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LONDON (Alliance News) - Sabien Technology Group PLC said Tuesday that it expects to report that it swung to a loss of no more than GBP300,000 in the year to end-June, as "substantial" customer orders were delayed.
Revenue for the year was GBP2.13 million, as customer orders that were expected in the second half were pushed back to the current financial year. The company's sales pipeline stands at GBP5.8 million, up from GBP4.6 million as at June 30, 2013.
In the financial year to end-June, 2013, Sabien posted a pretax profit of GBP400,000 on revenue of GBP2.5 million.
Sabien said that it believes it has sufficient capital and resources to execute its business plan and deliver anticipated growth in the years ahead. It also expects to continue with its progressive dividend policy following its maiden dividend in 2013.
Sabien expects to post its full year results in the week started October 6.
Shares in Sabien were trading down 3.6% at 17.60 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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