Search
Regulatory Story
Company Sabien Technology Group PLC
TIDM SNT
Headline New contract award and trading update
Released 13:46 11-Jun-2019
Number 8570B13

RNS Number : 8570B
Sabien Technology Group PLC
11 June 2019
 

For immediate release

11 June 2019

 

Sabien Technology Group plc

("Sabien" or "the Company")

New contract award and trading update

 

The 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.

 

The 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.

 

The 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.

 

The 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.  

 

Sabien 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.

 

This 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.

 

For further information:

Sabien Technology Group plc   

Alan O'Brien      

+44(0)20 7993 3700

Beaumont Cornish Limited (Nominated Advisor)

Michael Cornish and Roland Cornish     

www.beaumontcornish.com

+44(0)20 7628 3396

Peterhouse Capital Limited (Broker)

Martin Lampshire and Fungai Ndoro

+44(0)20 7469 0930

 

ENDS


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
MSCLLFSFRSILLIA
London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.