LONDON (Alliance News) - Energy-efficiency technology firm Sabien Technology Group PLC on Wednesday said its order book has increased since its last trading update and said it has signed a new agreement in the UK with Endo Enterprises (UK) Ltd.
Shares in Sabien were up 25% to 5.00 pence on Wednesday upon the news.
Sabien said its order book now stands at GBP12.5 million, up from the GBP11.4 million reported on June 2, when the group had warned of a wider loss for its financial year to the end of June due to revenue declines.
Sabien said trading since the start of its new financial year on July 1 has been solid, and it continues to maintain three months' cash to cover working capital, in line with its strategy.
Sabien also said it has signed a deal with Endo Enterprises to act as the sole distributor of the EndoTherm liquid additive product for heating systems. Sabien said the product should be a complementary fit with its existing range.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Sabien Tech. (SNT)