Transense Technologies interim profit more than doubles

(Alliance News) - Transense Technologies PLC on Monday said it expects full-year revenue to be weighted towards the second half, after reporting interim results.

Transense Technologies is a Bicester, Oxfordshire-based developer of specialist sensor systems for vehicles.

In the six months ended December 31, revenue climbed 10% to GBP1.8 million from GBP1.6 million a year earlier.

Pretax profit more than doubled to GBP632,000 from GBP257,000.

Looking ahead, Transense expects revenue for financial 2024 to be "heavily" weighted towards the second half.

Chair Nigel Rogers said: "Historically, forecasting has been challenging due to the early stage of adoption of technology, and the concentration of revenue generation from a relatively narrow customer base. Revenue visibility is now much clearer for Bridgestone iTrack, and the increasing pipeline activity at Translogik is expected to provide a clear growth trajectory. Visibility of SAWsense revenue is also beginning to improve as the customer base expands and programmes mature, and the concentration risk is reducing."

Shares in Transense were up 2.2% to 104.75 pence each in London on Monday afternoon.

By Sophie Rose, Alliance News senior reporter

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