Shares in gearbox designer Torotrak plunged as it swung into a pre-tax loss for the year after reduced sales and restructuring costs.The group posted a pre-tax loss of £3.1m for the year ended 31 March compared to a pre-tax profit of £0.4m the same time a year earlier. Revenue fell to £5.1m during the year versus £7.6m before.Torotrak said it had advanced its major licensee programmes, had maintained its financial strength, re-organised and reduced its costs and put in place structures to work more effectively with suppliers and customers. Year end net cash fell to £8.3m from £13.1m. The group took one-off restructuring charges of £0.7m in the year which is expected to yield cash savings of around £1.4m in the first year.Torotrak said it is well positioned to deliver real change and growth. CJ