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EYEBROW

29 September 2017
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EYEBROW

26 September 2017

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Mets Investor > Stocks-market-insight

Transense fortunes may have turned

London broker SP Angel is the latest to quietly suggest investors have a look at the progress being made by AIM-listed Transense Technologies (LON: TRT), a microcap building off a tiny sales base but one portending strong growth to come in 2018 on the back of some significant contract breakthroughs.

Staff reporter

Mets Investor > Stocks-market-insight

Transense fortunes may have turned

London broker SP Angel is the latest to quietly suggest investors have a look at the progress being made by AIM-listed Transense Technologies (LON: TRT), a microcap building off a tiny sales base but one portending strong growth to come in 2018 on the back of some significant contract breakthroughs.

Staff reporter

Transense fortunes may have turned

The Oxfordshire-based company is working on applications of its Surface Acoustic Wave (SAW) wireless monitoring technology with British automaker McClaren and is developing a wireless, real-time torque measurement system with General Motors. It has also picked up orders for its wireless earthmoving tyre conditioning monitoring technology from big miners in Chile, Australia and now Kazakhstan.

Eurasian Resources Corp said this month it was deploying Transense technology in its US$10 million investment in ‘Smart mine' systems at the Kacharsky iron ore mine in Kazakhstan. Investors should take a look at Transense, SP Angel analyst John Meyer suggested.

The company's share price has had a bumpy ride over the past 12 months. Down 28% over that period, it hit a high of 109p in February and was at 75p earlier this month, but traded down to 68p at the end of last week. Transense had a market capitalisation of £6.77 million at the end of the week.

Its sales were moreorless flat this year versus FY16 at £2.00 million, and a pre-tax loss of a similar magnitude was booked as a result of heavy investment in R&D.

At this year's company AGM, Transense executive chairman David Ford said the company's two business units had gained "commercial traction which the board expects to lead to increased revenues in 2018 and beyond".

Transense signed a "significant, non­exclusive, licence with General Electric for single specialist  application using SAW technology [and oversaw the] market launch of the iTrack II system for mining productivity".

Ford said the iTrack II product was demonstrating commercial success with its adoption by major global mining companies such as BHP and Glencore.

"Since the beginning of the new financial year on 1 July 2017, revenues have shown a significant increase on the run rate of the prior year," he said.

"iTrack II was adopted by two Glencore mines in Australia during June 2017, and in early August 2017, a further Australian mine operated by BHP. These systems are now in implementation, and revenues have commenced.

"During the year, several multinational tyre manufacturers have commenced the implementation of new software platforms that have been integrated with the [condition monitoring] probe and it has become clear that our product is the tread depth tool of choice for Bridgestone, Goodyear and Continental, amongst others and as a result our probe revenue in the final quarter of the year experienced a marked upturn."

 

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