service provider able to fulfil their requirements with a
modular product that meets their needs whether it be integrated access control,
visitor management, barrier or car park control, turnstiles etc. Our Access
Control product 'Evolution' uses the latest technologies and is supported by a
team of in house experienced engineers providing full maintenance and customer
support.
Current Trading and Future Prospects
The year under review was disappointing particularly since order intake at the
commencement of the period had shown good strength particularly in Feedback
Instruments. The nature of Feedback Instruments business, particularly in the
export markets is that the gestation period between opportunity, quote and order
can be many months if not in some cases a couple of years away from inception to
shipment.
Feedback Instruments' overseas sales usually account for some 50% of their
annual turnover and our products are found in more than 100 countries. Many of
these countries are in the developing world and their funding is secured from
world or intra governmental funding programmes. Much of the business we
anticipate receiving in the current trading period is already secured at the
local level by our agents or distributors. The timing of receipt of order
together with security of payment is often what can cause delays whilst the
contract itself proceeds through the various state or government departments
securing authorisation on its way. This process is well known to us but from
time to time leads to a backlog of lumping of orders which are not predictable.
It is this environment that we currently face.
In the UK, Feedback Instruments sales have been well supported and we continue
to look at new initiatives to offer to this market whether it is our product or
third party. We are now covering the University, College and Schools market with
product ranges that meet the student's needs in the scientific arena. We have
recently launched a range of PASCO products into the University market which has
been well received. With most of Feedback's educational products we offer
industry leading tuition manuals both for the tutor and the student enabling the
student to gain familiarity on the particular subject that he is being taught in
a hands on environment.
We have recently entered into a number of new partnerships with other leading
manufacturers of educational products both in the UK and overseas with the
intention of broadening our offering to our customers and distributors. We will
in the current year be launching a number of new products including products in
the renewable energy area.
Current trading in Feedback Data is much improved, both in the Time and
Attendance market and in Access Control where our new sales team have secured a
number of significant contracts. Additionally, the Access Control product has
been re-structured to be more competitive within our market place and is now
accompanied with new promotional material and increased presence on our web
site. Development is on schedule to release the new stand alone access product
which will be available directly from the web site through its new e-commerce
facility.
Within the Feedback Data business we have for some time offered a full range of
products in the security area. These products such as turnstiles, gates, fencing
etc are not made by Feedback but by carefully selected suppliers. This extension
to our core products offering has now been repackaged and we are seeing some
early benefit from this market re-positioning.
Expansion of current access control sites remains strong showing the customer's
satisfaction of the product. Reacting to requests for upgrades support and
maintenance assists in providing a complete solution to the client.
We are now offering a number of products in the Nohmad range. The Nohmad is a
low cost GPRS time and attendance solution particularly designed to satisfy the
low cost end user market. A number of our suppliers are enthusiastically
promoting the product and we are hopeful of some significant contract wins in
the current year.
Demand for Feedback terminals in the Time and Attendance market is currently
meeting budget expectations as companies demand increased information on working
times. The new TS2020 terminal has been designed specifically for this market
will be released in the current year and is intended as a replacement to the
current terminal range. The range will offer a number of models and at the lower
end is designed to compete on price and specification with foreign imports. This
should further enhance our standing as a leading terminal producer.
In a disappointing year I would like to thank all our employees for their
commitment, dedication and loyalty.
