Sabien Technology move back into the black

Energy saving device developer Sabien Technology saw its pre-tax profit move back into the black after revenue more than doubled for the year ended 30 June. Income rose from £0.97m to £2.1m, leading to profit before tax of £0.2m, up from a loss of £0.5m the previous year. Despite this rise, earnings per share fell from 1.2p to 0.7p. In a statement the firm said: "Looking ahead, our company has never been stronger or better positioned to capitalise on the increasing demand for our proven energy efficiency technologies."The group has made a good start to the new financial year and since 1 July 2011 has received purchase orders totalling £0.8m, an increase of 38% over the same period last year, all of which will be recognised as revenue in the first half of the current financial year.The size of our business pipeline at c.£8.3m is at a record level. We have a high quality customer base which includes many local authorities and blue-chip private and large public companies. These facts plus the level of orders received, which represent to a large extent initial phases of roll-out and which should generate significant future revenues, along with a well-controlled cost base, all enable the directors to feel very confident about the future." Cash for the group at the end of the period was £1m, slightly up from on the same date of the previous year (2010: £0.96m). The share price rose 3.39% to 30.5p by 13:14. NR