ServicePower Technologies reveals expected full year loss

ServicePower Technologies, a company which provides outsourced services and field management, confirmed Friday the details of its expected loss for the year ended December 31st.

ServicePower Technologies, a company which provides outsourced services and field management, confirmed Friday the details of its expected loss for the year ended December 31st.

Revenue for the 12 month period is set to total £11.1m, with the expected earnings before interest, tax, depreciation and amortisation (EBITDA) result being a loss of £1.3m and pre-tax losses of £1.8m. Of this loss, £0.5m is expected to relate to foreign exchange losses.

Subscribe to MoneyWeek

Become a smarter, better informed investor with MoneyWeek.

The company said the board expects to report a net cash balance of approximately £4.5m at the year end.

On a more positive note, the company said it has experienced protracted contract negotiations on several significant contracts that are now progressing positively and the company expects to conclude contracts worth over £1.0m in revenue for 2013 by the end of the month.

Advertisement
Advertisement - Article continues below

Mark Duffin, Chief Executive Officer of ServicePower, said: "We continue to increase our client reach with negotiations on several significant contracts with a range of blue chip corporations in both the US and UK. We are in the process of further extending our service platform, by adding the power of crowd-sourcing, mobility and the cloud to our products.

"ServicePower is at the forefront of the field services industry, committed to providing an unrivalled service in terms of quality and breadth of product capabilities, and given the visibility in the sales pipeline we believe the prospects of ServicePower in 2013 to be positive."

NR

Advertisement

Recommended

Visit/investments/investment-strategy/600861/how-demographics-affects-stock-valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Visit/investments/stocks-and-shares/600863/sirius-minerals-anglo-american-takeover
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Visit/investments/stockmarkets/600634/why-investors-should-be-cautiously-bullish-for-2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020
Visit/investments/stocks-and-shares/share-tips/600636/class-acts-going-cheap-buy-into-europes-best
Share tips

Class acts going cheap: buy into Europe’s best bargains

Value investing appears to be making a comeback, while shares on this side of the Atlantic are more appealing on metrics such as price/earnings ratios…
16 Jan 2020

Most Popular

Visit/investments/stockmarkets/601030/markets-are-starting-to-realise-just-how-bad-the-coronavirus-crisis
Stockmarkets

Markets are starting to realise just how bad the coronavirus crisis will be

As governments around the world throw everything including the kitchen sink in the fight against coronavirus, markets are reaching the “moment of maxi…
23 Mar 2020
Visit/economy/601027/money-minute-monday-23-march-will-whatever-it-takes-be-enough
Economy

Money Minute Monday 23 March: will “whatever it takes” be enough?

As we start to see the damage that the shutdown is doing, Money Minute looks at central bank measures to counter it.
23 Mar 2020
Visit/investments/stockmarkets/601028/stockmarket-crash-more-to-come
Stockmarkets

Stockmarket crash: more to come

The stockmarket crash was hard and sudden – and it might not be over yet. But while the short term outlook is awful, says Merryn Somerset Webb, that d…
23 Mar 2020
Visit/investments/stockmarkets/european-stockmarkets/600725/is-2020-the-year-for-european-small-cap
Sponsored

Is 2020 the year for European small-cap stocks?

SPONSORED CONTENT - Ollie Beckett, manager of the TR European Growth Trust, on why he believes European small-cap stocks are performing well.
12 Feb 2019