ServicePower still positive

SERVICEPOWER Technologies, which provides software services to the field management management sector, has fleshed-out its Christmas Eve profit warning, and says its prospects are positive.

The AIM-listed Stockport-based group said it had been affected by long-drawn-out contract negotiations, but these are now progressing.

Full-year revenue for the year to the end of December 2012 will be approximately £11.1m, and it will make an £1.3m loss at ebitda level and and loss before tax of approximately £1.8m, of which around £0.5m is expected to relate to foreign exchange losses.

The company said the resolution of delayed contracts would mean that it expects to conclude contracts worth over £1m in revenue for 2013 by the end of the month.

Chief executive Mark Duffin, said: “We continue to increase our client reach with negotiations on several significant contracts with a range of blue chip corporations in both the US and UK.

“We are in the process of further extending our service platform, by adding the power of crowd-sourcing, mobility and the cloud to our products.

“ServicePower is at the forefront of the field services industry, committed to providing an unrivalled service in terms of quality and breadth of product capabilities, and given the visibility in the sales pipeline we believe the prospects of ServicePower in 2013 to be positive.”