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LONDON (Alliance News) - Sabien Technology Group PLC said Tuesday it expects its full-year trading performance to be in line with its expectations despite a reduction in sales activity leading to a widened loss in the first half.
In the half year to end-December 2014 the energy saving technology firm posted a pretax loss of GBP520,000, widened from a pretax loss of GBP254,000 a year before, as revenue declined to GBP542,000 from GBP924,000.
Since the period end, the company said it has received GBP146,000 in orders, taking its orders for the year-to-date to GBP2.0 million. Its sales pipeline currently stands at GBP6.9 million, it said. It expects its sales revenue will loaded towards its second half.
Sabien noted that despite the fall in gas prices it has not experienced a downturn in customer enquiries, pilots or orders.
The company has been investing in its sales force, including hiring two new business development managers, which it expects to "bear fruit" in its second half.
"Increased scale and the resulting smoothing of our performance is still at an early stage. There is a great deal more work to do and no doubt further challenges to overcome. Progress has been made and the business is more focused and continues to be better placed to deliver on its potential," the company said in a statement.
Shares in Sabien are trading down 8.1% at 17.00 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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