Transense Technologies plc (LON:TRT), the AIM listed company focused on patent-protected sensor systems and supporting technology is pleased to provide a trading update for the year ended 30 June 2017.
The trading results for the year ended 30 June 2017 are expected to be marginally ahead of the Board’s expectations as revised on the release of the interim results in March, with revenues of approximately GBP2M, and closing cash balances of GBP2.5M.
In addition, the Company announces the appointment of Beaufort Securities Limited (“Beaufort”) as joint broker to the Company to improve the service available to the large group of private investors interested in Transense. Beaufort look forward to marketing Transense to its network of UK retail and HNW investors, including providing retail tailored research on Transense as part of its ongoing services to the Company.
Graham Storey, CEO of Transense, commented: I am delighted that the new iTrack II is gaining traction as evidenced by the recent announcements relating to Glencore and that our numbers are ahead of expectations. The appointment of Beaufort fits perfectly with our marketing strategy to open up Transense to a wider investment audience and enhance communication with our current retail shareholders.