Sabien revenues double despite Covid-19 impact
By Iain Gilbert
Date: Monday 06 Jul 2020
(Sharecast News) - Energy reduction group Sabien Technology said on Monday that it had not escaped the impact of the Covid-19 pandemic, despite managing to double revenues throughout the second half of the year.
However, Sabien said that its unaudited total sales for the year came to approximately £460,000 - a marked reduction when compared to the £1.37m brought in by the firm twelve months prior.
The AIM-listed group attributed the decrease in full-year sales to an exceptional order of £846,375 in the prior year and three months of lost sales due to Covid-19 lockdowns.
Sabien's board believes that first-half sales represented a "low watermark" after several years of diminishing performance and said sales prospects were "demonstrably strengthening" and consistent year-on-year growth was expected as it transitions into a "more realisable" go-to-market strategy.
Operationally, Sabien also said it was planning a strong start to the new financial period, with a backlog of more than 300 M2G units to install and a confirmed order book of approximately £140,000.
As of 1330 BST, Sabien shares were untraded at 0.19p.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN