SVR.L Regulatory News (SVR)

1 Feb 2008 07:00

ServicePower Technologies PLC01 February 2008 SERVICEPower TECHNOLOGIES PLC ("SERVICEPower" OR THE "COMPANY") Trading Update 1 February 2008 - SERVICEPower (LSE: SVR), a market leader for outsourcedservice and field management is pleased to report that trading progressedaccording to plan during the second half of 2007 and the Company expects toreport results for the year ended 31 December 2007 in line with expectations. Revenue in the second half of the year was significantly higher than in thefirst half and the business was profitable, finishing 2007 with £1.5 millioncash in the bank. Since the year end, SERVICEPower has signed a number of contracts. These includethe sale of a software licence in the US to a major corporation to schedule thework of its 650 vehicle inspectors, and the commencement of a fully funded pilotin another business division of one of the Company's largest US customers.SERVICEPower has also been awarded a software contract by Sector Alarm toschedule engineers within its domestic intruder alarms business in Norway,Sweden and the UK. Mark Duffin, CEO, SERVICEPower, commented, "Since being appointed CEO ofSERVICEPower in November 2007, I have conducted a thorough review of operationsin all markets. As a result of this we have made significant changes in anumber of areas to create a more efficient business with a more effective salesoperation. I believe these changes leave us better positioned to achieve ourgoal of revenue growth and profit generation. The new contract wins are anendorsement of our increased focus and I am encouraged by business levels in theyear thus far. I look forward to providing the market with a more detailed update when weannounce our full year results in March 2008." For further information, please contact: SERVICEPower Technologies PLC Tel: 0161 476 2277Mark Duffin, Executive DirectorBarry Welck, non-executive Chairman Evolution Securities Limited Tel: 020 7071 4300Bobbie Hilliam ICIS Limited Tel: 020 7651 8688Tom Moriarty, Bob Huxford About SERVICEPower SERVICEPower, publicly traded on the London Stock Exchange (LSE:SVR), allowscompanies to locate their employed field resources in the right geography,ensure they have the right mix of skills, and outside this geography create anetwork of independent, authorized service contractors whose costs areefficiently managed by our sophisticated warranty management software. Theschedules and routes for both the employed field resources and the independentservicers are optimised by SERVICEPower's technology to ensure the right balancebetween the cost of operations and ensuring customers receive a superior serviceexperience. This information is provided by RNS The company news service from the London Stock Exchange