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Highlights
- Transense Technologies posted a4% YoY surge in top-line business in H1 FY24.
- As of 31 December 2023, net cash position of the company improved to £1.31 million from £0.98 million as of 30 June 2023.
- TRT’s profit before tax increased to £0.63 million in H1 FY24, marking a massive jump of over 146% over the previous corresponding period.
FTSE AIM All-Share listed Transense Technologies PLC (LSE:TRT) is a provider of specialist sensor technology and measurement systems.
In the first half of the fiscal year 2024, Transense Technologies witnessed a 10.4% year-on-year (YoY) surge in top-line business. Its earnings per share increased by 72.8% in the reporting period. As par the company, the revenue growth is attributable to the Bridgestone iTrack, as well as the growing pipeline activity at Translogik.
As of 31 December 2023, net cash position of the company improved to £1.31 million from £0.98 million as of 30 June 2023. Notably, net cash position grew to £1.91 million, as of 31 January 2024.
TRT’s profit before tax increased to £0.63 million in H1 FY24, marking a massive jump of over 146% over the previous corresponding period.
TRT has a net cash of £1.31 million as of 31 December 2023.
For the second half of the fiscal year 2024, TRT has plans for higher investments in business development and engineering recruitment. Additionally, it will make some moves towards investments in commercialisation at SAWsense and grabbing opportunities for Translogik to expand in to more sectors of the market.
Also, the growing customer base and decreeasing concentration risk is supporting the visibility of SAWsense revenue. Overall, the company believes that it is well placed to achieve medium and long-term growth.
Top 10 Shareholders:
Around 46.35% of the total shareholdings is held by its top ten shareholders. While Criseren Investments Limited is the biggest shareholder with 10.49% shareholding, Dowgate Wealth Limited is the second biggest shareholder with approximately 9.02% shareholding in TRT.
Stock Price Performance
TRT’s stock price has gained over 1.58% in the last one month. It has jumped by more than 2.09% over the last six months. The stock’s 52-week low and high price stand at GBX 77.00 and GBX 120.00, respectively.
Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 19 February 2024. The reference data in this report has been partly sourced from REFINITIV.
