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(Alliance News) - Transense Technologies PLC on Wednesday said its net earnings fell amid revenue growth in the six months to the end of December, but 2025 trading is on track to meet expectations.
The Bicester, England-based sensor technology developer said half-year revenue rose to GBP2.4 million from GBP1.8 million year-on-year. This represents a 37% surge, above the expected growth rate of 30%.
However, Transense expects to report a 20% drop in net earnings. The company cited higher operating expenditure, resulting from significant investment over the last six months.
Transense anticipates the investment paying off in the second half as its three branches expand in line with guidance.
The gross profit margin remained above 87 per cent of revenue despite during the half-year, the company said.
Net cash at December 31 was GBP1.2 million, compared to GBP1.3 million at June 30.
Royalties from the company's Sawsense and Bridgestone iTrack technology were above expected rates for the six months to the end of December, the company said, with GBP840,000 receivable from Bridgestone at the end of January.
Executive Chair Nigel Rogers commented on Bridgestone: "Although unit royalty rates per installation will decrease next year, there is momentum behind the installed base indicating continued strong income flow for the next five years. We will continue to reinvest some of this in the two operating businesses."
Transense estimated a 7% year-on-year revenue increase from its Translogik business in the last six months. This is "consistent with the expected growth from existing customers" but slower than expected.
The company increased its total headcount to 30 from 19 between December 31 and Wednesday's update. Transense said recruitment was largely complete, and that its team was positioned to deliver pipeline projects "without significant incremental salary costs".
Transense shares were down 6.3% at 150.00 pence each on Monday morning in London.
By Holly Munks, Alliance News reporter
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