Business
Audited Annual Report
Audited Annual Report.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n \nRNS Number : 6277Y Sabien Technology Group PLC 07 December 2017 \n\n \nFor immediate release\n7 December 2017\n \nSabien Technology Group plc\n(\"Sabien\" or the \"Company\")\n \nFinal Results\n \nAudited Annual Report and Accounts for the year ended 30 June 2017\n \nSabien Technology Group plc, the manufacturer of M1G and M2G boiler energy efficiency technologies has published its audited report and accounts for the year ended 30 June 2017 (\"Annual Report and Accounts\"). The Annual Report and Accounts have been posted to shareholders and will be available from the Company's website at http://www.sabien-tech.co.uk.\n \nExtracts from the Annual Report and Accounts are set out below.\n \nThis announcement is inside information for the purposes of Article 7 of Regulation 596/20014.\n \nFor further information please contact:\n\n\n\n\n \nSabien Technology Group plc\n\n\n\n\n\n\n\nAlan O'Brien\n\n\n+44(0)20 7993 3700\n\n\n\n\nBeaumont Cornish Limited \nMichael Cornish / Roland Cornish\nwww.beaumontcornish.com\n(Nominated Advisor & Broker)\n\n\n \n+44(0)20 7628 3396\n\n\n\n\n \n \nChairman & Chief Executive Officer's Report\n \nSabien Technology Group highlights 2017\n \n· Sales for the year £0.51m (2016: £0.88m)\n \n· Loss before tax £1.65m (2016: £1.62m loss)\n \n· Sales from Alliance Partners £0.043m (2016: £0.173m)\n \n· Overseas sales £0.198m (2016: £0.107m)\n \n· Fund raises of £1.23m (gross) to fund P40 pilot program, overseas pilot programme and M2G development.\n \n· Net cash balance at 30 June 2017 was £0.026m (2016: £0.24m) \n \n· Sales pipeline of £8.7m at 30 June 2017 (2016: £12.2m) \n \n \nHighlights since the year end\n \n· Sales pipeline at 4 December 2017 standing at c£9.12m\n \n· In July introduced rental payment option and in December received notification of its first significant rental contract with large UK commercial Landlord\n \n· In October introduced 'Forensic Boiler Audit service' designed to identify operatio...