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21 Jan 2011 07:00
ServicePower Technologies plc
("ServicePower" or the "Company")
Trading StatementFollowing the close of its 2010 financial period, ServicePower is pleased to report that it expects year end results to be in excess of management expectations with revenue of approximately £18 million, a likely EBITDA result of £800,000 and profit before tax of in excess of £300,000. Additionally, the Board expects to report a net cash balance of approximately £3.6 million at the year end.The benefits of a full year of a lower cost base as a result of the restructuring in 2009 and new contract wins combined with a competitive pricing structure enabled the Company to achieve the improved financial results for the year.Mark Duffin, CEO, ServicePower said, "The Company has a healthy pipeline of prospects with sizeable potential customers and therefore we hope to build on the successes achieved in 2010 and we look forward to the future with confidence."For further information, please contact:
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| ServicePower Technologies | finnCap | |
| PLC | | |
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| Tel: +1 410 571 6333 | Tel: 020 | |
| | 7600 1658 | |
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| Mark Duffin, Chief | Marc Young | |
| Executive Officer | | |
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| | Charlotte | |
| | Stranner | |
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About ServicePower:ServicePower, publicly traded on the AIM market operated by the London Stock Exchange (AIM:SVR), allows companies to locate their employed field resources in the right geography, ensure they have the right mix of skills, and outside this geography create a network of independent, authorised service contractors whose costs are efficiently managed by our sophisticated warranty management software. The schedules and routes for both the employed field resources and the independent servicers are optimised by ServicePower's technology to ensure the right balance between the cost of operations and ensuring customers receive a superior service experience.
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