| |
| Please Note - Streaming News is only available to subscribers to the Active Level and above |
|
|
|
Sabien Technology Group reports £325k profit for H2 2020
StockMarketWire.com
|
Sabien Technology Group has recorded a gross profit of £325,000 for the six month period to December 31, 2020, more than double that for the same period in 2019.
Sales revenue for the period reached £412,000, up from £159,000 a year earlier. The company did record a loss before tax of £310,000, compared with a loss of £561,000 for the same period in 2019.
Exceptional costs of £132k were recorded for the six month period, comprising legal and professional fees incurred in relation to the proposed acquisition and reverse takeover of Ptarmigan Health Destinations SA.
In a statement, the chairman of Sabien Technology Group said: 'Whilst it was disappointing to not complete the acquisition and associated reverse takeover of PHD during the period under review, I am convinced that Sabien remains well positioned. Indeed, I look forward to an exciting growth phase over the medium term, both organically and through acquisitions.
'As previously announced, the board was unable to secure the required Swiss and UK regulatory approvals in sufficient time to avoid the cancellation of trading in the company's ordinary shares on the AIM Market. Therefore, the board took the decision to withdraw from the PHD transaction. Following this withdrawal, Cédriane de Boucaud Truell and Marco Nijhof stepped down from the Sabien board to continue PHD's growth plans.'
Story provided by StockMarketWire.com
|
|
|
|
|
|
