Transense Technologies had a strong end to it financial year.
In the year to June 2019, the temperature and torque monitoring technology developer generated revenues of around £2.22m, which was more than 10% ahead of expectations and up from £2.05m the previous year. This and control of overheads helped to reduce the loss.
Net cash was £2.6m at the end of June 2019. There should be a limited outflow this year and net cash could still be above £2m next year.
Subscription income from iTrack II services increased by 61% to £980,000. Translogik probe sales fell, but there are opportunities to gain orders via GE.
Revenues of £4m are forecast for this year, which would halve the loss to £900,000. Growing subscription revenues improve the quality and repeatability of revenues.
© 2020 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Building services provider Northern Bear has acquired electrical contractor J Lister for an initial £950,000 in cash and shares.
A shareholder has filed two legal claims against simulation technology company SimiGon Ltd.
UniVison Engineering Ltd has signed a framework agreement with the China Railway Engineering (Hong Kong) and China Railway Wuhan Electrification Engineering joint venture.