Sabien flags strong start to new financial year

(Sharecast News) - Sabien Technology Group reported a strong start to its new financial year on Friday, saying early sales put it on track for year-on-year growth. The AIM-traded energy reduction technology company said it had generated £0.27m in recognised sales revenue from its M2G activities in the first 10 weeks of the financial year, with a further £0.17m in open orders expected to be invoiced within the first half.

It said the combined £0.44m compared with £0.33m in sales revenue for the same period last year.

"I believe this strong start to the new financial year shows our strategy for turn around and growth is bearing fruit," said executive chairman Richard Parris.

"At the 20% point through the year, we have already secured in excess of 50% of the previous full years' sales revenue through a combination of enhanced channel sales and cloud service subscriptions."

At 1400 BST, shares in Sabien Technology Group were up 2.24% at 6.39p.

Reporting by Josh White for Sharecast.com.