Transense Technologies swings to profit and announces share buy-back programme

Shares in Transense Technologies, the Bicester-based developer of specialist sensor systems, jumped this week after the company announced revenues of £2.63 million – up 49 per cent on last year – and a £650,000 share buy-back programme.

Pre-tax profits were up £268,000 against a loss of £157,000 the previous year.

The company said it has made good progress in developing each of its three business segments.

Executive Chairman Nigel Rogers, said: “The annualised rate of iTrack royalty income now exceeds £2 million, which more than covers the fixed overhead costs of the company, and Translogik probes revenues are approaching £1 million per annum with ample scope for further growth.

"We are now also achieving real traction with SAW technology across our target industry sectors, illustrated most recently with the collaboration with Meggitt in aerospace, supported by a growing pipeline of new potential customer engagements.

“The directors are confident that the company’s business model is resilient, that further increases in profitability and cash flow are deliverable, and that the long term prospects for the company continue to build.”