SVR.L Regulatory News (SVR)

20 November 2013

ServicePower Technologies plc

("ServicePower" or the "Company")

Trading Update

ServicePower (AIM: SVR), a market leader in field service management, is pleased to provide an update on trading for the year to date.

The strong growth in revenue in the first half of this year, which showed a notable increase on the equivalent period in the prior year, has continued into the second half with steady performance month by month expected through year end. By mid October, revenue booked to date had exceeded the prior full year revenue of £11.1 million.As at 31 October 2013 the Company had cash balances of £1.7m, following the repayment of a portion of the Company's convertible debt (leaving a balance of approximately £0.8m in principal outstanding) and in advance of collecting the larger maintenance renewals prior to year end.  In tandem with driving revenue growth, the management team remains focused on delivering improved operating margins, providing a strong financial footing for the business for it to enter into 2014.

Development of the Company's field service platform has resulted in an extended market reach and new customer wins. New customers secured in the second half of the year include several tier 1 appliance manufacturers as well as the North American segment of an international retailer. Some of these contracts have come through our partnerships with global insurance administration companies. Additionally, contracts with an international beverage bottler and an international consumer products engine manufacturer were also implemented in the second half of the year. Renewal levels with existing customers are high, as they adopt additional products and expand into new geographies. Furthermore, implementation of recently secured significant global contracts is progressing well, and the Board is confident of ServicePower's ongoing success.

For further information, please contact:

About ServicePower

ServicePower is the only company that can provide a complete, global field management platform that controls all elements of the service lifecycle from offering an appointment, assigning resource and dispatching work through to tracking resources, processing claims and providing business intelligence and analytical reports. With advanced intelligence-based scheduling, dispatch and open market auction software, as well as access to a global network of 86,000 repair and installation technicians, we enable companies to control and schedule work using a mixed resource pool of employees and independent contractors. ServicePower provides solutions that cross all industries. Current customers include Assurant Solutions, Mitsubishi, Farmers Insurance, and Pitney Bowes.

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