Sabien Technology FY 2021 Revenue Increased; Shares Rise – MarketWatch

By Anthony O. Goriainoff

Shares in Sabien Technology Group PLC rose after the company said that revenue for fiscal 2021 rose, and that open orders into fiscal 2022 are around 43,000 pounds ($59,331).

Shares at 0710 GMT were up 2.50 pence, or 12%, at 24 pence.

The London-listed provider of energy-reduction technologies said for the year ended June 30, it generated revenue of GBP970,000 compared with GBP454,000 in 2020. Revenue in the second half rose 89% to GBP560,000.

Sabien Technology said as of June 30, it had cash in hand of GBP1.4 million compared with GBP780,000 the year before.

“In addition to the number of exciting opportunities, several of which could come to fruition in the short to medium term, we are building a corporate structure which will ensure that this expansion delivers value to shareholders and maintains Sabien’s ability to develop further,” Chairman Richard Parris said.

Write to Anthony O. Goriainoff at [email protected]