- Energy-saving devices group Sabien Technology reported a reduced first-half loss as sales rose 25% to £0.44m.

Loss before tax for the six months to December was down 57% to £0.213m from £0.497m.

Sabien said it had £0.59m of sales orders already in the first six months of this financial year, which equated to 87% of 2008/9 full year revenue.

Cash was £1.069m, against £0.525m at end June, after a placing raised £1.475m.

Chairman Clive Morton said, 'With strong customer demand for our M2G technology, which is reflected in a significant year on year increase in sales quotations and a steadily increasing order book, we are confident that the group is in a strong position to capitalise on the benefits that M2G brings to its customers.

'Whilst we undertake our commercial activities, the group continues to exercise strong cash management. We anticipate the next six months to be yet another critical period of transition as we begin to realise significant sales from our past and current P10 programs.'

Story provided by Business Financial Newswire