Michael G Burt
Executive Chairman
Enquiries:
Michael Burt 01892 653 322
(Executive Chairman)
Feedback plc
Russell Cook / Carl Holmes 020 7149 6000
Charles Stanley Securities
(Nominated Adviser & Broker)
CONSOLIDATED INCOME STATEMENT
FOR THE YEAR ENDED 31 MAY 2010
+-------------------------------------+------------------+--------------------+
| | 2010 | 2009 |
+-------------------------------------+------------------+--------------------+
| | GBP000 | GBP000 |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| REVENUE | 7,443 | 8,163 |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| Cost of Sales | (4,392) | (4,568) |
+-------------------------------------+------------------+--------------------+
| | --------------- | ---------------- |
+-------------------------------------+------------------+--------------------+
| GROSS PROFIT | 3,051 | 3,595 |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| Other Operating Expenses | (3,305) | (2,992) |
+-------------------------------------+------------------+--------------------+
| | ---------------- | ---------------- |
+-------------------------------------+------------------+--------------------+
| OPERATING (LOSS)/PROFIT | (254) | 603 |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| Profit on sale of fixed asset | - | 27 |
+-------------------------------------+------------------+--------------------+
| | --------------- | ---------------- |
+-------------------------------------+------------------+--------------------+
| | (254) | 630 |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| Net interest | 4 | (1) |
+-------------------------------------+------------------+--------------------+
| | ---------------- | --------------- |
+-------------------------------------+------------------+--------------------+
| (Loss)/profit on ordinary | (250) | 629 |
| activities before taxation | | |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| Tax (charge)/credit | (191) | 18 |
+-------------------------------------+------------------+--------------------+
| | --------------- | ---------------- |
+-------------------------------------+------------------+--------------------+
| (Loss)/Profit for the year | | |
| attributable to the equity | (441) | 647 |
| shareholders of the Company | | |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| Other comprehensive | | |
| income/(expense) | | |
+-------------------------------------+------------------+--------------------+
| Translation differences on overseas | 28 | (68) |
| operations | | |
+-------------------------------------+------------------+--------------------+
| | --------------- | ------------------ |
+-------------------------------------+------------------+--------------------+
| Total comprehensive | (413) | 579 |
| (expense)/income for the year | | |
+-------------------------------------+------------------+--------------------+
| | ======= | ======= |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| (LOSS)/PROFIT PER SHARE (pence) | | |
+-------------------------------------+------------------+--------------------+
| | | |
+-------------------------------------+------------------+--------------------+
| Basic and diluted | (0.40) | 0.59 |
+-------------------------------------+------------------+--------------------+
| | ====== | ====== |
+-------------------------------------+------------------+--------------------+
Turnover and operating profit are derived from continuing activities.
CONSOLIDATED BALANCE SHEET
AT 31 MAY 2010
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | 2010 | 2009 |
+--------------------------+-------------------------------------+-------------------------------------+
| | GBP000 | GBP000 | GBP000 | GBP000 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| ASSETS | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Non-current assets | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Property, plant and | | 1,603 | | 1,577 |
| equipment | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Intangible assets | | 733 | | 590 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Deferred tax asset | | 156 | | 313 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | -------------- | | -------------- |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | 2,492 | | 2,480 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Current assets | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Inventories | 1,300 | | 1,334 | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Trade receivables | 1,578 | | 1,699 | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Other receivables | 176 | | 223 | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Cash and cash | 25 | | 269 | |
| equivalents | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | ----------------- | | ----------------- | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | 3,079 | | 3,525 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | --------------- | | -------------- |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Total assets | | 5,571 | | 6,005 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | -------------- | | -------------- |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| LIABILITIES | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Non-current liabilities | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Deferred tax liabilities | | 199 | | 165 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Current liabilities | | | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Trade payables | 959 | | 745 | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Other payables | 866 | | 1,135 | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | -------------- | | --------------- | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | 1,825 | | 1,880 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | -------------- | | -------------- |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| Total liabilities | | 2,024 | | 2,045 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | -------------- | | --------------- |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| TOTAL NET ASSETS | | 3,547 | | 3,960 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | ====== | | ====== |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| 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 | | 2,341 | | 2,754 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | -------------- | | --------------- |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| TOTAL EQUITY | | 3,547 | | 3,960 |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | ====== | | ====== |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
| | | |
+--------------------------+-------------------+-----------------+-------------------+-----------------+
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MAY 2010
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | 2010 | 2009 |
