SVR.L Regulatory News (SVR)

16 July 2015

ServicePower Technologies Plc

("ServicePower" or "the Company")

Trading Update

ServicePower Technologies Plc (AIM: SVR), a market leader in mobile workforce management software, is pleased to provide an update on trading for the six month period ended 30 June 2015.

Trading for the half-year is in line with management expectations and is also ahead of the same period last year. Total revenues for the six months to 30 June 2015 are expected to amount to £7.0 million (of which 81.5% is recurring in nature), compared to £6.2 million for the same period last year and £6.5 million for the last six months of 2014.

The Company expects to report a gross profit for the half-year of £3.4 million (H1 2014: £2.7 million), a LBITDA of £0.2 million including £0.1 million in extraordinary expenses and £0.2 million in IT cloud transition costs (H1 2014 LBITDA: £0.7 million) and a net loss of £0.6 million (H1 2014: net loss £0.9 million) including the accrued interest that was converted as of 30 June 2015, as announced on 30 June 2015.

Cash at 30 June 2015 was £0.7 million prior to the receipt of the £0.75m short term loan, as announced on 30 June 2015.

For the second half of the year, the directors anticipate a return to profit, and given the Company's working capital cycle and the redemption and conversions of the convertible loan notes, this will be accompanied by a significant improvement in the cash position.

Building on the progress made in 2014, a number of significant deals were signed during the period driving increased revenue in the first half combined with the increase in volumes and ongoing expansion activities begun in 2014. The Company also signed a number of strategic partnerships in order to strengthen its global client base and broaden its functional capabilities and cloud-based offerings.

Product innovation has continued at a rapid pace in the first half resulting in:

· the Q3 initial launch of NEXUS FS™, a fully cloud based business and mobile workforce management software product delivered as software as a service.

· a new management console providing mobile workforce operational managers with configurable, real time interface(s) to monitor operations and analyse key metrics.

· the Q3 initial launch of Optimisation On Demand™ to offer field service organisations the productivity and cost savings of an optimised route on demand using the proven power of the simulated annealing algorithm, to achieve the best and least costly schedule while meeting customer experience goals.

Marne Martin, CEO of Service Power plc, commented: "ServicePower has had a strong start to 2015 and well is positioned to deliver a strong performance in future. Our growing client base, including some well-known brands, is proof of our commitment to provide one of the most technologically advanced field management tools in the world. Building on our progress and performance in the first half of 2015 we are confident that the full year will be successful."

For further information, please contact:

About ServicePower

ServicePower, the acknowledged leader in Optimisation Technology, provides an innovative global, fully mobilised field service management software platform used by field service organisations such as Assurant Solutions, Mitsubishi, Farmers Insurance, AIG Warranty and Pitney Bowes to improve productivity and efficiency, intelligently schedule appointments, SLA and complex jobs, as well as parts. Our platform focuses on solving fundamental field service problems with patented routing optimisation, M2M connected services, 3rd party dispatch and warranty claim payments, cutting edge mobile technology, robust business intelligence and asset tracking.

ServicePower is listed on the AIM market of the London Stock Exchange with the ticker SVR.L. For more information please visit www.servicepower.com