- Sabien Technology Group said in line with the trading update issued on 29 May 2014 the board expects the company will report a loss before tax of no more than c.£0.3m in the financial year to 30 June 2014 (2013 £0.4m profit) on revenues of £2.13m (2013 £2.47m).

As indicated in the May update, the shortfall in revenue relative to earlier management expectations was due to a delay in the receipt of some substantial customer orders that were expected to be received in the second half of the financial year but which are now expected in the financial year to 30 June 2015.

The sales pipeline currently stands at £5.8m which compares with £5.8m at the time of the May trading update and £4.6m as at 30 June 2013.

The Company's net cash position at 30 June 2014 of £1.42m (2013 £1.36m) remains strong despite the expected loss for the year.

The Board believes that Sabien has sufficient capital and resources to execute its business plan and deliver the anticipated growth in the years ahead. The Board expects to be in a position to continue with its progressive dividend policy following the maiden dividend announced in 2013.

We expect to announce our full year results ending 30 June 2014 during the week commencing 6 October 2014.

At 8:06am: [LON:SNT] Sabien Technology Group PLC share price was -0.75p at 17.5p

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