Underwhelming trading update today before the AGM by Transense Technologies $TRT.L:

▫️Revenue +13% in the first 4 months of the current FY which is below Managements expectations

▫️iTrack royalty continues to rise, but more slowly than historic run rate

▫️Translogik & SAW revenues with no growth compared to prior period. Return to growth expected for 2nd half of the FY

▫️short-term orderbook indicate an upturn, therefore mgmt expects to meet expectations for the FY

▫️Profit before taxi increased threefold

▫️net cash of £1.72m

▫️no decision regarding the MoU with Parker Meggitt this year (previously they announced a decision until 31 Dec) due to organisational changes at Meggitt after the acquisition by Parker after the announcement of the MoU

▫️active recruiting to accelerate pipeline conversion

▫️new patents for SAWsense IP base

▫️company continues to buy back own shares

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