19th Feb 2014 13:35
LONDON (Alliance News) - Feedback PLC Wednesday said it narrowed if losses in the first-half but remained confident that it could move forward with potential projects in the technology sector.
The company, which invests in the technology sector, posted pretax losses of GBP122,000 for the period ended November 30 2013, compared with losses of GBP319,000 a year earlier.
Feedback said the loss represents the costs of maintaining the company's listing on AIM and activities related to implementing the Investing Policy.
The firm posted no revenue for the period compared with revenue of GBP976,000 a year earlier.
At the end of the period the net tangible assets of the company stood at GBP625,000. These net assets include the proceeds from the disposal of the company's freehold property, it added.
"The board believes that the company's cash reserve is sufficient to meet its immediate requirements and also to pursue the company's Investing Policy," it said.
The stock was trading at 1.10 pence Wednesday, up 0.05 pence or 4.8%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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