8th Jul 2024 14:30
Sabien Technology Group PLC - London-based company, focused on green technologies such as plastic-to-oil recycling and CO2 mitigation for commercial and residential boilers - Says for the financial year ended June 30, secured orders totalling GBP700,000, down 36% from GBP1.1 million a year prior. It noted that the financial 2023 results had a significant single order of GBP700,000 from a UK government customer, whose repeat order for financial 2024 has been delayed "due to wider political events," but expects it to be confirmed later in 2024. Sabien anticipates to announce its financial 2024 results in November. It had announced its last annual results on November 2, 2023.
Further, it notes the extension of its exclusive sales agency agreement with City Oil Field for the first regenerative green oil recycling plant outside of Korea by three years. Executive Chair Richard Parris says: "The extension of our agreement with COF until June 2029 strengthens Sabien's transition to a green aggregation business. We look forward to b.grn building and operating the first COF RGO plant outside of Korea following COF's completion of their domestic plant later this year."
Current stock price: 10.51 pence each, down 8.6% on Monday afternoon in London
12-month change: down 2.2%
By Tom Budszus, Alliance News slot editor
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