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Sensor system provider Transense Technologies said it expected to swing to a full-year profit, with sales in line with market expectations.
The company said it expected to post a profit for the year through June at both the earnings before interest, tax, depreciation and amortsiation (EBITDA) and net profit levels.
Revenue was expected at around £1.8 million, compared to revenue from continuing operations posted in the previous year of £0.6 million.
Net cash balances at 30 June were £1.04 million, compared to £1.19 million a year earlier.
'The operating cash flow for the full financial year is expected to be positive before movements in working capital,' Transense said.
'Royalties for the final quarter of the financial year are not reflected in the year end cash balance as they are not payable until July 2021, thereby further demonstrating the company's increasingly strong financial position.'