Business
Post close trading update
Post close trading update.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n \nRNS Number : 6588L Sabien Technology Group PLC 08 July 2014 \n \n\nSabien Technology Group plc\n(\"Sabien\" or the \"Company\")\nPost Close Trading Update\nIn line with the trading update issued on 29 May 2014, the Board of Sabien (AIM: SNT), the manufacturer and supplier of M2G, an energy efficiency technology, expects that the Company will report a loss before tax of no more than c.£0.3m in the financial year to 30 June 2014 (2013 £0.4m profit) on revenues of £2.13m (2013 £2.47m).\nAs indicated in the May update, the shortfall in revenue relative to earlier management expectations was due to a delay in the receipt of some substantial customer orders that were expected to be received in the second half of the financial year but which are now expected in the financial year to 30 June 2015.\nThe sales pipeline currently stands at £5.8m which compares with £5.8m at the time of the May trading update and £4.6m as at 30 June 2013. \nThe Company's net cash position at 30 June 2014 of £1.42m (2013 £1.36m) remains strong despite the expected loss for the year.\nThe Board believes that Sabien has sufficient capital and resources to execute its business plan and deliver the anticipated growth in the years ahead. The Board expects to be in a position to continue with its progressive dividend policy following the maiden dividend announced in 2013. \nWe expect to announce our full year results ending 30 June 2014 during the week commencing 6 October 2014.\n \nFor further information:\n \nSabien Technology Group plc\nAlan O'Brien, CEO Tel: +44 (0)20 7993 3700 \nGus Orchard, CFO www.sabien-tech.co.uk\n \nWesthouse Securities\nAntonio Bossi &...