Feedback, which makes hardware, software and internet-based products for use in educational and industrial training, saw its shares fall yet further after another set of disappointing results. Its interim figures showed losses increasing 47% to £516,100 for the six months to 30 September, on turnover down 12% to £4.1m. The company blames this abject performance on the torrid condition of the UK manufacturing industry and current turbulent world markets, and has implemented limited staff reductions that should save £250,000 per year. As ever, it says that 'prospects and quotation levels remain very positive', though cautioning about the timing of potential business. Some sort of remedial action looks essential in the short- to medium-term, although net assets of £3.8m (significantly above the market value and seemingly including little in the way of intangibles), makes this firm look like a classic takeover/break-up candidate or recovery play.