- Energy efficiency technology group Sabien Technology says its move to profitability is being delayed by a hold-up in major contracts.

Sabien reports its pipeline of enquiries, quotations and expected orders has continued to grow. Sales quotations made to date currently stand at £3.8m.

'However, due to a number of reasons outside the company's control, such as recent local elections and delays in private sector companies placing orders, a small number of large contracts with commercial terms agreed, which the company had previously expected to receive and be recognised as revenue during the current financial period, will now be delayed into the financial period ending 30 June 2011.

'This will result in a delay to the company's move to profitability.

'No orders have been cancelled over this period and the company has not received notification from any potential client that they do not still propose to place their expected orders.'

Story provided by Stock Market Wire