Transense Technologies PLC Trading Update (3893W)
August 01 2018 - 1:00AM
UK Regulatory
TIDMTRT
RNS Number : 3893W
Transense Technologies PLC
01 August 2018
Transense Technologies plc
("Transense", the "Company" or the "Group")
Trading Update
Transense Technologies plc, the provider of sensor systems for
the transportation and industrial markets, is pleased to provide a
trading update for the year ended 30 June 2018.
Results in the second half of the financial year were in line
with the first half. Full year revenues were slightly ahead of the
prior year and over 40% per cent. ahead of the prior year when
excluding the FY17 revenue from Surface Acoustic Wave (SAW)
technology licensing to General Electric.
Growth in the financial year, in the rental income, from large
mining haul trucks using Translogik's iTrack tyre monitoring system
has resulted in the Group commencing the new financial year with
monthly recurring operating lease rental revenue at 1 July 2018
being over 200 per cent. higher than at 1 July 2017.
The Group closed the year with cash of GBP1.6m and no debt.
Graham Storey, CEO of Transense, commented: "We have continued
to make good progress with both the rental stream from iTrack II
and sales of Translogik's tyre probes. SAWSense revenue has fallen
during the period however the level of activity remains positive.
We look forward to providing a further update with our forthcoming
final results."
For further information, please visit www.transense.co.uk or
contact:
Transense Technologies plc
Graham Storey, Chief Executive Tel: +44 1869 238 380
finnCap Ltd (Nomad and Broker) Tel: +44 20 7220 0500
Ed Frisby, Giles Rolls (Corporate Finance)
Abigail Wayne (Corporate Broking)
About Transense Technologies
Based in Oxfordshire, UK, Transense has developed
patent-protected sensor systems and supporting technology for use
in a variety of diverse high growth markets. Transense's Surface
Acoustic Wave (SAW), wireless, battery-less, sensor systems offer
significant advantages over legacy wireless sensor systems.
Transense is targeting the transport and mining industries, and the
global torque, temperature and pressure sensing markets, via its
trading divisions, Translogik and SAWSense.
Transense's shares are admitted to trading on AIM, a market
operated by the London Stock Exchange (AIM: TRT).
www.transense.co.uk
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Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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