Business Weekly - Cambridge, UK

It said that its results are in line with expectations and that a revised business model was introduced at the end of 2006 to address the inherent issue of technology suppliers working with lock manufacturers and the time scales involved in converting product trials into production.

As a result, it said that its sales strategy for 2007 will focus on complete sub-assembly electronic lock solution systems for lock manufacturers and distributors to add market value and accessibility, which it said gives confidence about making positive progress during the coming year.

Following the results announcement, shares in Servocell dropped almost nine per cent, falling 3.5p to 36.5p.