StockMarketWire.com - Tire pressure monitoring company Transense Technologies said it was loss-making in the year to date amid lower sales.

'The net loss for the current year to date is in line with the corresponding period in the prior year notwithstanding reduced overall group revenues,' chairman David Ford said ahead of the company's AGM.

The fall in sales reflected lower tyre probe and hardware sales, mitigated by growth in recurring subscription revenues.

Group trading results measured at the Ebitda, operating and net cash outflows levels each showed an improvement over the previous corresponding period.

'We continue to believe that the iTrack II system provides the most technologically advanced solution for mine haul truck TPMS globally and we are steadily increasing our market share,' Ford said.

'Good progress has been made in developing partnering opportunities to accelerate growth in this market, although there can be no certainty that such opportunities will come to fruition.'


At 9:08am: [LON:TRT] Transense Technologies PLC share price was -3.5p at 51p



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