any thoughts is this just a timing issue and therefore cheap[ to buy at the moment or more of a concern as they promised so much yet delivering is another issue



ServicePower Technologies PLC
03 March 2005


SERVICEPOWER TECHNOLOGIES PLC

('SERVICEPOWER' OR THE 'Company')

Trading Statement

Notice of Announcement of Results

ServicePower, the recognised market leader in artificial intelligence based,
field service scheduling solutions and computer services, today announced
expected revenue for 2004 to be approximately 4.1 million, representing a 52%
increase over the corresponding period in 2003. Whilst the directors are pleased
with the substantial rise in revenue, they recognise that this is less than
market expectations.

In 2004 the Company signed a contract for the implementation of SERVICEPower
application, as part of a much larger project managed by one of the top 5
international systems integrators. The Company included expected revenue from
this contract in its internal forecast as it had delivered its software and the
implementation project had begun.

However, despite the fact that the end-user client is already making use of the
Company's software, the final approval of the software licence element of the
contract, worth in excess of 1.0 million in revenue to the Company, has been
delayed due to a management reorganisation at the end-user client.

The Company had previously intended to recognise revenue from this contract in
2004, given that the software had been delivered and the end-user client was
getting value from it. However continued delays due to the management
reorganisation at the end-user client means the Company must defer the software
licence revenue into 2005. The directors expect to receive confirmation of the
software contract award shortly.

The preliminary results for the year ended 31st December 2005 will be issued
week commencing 21st March 2005.


Note: ServicePower refers to the company and SERVICEPower refers to the product.

28th February 2005
--------------------------------------------------------------------------------

Contacts:

David Brisco, Chief Executive Officer Tel: 0161 476 2277
Barry Welck, Non-executive Chairman Tel: 07831 396539
ServicePower Technologies PLC

Michael Brennan Tel: 020 7071 4300
Evolution Securities Limited



This information is provided by RNS
The company news service from the London Stock Exchange

Damn! just deleted a complete thesis in reply to yours, GG.

In brief -

If you think the delayed contract will not materialise, then we're in a bit more trouble to come.

If you think it will be signed eventually, what's 1 million delayed for a couple of months - fundamentals are sound, good product, well managed/marketed. It's a buying opportunity ahead of the eventual announcement that the contract is secure.

cf. DEMG where a delay of revenues till the new year caused a drop in SP. I watched and waited till the recent low and invested the same amount again at 66% of the price I paid first time - now waiting (a little nervously!) for announcement of results and future outlook on March 15th.

My writing this has clarified my own thoughts that I really ougth to scrape together enough to buy another tranche of SVR at 78% what I paid first time prior to March 21st results.

However, I shall wait for Tom Bulfords RHPSG email update this evening (it's one of his recommends and he is almost sure to comment on todya's TA) before committing myself.

SD

Thus spake Tom Bulford

SERVICEPOWER TECHNOLOGIES (SVR):When it
announces its annual results in the week
beginning March 21st, ServicePower will report
revenues of 4.1m for 2004. This compares to
the 6.5m forecast of broker Evolution.
ServicePower explains that it has delivered a
1m plus software contract, but has not been
paid by its client, an international systems
integrator, due to a management reorganisation
at the end user. ServicePower expects to
receive payment shortly, but all the same the
shares have taken a knock. Until we see the
final results, I am moving ServicePower to a
HOLD.

I shall take his advice and hold until the results, unless something new arises to change my mind - unlikely. If the SP falls on the results (not at all unusual) this is probably the buying opportunity to wait for, depending upon what future looking comments are also contained therein.

SD