- Sabien Technology Group announces its unaudited interim results for the six month period ended 31 December 2014.

Highlights in the period

· Sales revenue £542k (2013/14 - £924k) with high gross margins maintained

· Sales orders received £610k (2013/14: £879k)

· Loss before tax £521k (2013/14 - £245k loss)

· Net cash at the end of the period was £1,106k (£1,425k at 30 June 2014)

· Final dividend £91k (2013/14 - £79k) paid in November

· Sales pipeline of £6.9m (£6.9m at October 2014's update)

· Tender award from Lincolnshire County Council (October 2013) - £126k revenue from this contract recognised in period. Further £1.1m revenue expected to be recognised by the end of this financial year

· New contract wins in the 6 months included NHS Scotland Ayrshire & Arran, Durham County Council, Northumbria Healthcare NHS, Jones Lang Lasalle, Sidney Sussex College, Dumfries & Galloway Council

· Recruitment of 2 additional Business Development Managers bringing team to 5 in total

· Sales from indirect partners 24% of total sales revenue (2013/14: 44%)

· Overseas sales £121k (2013/14: £66k) - Non-exclusive distribution agreements signed with Tech Centres in China, Malaysia, Taiwan, Thailand, Indonesia, Brazil, Lithuania, Latvia, Estonia

· Launch in September 2014 of M1G retrofit control for hot water heaters. First orders received from India Tech Centre

· £146k of orders received since 1 January 2015 giving total orders received for delivery this financial year of £2,000k (2013/14 - £1,100k)

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