StockMarketWire.com - Energy saving technology group Sabien Technology posted a first-half loss and warned that COVID-19 would hurt its ongoing revenue performance, as customers moved to home working and reduced spending on new projects.

Pre-tax losses for the six months through December amounted to £0.56m, compared to losses of £0.21m on-year.

Sales fell to £0.16m, down from £0.34m.

The company had previously announced that it was in talks to acquire health and leisure resort group PDHSA, in a reverse takeover deal.

'Shareholders should note that the proposed acquisition remains subject to a number of pre-conditions, due diligence and the market impact of Covid-19,' Sabien said.

'While there can be no certainty at this time that the acquisition will be successful, it has been proceeding as envisaged to date.'




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