Energy efficiency technology manufacturer Sabien Technology Group’s sales rose 258 per cent in the first six months of the current financial year to close to £1.13m as it retired its losses from the previous six months.
With pre-tax profits totalling £185,000 and a sales pipeline that has nearly doubled since November, the AIM-listed manufacturer is confident of a healthy outlook in 2011.
Sabien’s sales pipeline now stands at £5.7m, with £278,000 in orders secured since January. It ended the first half of fiscal 2011 with £912,000 in cash, representing a slight dip from £965,000 in mid-2010.
With pre-tax profits showing improvement on a pre-tax loss of £213,000 in the previous six months, Sabien said it is ‘well placed’ for continued growth in the second half of this year.
The company reported continuing demand for its M2G technology from public sector organisations and blue chip companies, boasting orders from Lloyds Banking Group and British Telecommunications.
‘This has been another period of solid progress for the group, with a move to profit from our operations,’ said Sabien CEO Alan O’Brien.
‘The scale of improvement particularly for this period coupled with the consistency of project management has been duly noted by our clients and partners.’
While the company said it will focus on furthering growth this year, its strategy looks to remain centred on its existing technology, based on its strong order pipeline.
O’Brien said, ‘And although general economic conditions remain challenging, the focus continues to be on M2G technical sales through our established channels along with careful management of costs and working capital.’
Copyright © 2011 NewNet
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