Transense Technologies FY trading in line with expectations

Sensor systems provider Transense Technologies said on Monday that the group's performance in its recently wrapped up trading year had been in line with market expectations.

Transense anticipates revenues of approximately £1.8m for the twelve months ended 30 June, leading to a profit at both underlying earning and after-tax levels.

The AIM-listed firm said net cash balances at the end of the financial year were £1.04m, down from £1.19m a year earlier, while the company's operating cash flow for the full year was expected to be positive before movements in working capital.

Transense highlighted that royalties for the final quarter of the year were not reflected in its year-end cash balance given that they were not payable until July.

"Overall, the board is satisfied with the company's progress and looks forward to providing further details in the final audited results for the year to 30 June 2021, which are expected to be released in late September," said Transense.

As of 1020 BST, Transense shares were up 5.68% at 93.0p.