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Fidelity Systems PLC (FID)

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Friday 07 October, 2011

Fidelity Systems PLC

Half-yearly Report - Amended to include balance...


                             FIDELITY SYSTEMS PLC                              

            INTERIM RESULTS FOR THE SIX MONTHS TO 31ST AUGUST 2011             

I am pleased to be able to report further growth resulting in a significant
increase in profit during the first half of the financial year to 31st August
2011.

BRIEF FINANCIAL RESULTS

Pre-tax profits increased to GBP 249,976 from the previous periods GBP 178,033,
an increase of 40.41%. Gross profit margins rose to 69.5% compared to 64.5% for
the previous period, an increase of 7.75%. Turnover was GBP 948,884, compared
to the previous year's GBP 964,365

Earnings per share have increased to 0.83p from last year's 0.59p

OPERATING REVIEW

Demand for Fidelity's products remains healthy and the first half of our
financial year has seen many diverse new customers added to our existing user
base. These have been a mix of both education, leisure and commercial sector
clients. By tradition the summer has always been our busy time for University
installations and this year has been no exception. We now supply and support a
total of eighty Universities and colleges in the UK and continue to work with
them, supplying both new equipment and upgrading existing hardware and
software. We have had two large UK installations in the holiday park sector
plus a third in the visitor attraction sector in the R.O.I. In addition we have
also taken an order for a large corporate catering system at the headquarters
of a national bank in the North of England.

Development work on the RFID health and safety product is now completed and
already two installations have taken place together with two further pilot
sites with clients evaluating the system. I look forward to reporting more on
the RFID project in the near future.

OUTLOOK

Fidelity will as always, strive to increase our market penetration in all
areas, improve our existing products and develop cutting edge new ones.

Paul Lowsley
Chairman
21st September 2011

OPERATING PROFIT & NET PROFIT

                                         Half Year       Half Year

                                          31.08.11       31.08.10

                                          unaudited      unaudited

                                            GBP            GBP

Turnover                                  948,884        964,365

Cost of Sales                             289,053        342,736

Gross Profit                       (69.5%)659,831 (64.5%)621,629

Administration Expenses                   415,594        448,684

Operating Profit / Loss                   244,237        172,945

Interest Receivable                         5,739          5,088

Profit / Loss on ordinary activities      249,976        178,033

Earnings per share                           0.83           0.59



CONSOLIDATED BALANCE SHEET

                                         Half Year      Half Year

                                          31.08.11      31.08.10

                                          unaudited     unaudited

                                            GBP            GBP

Fixed assets                              311,762        306,144

Current assets                          1,657,762      1,499,342

Curent liabilities                        253,568        246,349

Net current assets                      1,403,476      1,252,993

Total assets less current liabilities   1,715,238      1,559,137

Creditors: amounts due after more than one year

Provisions for liabilities and charges      6,361          6,104

Net assets                              1,708,877      1,553,033

Capital and reserves

Called up share capital                 3,094,027      3,094,027

Share premium account                     651,301        651,301

Other reserves                         -2,494,050     -2,494,050

Profit and loss                           457,599        301,755

Equity shareholders funds               1,708,877      1,553,033

The interim accounts and comparative figures have been prepared on a basis of
accounting policies consistent with those used in the Group's audited accounts
for the year ended 28th February 2011. The financial results have not been
audited but have been reviewed by the auditors


The Directors of Fidelity Systems plc accept responsibility for this announcement
                                                                                                                                                                                                                                                             

a d v e r t i s e m e n t