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Transense Technologies returns to profit and announces share buybacks

23 February 2022
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Specialist sensor systems developer Transense Technologies has seen its shares accelerate after returning to profit and announcing plans for share buybacks.

The Bicester-based firm, which specialises in sensor systems for the automotive, aerospace and industrial markets, said half-year revenues rose by 35 per cent to £1.2 million.

And the company has turned around last year's loss of £0.05 million to report profits of £0.08 million.

In November the company announced the appointment of Nick Hopkins MBA (pictured) as chief operating officer, and Ryan Maughan FIMechE MSc as business development director.

Executive chairman Nigel Rogers, said: “These results further demonstrate the robust nature of our business strategy, with commercial income from royalties and probe sales increasing their contribution.

"These steady sources of revenue have enabled us to make further controlled investment into our SAW business, where the development of our capabilities continues in parallel with increasing prospects for future commercial success.

“The Board expects the company to continue on a high growth trajectory, with minimal additional spend and a consequential low downside risk profile.

"With the availability of uncommitted cash and a growing distributable reserves balance, the directors plan to initiate a programme of share buybacks to address the short term effects of current market conditions and protect prospects for the delivery of longer-term shareholder value.”

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country.

An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts.

Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.

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