Business
Unaudited Interim Results to 31 December 2017
Unaudited Interim Results to 31 December 2017.
About this update from Sabien Technology Group Plc
[{"type":"text","content":"\n \nRNS Number : 5018D Sabien Technology Group PLC 31 January 2018 \n\nFor immediate release\n31 January 2018\nSabien Technology Group Plc\n(\"Sabien\", the \"Company\" or the \"Group\")\n \nUnaudited Interim Results for the six months ended 31 December 2017\n \nSabien Technology Group plc (AIM: SNT), the manufacturer of the patented M2G energy saving devices, announces its unaudited interim results for the six month period ended 31 December 2017 (the \"Period\") (comparatives are shown for the comparable period in the previous year unless otherwise stated):\n \nHighlights in the Period\n \n· Sales revenue £462k (2016: £298k) \n \n· Sales orders received £225k (2016: £313k)\n \n· Loss before tax £233k (2016: - £826k loss)\n \n· Net cash at the end of the period £133k (£240k as at 31 December 2016)\n \n· Sales pipeline of £10.1m at 30 January 2018\n \n· Overseas sales £171k (2016: £166k) \n \nCurrent trading and outlook \n \nThe Board has continued to manage the Group's working capital tightly during the Period, and the cost reduction policy implemented during 2017 has been effective in reducing the operating loss in the Period to £233k compared to £826k in the comparable six month period ended 31 December 2016. \n \nThe Board is still targeting monthly breakeven by December 2018, although the Group will continue to need to raise additional equity funding to provide further working capital. The Group plans to raise additional equity funding during the first quarter of 2018 and the Chairman, Bruce Gordon, has re-confirmed his intention to subscribe for £100,000 of new ordinary shares in such a funding as and when it proceeds.\n \nThe Board continues to focus its efforts on returning the Group towards profitability and remains frustrated by the unpredictability of conversion of the sales pipeline into sales orders, with disappointing sales for the period under review, albeit improved compared to the comparable period in...