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Sabien Technology Group PLC - energy reduction technologies company based in Maidenhead - Says that while revenue for the second half ended June 30 was double that of the first half, it expects to post total sales for financial 2020 at GBP460,000, down 67% from GBP1.4 million the year prior. Notes that while the sales decline is "disappointing", it is explained by last year's revenues which included an exceptional order of GBP846,375 and by three months of lost sales due to the Covid-19 lockdown this year. Looking ahead, Sabien said it is planning a strong start to the new financial year with a backlog of more than 300 M2G units to install and a confirmed order book of approximately GBP140,000. A phased return of staff from furlough commenced in June and full operations are expected to be restored within three months.
Current stock price: suspended January 20 at 0.19 pence each.
By Ife Taiwo; ifetaiwo@alliancenews.com
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