11th Jul 2023 10:46
(Alliance News) - Transense Technologies PLC on Tuesday said its adjusted earnings before interest, tax, depreciation, and amortisation, and revenue rose in the year ended June 30, and are in line with market forecasts.
The Bicester, Oxfordshire-based developer of specialist sensor systems for vehicles said it expects adjusted full year Ebitda to be in line with market expectations at GBP1.4 million, up from GBP600,000 a year prior.
Transense said revenue for the year ended June 30 is also in line with market expectations, having increased by more than 35% to over GBP3.5 million from GBP1.0 million the year before.
Cash balance has been maintained at GBP1.0 million, the company added.
Looking ahead, Transense said it is "pleased" with the momentum of its ongoing commercial pipeline, particularly for its SAWsense and Translogik businesses.
Shares in Transense were up 0.4% at 86.81 pence each in London on Tuesday morning.
Results for the year ended June 30 will be released in September.
By Sabrina Penty, Alliance News reporter
Comments and questions to [email protected]
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Related Shares:
Transense