Transense Technologies (AIM: TRT) tough year and outlook but terrific technology lurks
The provider of sensor systems for the transportation and industrial markets announced interim results for the six months to 31st December 2014 reflecting a tough year for the Group and a proposed change in strategy. We just hope it isn’t all too late!
Total revenue was materially lower at £0.93m (H1 2014: £2.22m), reflecting restricted capital expenditure on the mining industry with the post-tax loss up materially to £1.72m (H1 2014: £0.084m). However, this is after one-off provisions and office relocation expenses. The Group has 2 trading divisions: Translogik - tyre management solutions IntelliSAW - continuous, wireless, passive critical asset monitoring systems for the electrical transmission and distribution industries Management commented how the move to offering Translogik’s iTrack system via a rental model is starting to gain some traction with the consequence that revenue will now be received on an on-going basis rather…