Revenues up 10 per cent for FY23 at Bicester’s Transense Technologies
Transense Technologies, a Bicester-based provider of specialist sensor technology and measurement systems, has reported revenues of £1.81 million for the year ended 31st December 2023 – up 10 per cent on the previous year.
The firm’s EBITDA has also more than doubled to £0.74 million thanks to the success of both its Translogik tyre inspection tools and SAWsense, which measures the torque, temperature, force, and pressure of moving components.
Over the past year, Transense has engaged with tyre manufacturers, maintenance management software providers and UK-based fleet groups to create new sales channels for Translogik, following a number of successful product demonstrations.
Visit Hampshire Biz News for bright, upbeat and positive business news from the county
Meanwhile, SAWsense has seen a record number of high-quality customers and been put to use in eight active development programmes – including four in aerospace, two in automotive edrives, and one in robotics.
Nigel Rogers, executive chairman of Transense, said: “The company has continued to make progress in the Period, increasing revenue by 10 per cent and net profit before taxation by 146 per cent.
“The board considers it appropriate to proceed with planned increases in overhead in the second half of the year to ensure that the generation and delivery of planned revenue growth is properly resourced.
“Pipeline activity across both Translogik and SAWsense provides confidence that this is deliverable in coming months.
“While it is appropriate to manage a modest reduction in short term profit expectations due to the carryover of this investment cost into the following financial year, the board believes the company is increasingly well positioned to deliver medium and long term growth.”
Read more - Oxford Medical Simulation brings in US$12.6M to advance virtual reality training
