Sabien on the boil
Sales, profits and the order book are all heating up nicely at energy saving device developer Sabien Technology.
Sales, profits and the order book are all heating up nicely at energy saving device developer Sabien Technology.
The company saw a 63% hike in profit before tax during the six months ended December 31st to £0.3m from £0.19m the year before.
Revenue rose to £1.5m from £1.1m the previous year.
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The company said £354k of orders have been received since January 1st 2012 giving total orders received for year to date of £1.86m, which is already nine-tenths of what the company sold in the whole of the previous fiscal year.
Orders from indirect partners for the year to date now amount to £603k which represents 32% of orders received."
The sales pipeline currently stands at £9.5m, up from £8.3m at the time of the company's previous update in October of last year.
The size of the sales pipeline is regarded by management as a key performance indicator as it gives a clue to the amount of business that could be generated over the following 6-24 months. Sabien's experience is that it can take at least 18 months for a customer enquiry to convert to a sales order.
The cash situation is also looking healthy at £1.34m, up from £1.03m at the end of June 2011.
"Growth from our existing business in the form of repeat orders has created a solid platform for 2012. Taken together with the sales performance since 1 January 2012, the group is well positioned to take advantage of market opportunities as and when they appear," the firm said.
The share price rose 25% to 38.75p by 13:56.
NR
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