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Specialist sensor system developer Transense Technologies swung to a modest first-half profit after it its boosted sales.
Net profit for the six months through December amounted to £0.05 million, compared to a year-on-year loss of £1.19 million.
Revenues from continuing operations climbed to £0.90 million, up from £0.28 million.
'These results reflect the transformational change in the business since the transactions completed last June, moving iTrack from an operational business into a licence model last June,' executive chairman Nigel Rogers said.
'We have every confidence that iTrack will continue to achieve increased market penetration, and deliver royalty income at or above our current expectations.'
'The commercial prospects for our SAW technology have been revitalised after strengthening the management team, and enlisting the support of key opinion leaders through the SAWCAP initiative.'
'Whilst it may take some time to determine the true value potential of this technology, we are encouraged by the early progress that is being made.'
'In addition, the Translogik range of tyre probes continues to gain traction and is showing further potential for healthy revenue growth.'
'Accordingly, we consider that the outlook for the company is positive, and prospects for the company and its shareholders are more favourable than at any time in the Company's history.c
At 9:41am: (LON:TRT) Transense Technologies PLC share price was 0p at 55p