Business
Trading Update and Notice of Results
Trading Update and Notice of Results.
About this update from Transense Technologies Plc
[{"type":"text","content":"\n \nRNS Number : 6691K Transense Technologies PLC 01 August 2013 \n\n1 August 2013\n Transense Technologies PLC\n(\"Transense\" or the \"Company\")\n \nNotice of Results and Trading Update\nTransense Technologies plc (AIM: TRT), the provider of sensor systems for the transportation and industrial markets, is pleased to announce that its results for the financial year ended 30 June 2013, are expected to be in line with market expectations and will be released on Monday 16 September 2013. \nTransense has made good commercial and operational progress over the twelve month period. Major highlights have included the first large-scale deployment of Translogik's iTrack mining tyre monitoring system at Anglo American subsidiary, Kumba Iron Ore in South Africa. Since that announcement, the level of enquiries regarding the iTrack system from around the world has risen significantly, and with a number of field trials already in progress, the Board is confident that further material deployments will follow.\nThere has also been a considerable increase in sales of the Translogik tyre inspection tools in the year, with the Company receiving its three largest single orders ever in recent months, from Dunlop Japan, and two of its value added resellers in North America and Europe. In addition to these record orders for iTrack and tyre probes, Translogik is also seeing a surge in enquiries for its RFID (Radio Frequency Identification) products and expertise, as the wide-scale adoption of tyre RFID systems with major tyre OEMs accelerates.\nThe Company's IntelliSAW division has completed a number of installations with highlights including a first full factory fit-out at the new state-of-the-art, Fuxin Special Steel Company (FSSC) Steel Plant in China, as well as POSCO in South Korea, the country's largest steel manufacturer, and major orders from Saudia Arabia and Taiwan. Additionally, multiple pilots are continuing supported by the Company's partners in various territories and are expected to lead to further orders in due course.\nThe Company completed a successful Placing and over-subscribed Open Offer in July 2013 which, together with a Further Placing, raised approximately £5m in aggregate gross proceeds to support this rapidly growing pipeline of business. This additional capital is being used to maximise the gro...