+------------------------------+---------------------------------------+---------------------------------------+
| | GBP000 | GBP000 | GBP000 | GBP000 |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Cash flows from operating | | | | |
| activities | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| (Loss)/profit before tax | | (250) | | 629 |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Adjustments for: | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Net finance expenditure | (4) | | - | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Depreciation and | 439 | | 511 | |
| amortisation | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Profit on disposal of | - | | (27) | |
| tangible fixed assets | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Foreign exchange difference | 28 | | (68) | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Decrease/(increase) in | 34 | | (75) | |
| inventories | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Decrease/(increase) in trade | 130 | | (291) | |
| receivables | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Decrease in other | 53 | | 25 | |
| receivables | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Increase in trade payables | 214 | | 140 | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| (Decrease) in other payables | (284) | | (613) | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | ----------------- | | ----------------- | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | | 610 | | (398) |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | | ------------- | | ------------- |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Net cash generated in | | 360 | | 231 |
| operating activities | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Cash flows from investing | | | | |
| activities | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Interest received | 5 | | - | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Purchase of tangible fixed | (122) | | (185) | |
| assets | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Proceeds from sale of | - | | 40 | |
| tangible fixed assets | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Purchase of intangible | (486) | | (379) | |
| assets | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | ----------------- | | ----------------- | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Net cash used in investing | | (603) | | (524) |
| activities | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Cash flows from financing | | | | |
| activities | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Issue of ordinary shares | - | | - | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Interest paid | (1) | | (1) | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Capital element of finance | - | | (4) | |
| leases and rental payments | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | ----------------- | | ----------------- | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Net cash used from financing | | (1) | | (5) |
| activities | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | | ----------------- | | ----------------- |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Net decrease in cash and | | (244) | | (298) |
| cash equivalents | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Cash and cash equivalents at | | 269 | | 567 |
| beginning of year | | | | |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| | | ----------------- | | ----------------- |
+------------------------------+-------------------+-------------------+-------------------+-------------------+
| Cash and cash equivalents at | | 25 | | 269 |
| 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 2010, does not comprise statutory accounts for the
years ended 31 May 2009 or 31 May 2010. The statutory accounts for the year
ended 31 May 2009 have been delivered to the Registrar of Companies and those
for the year ended 31 May 2010 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 5 November 2010 and
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. The Annual General Meeting will be held at 11.00 am on 29
November 2010 at the offices of Lawrence Graham LLP (4 More London Riverside,
London, SE1 2AU).
2. SEGMENTAL REPORTING
The directors have determined the operating segments based on the management
reports that are used to make strategic decisions. The Group's business is
analysed below between the Instruments segment and the Data segment. The
Instruments segment primarily relates to the subsidiary companies Feedback
Instruments Limited and Feedback Incorporated. The Data segment primarily
relates to the subsidiary company Feedback Data Limited and Feedback Data GmbH.
Details of these companies are included in the Directors' Report.
+----------------+--------+---------------+--------+-------------+--------+-------------+--------+-------------+
| Year ended 31 | | |
| May 2010 | | |
+----------------+-----------------------------------------------+---------------------------------------------+
| | Instruments | Data | Other | Total |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | GBP | GBP | GBP | GBP |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Revenue | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| External | 5,828 | 1,615 | - | 7,443 |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ----------- | ----------- | ----------- | ----------- |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Finance | - | - | 1 | 1 |
| expense | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ----------- | ----------- | ----------- | ----------- |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Profit/(loss) | (53) | (233) | 36 | (250) |
| before tax | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ====== | ====== | ====== | ====== |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Balance sheet | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Assets | 2,249 | 991 | 5,219 | 8,459 |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Liabilities | (3,019) | (999) | (1,612) | (5,630) |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ----------- | ----------- | ------------- | ------------- |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | (770) | (8) | 3,607 | 2,829 |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ====== | ====== | ====== | ====== |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Capital | 10 | 21 | 90 | 121 |
| expenditure | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ====== | ====== | ====== | ====== |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Year ended 31 | | | | |
| May 2009 | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | Instruments | Data | Other | Total |
+-------------------------+---------------+-------------------------------+----------------------+-------------+
| | GBP | GBP | GBP | GBP |
+-------------------------+---------------+-------------------------------+----------------------+-------------+
| Revenue | | | | |
