Sabien plc (AIM: SNT) - interim reports disappointing at first glance but still shows potential
The manufacturer of the patented M2G energy saving devices, who we commented on recently has announced its unaudited interim results for the six months to 31st December 2014.
Sales of £542k were significantly down on the prior years (2013/14 - £924k) although the high gross margins have been maintained. This results in a pre-tax loss for the first half of £521k (2013/14 - £245k loss) The net cash position at the period end of £1,106k (£1,425k at 30 June 2014) remains supportive. Despite the evident first half disappointment, the sales pipeline of £6.9m (£6.9m at October 2014’s update) and several significant new contracts wins in the past 6 months is encouraging. Management confirmed that they expect to deliver results for the full financial year in line with its…