Sabien Tech. Regulatory News (SNT)

2 Dec 2009 07:00



2nd December 2009

Sabien Technology Group plc

("Sabien" or "the Company")

New contract win

Sabien, the manufacturer and supplier of energy efficiency technology M2G is pleased to announce it has been awarded an initial order for £163,000 (Phase 1) with the UK's largest retail bank which it expects to deliver during this financial year. The contract to fit M2G on 22 sites represents the first phase of M2G installations for this client. There are c.4,000 sites in the banking group's portfolio. 

This initial order comes as a direct result of a successful Project 10 pilot where energy consumption and CO2 emissions were reduced by up to 15% across a number of buildings. These buildings already have existing Building Management Systems in place. 

Current trading and prospects

Alan O'Brien, Chief Executive Officer for Sabien, said:

"Including this order, the value of orders placed with Sabien in the current financial year from 1 July 2009 amounts to £581k which represents a 58% increase above that signed in the equivalent period last year. It also represents 86% of the sales revenue for the last full financial year of £675k.The Board is therefore confident that results for the year to 30 June 2010 will show considerable revenue growth over the previous year.

This is the second initial order that Sabien has received in the last few months from blue chip clients with a large number of sites where M2G can be installed. 

These orders have been won due to the dedication and hard work of the Sabien team and I would like to congratulate them on their achievements to date."

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