Transense posts loss after slow year

Pressure sensor maker, Transense Technologies, has posted its second consecutive annual loss and said progress in 2010 had been slower than expected.The firm racked up losses before tax of £1.5m in the 12 months to the end of December, roughly equal to its performance the year before.Revenues were marginally up at £656,000, with the company reporting a £1.39 basic loss per share.Transense said overall progress in 2010 had been below the board's expectations due to delays in its new Translogik tyre repair business, which was set up to provide quick revenues to support longer term development.However, chief executive, Graham Storey, said the company remained confident in the quality of its technology, the strength of its relationships with key customers and the value of its products to its customers.--mm Transense