Half year trading update

RNS Number : 0166L

Ubisense Group PLC

26 July 2011

 



26 July 2011

Ubisense

Half year trading update

Ubisense (AIM: UBI, 'Ubisense', 'the Group'), the market-leading location solutions company, has published a half year trading update for the six months to 30 June 2011. 

Trading has continued in line with the Board's expectations, as stated at the time of the Group's £8.7m fund raising and Admission to AIM on 22 June 2011.

Revenue for the first half was over 60% of the revenue for the whole of 2010 financial year. With a substantial order book and increasing customer interest in the Group's solutions, this robust performance is expected to continue in the second half of 2011, in line with the Board's expectations.

Ubisense has a strong balance sheet with net cash at 30 June 2011 of £8.0 million, having repaid the Group's debt facility with the net proceeds of the placing.

Ubisense expects to publish its interim results for the six months ended 30 June 2011 towards the end of September 2011

Richard Green, CEO of Ubisense, commented:

"The business continues to perform well across our key geographies and both divisions.

"Following the placing, we are now in a position to increasingly leverage our existing customer relationships with such global leaders as Aston Martin, Atlas Copco, BMW, Deutsche Telekom and EADS as well as develop new relationships with other similar blue-chip businesses.

"We expect to see continued organic growth in the second half of the year, while pursuing suitable opportunities for acquisitive growth."

Enquiries:

Ubisense www.ubisense.net
Richard Green, Chief Executive Officer	[phone]
Gordon Campbell, CFO
Canaccord Genuity Nominated Advisor and Broker Simon Bridges/Henry Fitzgerald-O'Connor	[phone]
College Hill	[phone]
Adrian Duffield / Jon Davies

Notes to editors

Ubisense is the market-leading location solutions company, delivering mission-critical enterprise asset tracking and geospatial systems that bring visibility and control to previously intractable business processes. The Group operates in two divisions, RTLS and Geospatial.

Through its RTLS division, Ubisense is a world leader in real-time location solutions allowing companies to track assets (such as tools, people and vehicles) within factories and other indoor environments in real time in three dimensions.  Ubisense's end-to-end RTLS solutions provide dynamic and precise indoor tracking of assets helping its clients, which are primarily in the automotive, aerospace and transportation industries, to bring visibility and control to business processes thereby helping to lower costs and drive logistical efficiencies. The Geospatial division uses Ubisense's expertise in location solutions to help large infrastructure companies, such as utilities and telecom companies, to map, plan, manage and optimise their networks across large geographic areas.

Ubisense is headquartered in Cambridge, UK and has offices in the USA; Canada; France; Germany; Singapore; and Korea. For more information please visit: www.ubisense.net

 

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