Transense Technologies reports strong growth in trading update

By Tom Kilkelly

30 November 2023

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Transense Technologies, the Bicester-based provider of specialist sensing solutions and measurement systems, has announced its trading update for the first four months of the financial year to 30 June 2024.

The company reported strong growth, with revenues in the period growing by 13 per cent. With this being said the Board has announced that revenue was actually lower than expectations, despite this growth.

According to the company 'Unaudited proft' had increased 'threefold', but no specific figures were released.

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The company's performance has been attributed to a number of business moves, including the signing of an MOU last year with Meggitt SA. Meggitt has since been acquired by Parker, which gives Transense even more room for expansion via the new networking opportunities.

A spokesperson for the company said: ''Transense has made excellent progress in the broader aerospace market, where the Company is now engaged directly with a number of additional engine and air frame manufacturers.

''Since the announcement of a £0.65 million share buyback programme on 27 September 2022, the Company has acquired 528,000 shares to be held in treasury at a total cost of £0.47 million. The remainder of £0.18 million is available for further such purchases, subject to shareholder approval at today’s AGM.

''The Board is pleased with the momentum in the ongoing commercial pipeline, both for SAWsense and Translogik, which provides confidence in the prospects for the current financial year and beyond.''

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.