27th Nov 2024 11:45
(Alliance News) - Transense Technologies PLC on Wednesday said revenue and profit are up compared to last year and it expects to perform "at least in line" with market expectations.
Oxfordshire, England-based Transense supplies sensor technology used to measure the force of vehicle components.
The company said in a trading update revenue was 48% higher in the four months to the end of October on the same period last year. This is the first four months of Transense's financial year which runs to the end of June 2025. Transense also said that net profit was up around 10% on last year.
The company said it is "well placed" to achieve results "at least in line" with market expectations for the full-year. It also said it is "optimistic of prospects thereafter".
It said gross margins were consistent with last year, at more than 85% of revenue.
The company said revenue from its Translogik and SAWsense businesses more than doubled. Translogik produces tyre inspection tools and SAWsense produces sensor systems.
Transense said the move to bring Translogik production in-house had been successfully completed and delivered "the anticipated benefits in efficiency, quality and unit costs".
Shares in Transense Technologies were up 5.6% to 190.00 pence in London on Wednesday morning.
By Michael Hennessey, Alliance News reporter
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