Transense says confident in delivering value as annual profit grows
Transense Technologies PLC on Tuesday said it is managing cash headroom and investing in people, as it announced higher profit.
The Bicester, England-based sensor technology developer said pretax profit climbed 12% to £1.4 million in the financial year ended June 30, from £1.3 million a year prior.
Revenue grew 33% to £5.6 million from £4.2 million. Notably, SAWsense revenue surged to £1.1 million from £450,000.
Executive Chair Nigel Rogers said: ‘The visibility of future revenues is improving continuously, although does not yet extend to a full year ahead in granular detail. Accordingly, the directors maintain close attention to short term forecasting to maintain flexibility during each year. Looking towards the medium to long term, the board are satisfied that the conditions are in place to deliver significant strategic value and investor returns, whilst managing cash headroom and investing in the people, products and equipment that are necessary to capitalise on these exciting opportunities.’
Transense shares fell 14% to 105.00 pence each on Tuesday afternoon in London.
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