Business
New contract award and trading update
New contract award and trading update.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n \nRNS Number : 8570B Sabien Technology Group PLC 11 June 2019 \n\nFor immediate release\n11 June 2019\n \nSabien Technology Group plc\n(\"Sabien\" or \"the Company\")\nNew contract award and trading update\n \nThe Board of Sabien Technology Group plc (AIM: SNT), the manufacturer and supplier of M2G, an energy efficiency technology, announces that the Company has been awarded a new contract worth £78,475 by a leading UK energy and services group for the installation of M2G across the estate of one of its County Council clients.\n \nThe Company has also signed a two-year framework agreement (with an option to extend for a further year) with this same energy services company for the supply and installation of its M2G technology. The Board will update the market as and when further orders become material.\n \nThe Board is also pleased to announce that it currently expects to report revenues for the year-ended 30 June 2019 (the \"Period\") of approximately £1.2 million (2018: £0.51 million) and a small profit before taxation (2018: loss of £1.65 million). Net cash amounted to approximately £0.89m as at 7 June 2019.\n \nThe cost reduction policy implemented during 2018 and the receipt of some significant sales orders during the Period contributed to the Company's much improved financial performance. The Company expects to report its full year results for the year ended 30 June 2019 in October 2019. \n \nSabien continues to work diligently to bring the near-term pipeline into reported revenue, although as previously reported, the conversion of the sales pipeline into sales orders remains unpredictable.\n \nThis announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No 596/2014 (\"MAR\"). The person who arranged for the release of this announcement on behalf of the Company was Alan O'Brien, CEO and Director.\n \nFor further information:\n\n\n\nSabien Technology Group plc \nAlan O'Brien \n\n\n+44(0)20 7993 3700\n\n\n\n\nBeaumont Cornish Limited (Nominated Advisor)\nMichael Cornish and Roland Cornish \nwww.beaumontcornish.com\n\n\n+44(0)20 7628 3396\n\n\n\n\nPeterhouse Capital Limited (Broker)\nMartin Lampshire and Fungai Ndoro\n\n\n+44(0)20 7469 0930\n\...