+-------------------------+---------------+-------------------------------+----------------------+-------------+
| External | 6,204 | 1,959 | - | 8,163 |
+-------------------------+---------------+-------------------------------+----------------------+-------------+
| | ------------- | ----------- | ----------- | ----------- |
+-------------------------+---------------+-------------------------------+----------------------+-------------+
| | | | | |
+-------------------------+---------------+-------------------------------+----------------------+-------------+
| Finance | - | - | 1 | 1 |
| expense | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ------------- | ----------- | ----------- | ----------- |
+-------------------------+---------------+-------------------------------+-------------+----------------------+
| | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Profit/(loss) | 343 | 615 | (329) | 629 |
| before tax | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ====== | ====== | ====== | ====== |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Balance sheet | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Assets | 2,895 | 1,677 | 5,345 | 9,917 |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Liabilities | (3,532) | (1,102) | (1,644) | (6,278) |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ----------- | ----------- | ----------- | ----------- |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | (637) | 575 | 3,701 | 3,639 |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ====== | ====== | ====== | ====== |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| Capital | 19 | 10 | 156 | 185 |
| expenditure | | | | |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | ====== | ====== | ====== | ====== |
+----------------+---------------------------------+-------------+----------------------+----------------------+
| | | | | |
+----------------+--------+---------------+--------+-------------+--------+-------------+--------+-------------+
Reported segments' assets are reconciled to total assets as follows:
+--------------------------------------------+---------------+---------------+
| | 2010 | 2009 |
+--------------------------------------------+---------------+---------------+
| | GBP000 | GBP000 |
+--------------------------------------------+---------------+---------------+
| | | |
+--------------------------------------------+---------------+---------------+
| Segment assets for reportable segments | 8,459 | 9,917 |
+--------------------------------------------+---------------+---------------+
| | | |
+--------------------------------------------+---------------+---------------+
| Unallocated: | | |
+--------------------------------------------+---------------+---------------+
| Inter-company receivables adjustment | (3,340) | (4,175) |
+--------------------------------------------+---------------+---------------+
| Intangible assets | 733 | 590 |
+--------------------------------------------+---------------+---------------+
| Investments | (281) | (327) |
+--------------------------------------------+---------------+---------------+
| | ------------- | ------------- |
+--------------------------------------------+---------------+---------------+
| Total assets per the balance sheet | 5,571 | 6,005 |
+--------------------------------------------+---------------+---------------+
| | ====== | ====== |
+--------------------------------------------+---------------+---------------+
Reported segments' liabilities are reconciled to total liabilities as follows:
+--------------------------------------------+--------------+---------------+
| | 2010 | 2009 |
+--------------------------------------------+--------------+---------------+
| | GBP000 | GBP000 |
+--------------------------------------------+--------------+---------------+
| | | |
+--------------------------------------------+--------------+---------------+
| Segment liabilities for reportable | 5,630 | 6,278 |
| segments | | |
+--------------------------------------------+--------------+---------------+
| | | |
+--------------------------------------------+--------------+---------------+
| Inter-company payables adjustment | (3,805) | (4,398) |
+--------------------------------------------+--------------+---------------+
| Deferred tax | 199 | 165 |
+--------------------------------------------+--------------+---------------+
| | ------------ | ------------- |
+--------------------------------------------+--------------+---------------+
| Total liabilities per the balance sheet | 2,024 | 2,045 |
+--------------------------------------------+--------------+---------------+
| | ====== | ====== |
+--------------------------------------------+--------------+---------------+
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| | External revenue by | Total assets by | Capital expenditure |
| | | | by |
+-------------------------+-------------------------------+---------------------------+---------------------------+
| | location of customer | location of assets | location of assets |
+-------------------------+-------------------------------+---------------------------+---------------------------+
| | 2010 | 2009 | 2010 | 2009 | 2010 | 2009 |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 | GBP000 |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| | | | | | | |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| United Kingdom | 2,841 | 3,119 | 5,181 | 5,556 | 117 | 185 |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| Rest of Europe | 1,245 | 700 | 135 | 270 | - | - |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| United States of | 815 | 652 | 255 | 179 | 4 | - |
| America | | | | | | |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| Other Americas | 47 | 277 | - | - | - | - |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| Asia | 1,322 | 1,229 | - | - | - | - |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| Africa | 446 | 929 | - | - | - | - |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| Middle East | 727 | 1,257 | - | - | - | - |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| | ------------- | ------------- | ----------- | ----------- | ----------- | ----------- |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| Total | 7,443 | 8,163 | 5,571 | 6,005 | 121 | 185 |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
| | ====== | ====== | ====== | ====== | ====== | ====== |
+-------------------------+---------------+---------------+-------------+-------------+-------------+-------------+
3. PROFIT PER SHARE
Basic earnings per share is calculated by reference to the loss on ordinary
activities after taxation of GBP441,000 (2009: profit GBP647,000) and on the
weighted average of 109,146,746 (2009; 109,146,746) shares in issue.
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR QVLFLBBFLFBF
Feedback (LSE:FDBK)
Historical Stock Chart
From Jun 2024 to Jul 2024
Feedback (LSE:FDBK)
Historical Stock Chart
From Jul 2023 to Jul 2024