25 May 2012

Sabien swings to black

11/07/2011 Miles Nolan

Boiler efficiency specialist Sabien Technology (SNT) has reported a strong trading update, in which it expects to report a profit in the year to June.

The AIM counter has enjoyed strong demand for its products, the result of this is that sales for the year should be ahead by 114 per cent to £2.08 million, with pre-tax profits of £190,000 (2009: £340,000 loss). In addition Sabien has reported its sales pipeline is up 39 per cent to a record £7.9 million.

Further growth is expected in the current financial year to June 2012, largely driven by direct sales, indirect partners and thanks to strong interest from the US. Sabien sells a patented technology known as M2G, which slashes fuel consumption in commercial boilers. The product can also be retro-fitted to existing boilers.

Recent significant contracts include: a £230,500 order from Lloyds Bank, a £300,000 contract in the US from its distributor in the country, and even a £81,400 order from Kew Gardens. Sabien is also witnessing strong interest and orders in the public sector market.

The shift from trials to firm orders is welcome news for Sabien. Full year results are due on 3 October, the shares are an interesting speculation - and are up 1p to 35p today.

Tags: AIM market, Alan O'Brien, M2G Technology, Swing to profits

Sector: Electronic & Electrical Equipment

Companies: Sabien Technology

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