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(Alliance News) - Sabien Technology Group PLC on Monday said it demonstrated the ability to scale and scope its developments as it reported a narrowed interim loss.
The London-based company, focused on green technologies such as plastic-to-oil recycling and CO2 mitigation for commercial and residential boilers, said pretax loss narrowed 19% to GBP371,000 in the six months to December 31, from GBP458,000 a year prior.
Revenue jumped 55% to GBP369,000 from GBP238,000. Administrative expenses decreased 12% to GBP597,000 from GBP676,000.
Executive Chair Richard Parris said: "The scale and scope of our development is in our hands. I believe that we have demonstrated this ability in our first half results. I am confident that it will remain the case and that further growth is in prospect."
Sabien shares were untraded at 8.25 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
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