21st Jul 2014 07:41
LONDON (Alliance News) - Ubisense Group PLC Monday expressed confidence in meeting its full year expectations, as it said it saw revenues rise around 40% in the half year to end June.
The real-time location intelligence firm said revenues for the half year were around GBP17 million, around 40% higher than the previous year due to strong customer momentum. It did not provide comparative figures.
The company said its order book as at June 30 was GBP16 million.
Ubisense made "substantial progress" in the transition of its business model during the half year, it said, as it continued to shift focus towards its 'solutions' segment. The company saw new customer wins with its Smart Factory System and MyWorld products, it said, which helped to drive up solutions revenues by 45%.
It secured new customers including Audi AG and General Motors Co, and expanded its contracts with existing customers including Airbus SAS and Deutsche Telekom AG.
The company said its acquisition Geoplan Group continued to make progress following integration, Ubisense said, winning customers including Toyota Motor Corp and Nippon Telegraph & Telephone Corp.
Ubisense said it expects to announce its interim results September 16.
Shares in Ubisense were trading up 2.9% at 177.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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