Business
Preliminary Results - 12 mont
Preliminary Results - 12 mont.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n RNS Number : 4676B Sabien Technology Group PLC 28 October 2009 \n \n28 October 2009\n\nSabien Technology Group Plc\n(\"Sabien') \n\nPreliminary results for the 12 months ended 30 June 2009\n\nSabien (AIM: SNT) announces its preliminary results for the year ended 30 June 2009.\n\nSabien is focused on the manufacture and sale of M2G and M3G energy saving devices which are proven to reduce energy consumption on commercial boilers and air conditioning units by up to 35%.\n\nKey Points:\n\nDuring the year:\n\n\nContinuing implementation of Project 10\n\n\n£188k order from Aviva\n\n\nOrders from public sector including Department of Communities and Local Government, Keele University, South Derby District Council, Bradford City Council, Environment Agency and National Archives\n\n\nOrders from private sector including Aviva, Virgin Media, Marriott Hotels and Vodafone\n\n\nReceived UL approval for M2G for sale in the USA \n\n\n£100k order from US distributor\n\n\n\nHighlights since the year end:\n\n\nReceived first order from British Telecom for £118k\n\n\nOrders received from Marriott Hotels, Lubrizol, Keele University, RAF, Vodafone, Aston University and NHS\n\n\nAlliance Agreements for the distribution of M2G entered into with Jones Lang LaSalle, Serco, Balfour Beatty, British Gas\n\n\nCurrent prospective pipeline stands at 3,000 units\n\n\n£1.475 million raised through equity placing and all external debt repaid\n\n\n\nFor further information:\n\n\n\n\n\nSabien Technology Group plc\nAlan O'Brien - Chief Executive Officer\nGus Orchard - Finance Director\n\n\n\n020 7993 3700\n\n\n\n\nArbuthnot Securities (NOMAD)\nAntonio Bossi\n\n\n020 7012 2000\n\n\n\n\n\n\nCHAIRMAN'S STATEMENT\n \nI am pleased to report on the results for Sabien Technology Group Plc (\"Sabien\", \"the Company\" or \"the Group\") for the year ended 30 June 2009.\n\nMarket development\n\nSabien was set up in 2004 to commercialise M2G, an energy saving technology which reduces gas consumption in commercial boilers. In March 2009, Sabien obtained Underwriters Laboratories (UL) approval to sell M2G in the USA.\n\nThe opportunities for Sabien continue to be positive with increasing legislation, in particular the Carbon Reduction Commitment in the UK which becomes effective on 1 April 2010, volatile energy prices and commitm...