FDBK Feedback Plc

RNS Number:1316W
Feedback PLC
04 March 2004

                                FEEDBACK PLC

                    Announcement of major new Contract
                    Update on Current Year Performance
                    Suspension of Dividend Payments on
            Convertible Redeemable Cumulative Preference Shares


The Board is pleased to announce that the Group's Feedback Instruments
subsidiary has received an order for approximately #3,000,000 to provide
training equipment to the newly opened College of the North Atlantic in Qatar.
The equipment will be delivered in phases over the next three months, commencing
in March 2004, and consequently the majority of the beneficial impact of this
contract will be reflected in the results for the year ending 31 March 2005.


Primarily as a result of the protracted negotiations regarding the Qatar
contract and the poor performance of the Group's subsidiary Teknical Limited,
which was sold in December 2003, the Board now believes that the anticipated
loss for the year will be approximately #1.6 million, which includes a
substantial goodwill adjustment arising on the disposal of Teknical.


The Board believes that this anticipated outcome somewhat obscures the pleasing
performance within Feedback Data which is now beginning to produce increased
profits since the recent restructuring and the associated reduction in costs.
Having also disposed of Teknical, the Directors are confident that the fortunes
of the Group will improve during the next financial year.


The impact of the anticipated loss for the current financial year is such that
the Company will not have sufficient distributable reserves in order to be able
to pay dividends on the 838,049 10 per cent. (net) Convertible Redeemable
Cumulative Preference Shares for the foreseeable future, including the dividend
payment due on 31 March 2004.  The unpaid preference dividends will accrue as
prescribed in the Articles of Association of the Company.



4March 2004


Enquiries:


David Sawyer
Group Managing Director
Feedback plc
01892 653322


Philip Davies
Charles Stanley & Co. Limited
020 7953 2000




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

MSCSSIFSLSLSEED

Feedback (LSE:FDBK)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Feedback (LSE:FDBK)
Historical Stock Chart
Von Jul 2023 bis Jul 2024