Location technology firm expect poor performance
Location technology specialists Ubisense Group have blamed poor timing of some projects for lacklustre revenue and profitability.
Reporting on the full year to the end of December, the Cambridge-based geospatial technology business expected to deliver revenues down on the previous year, offset slightly by increased software sales that would improve margins.
Throughout the period, the Group secured contracts with major automotive manufacturer Daimler, and completed work with BMW, BAE Systems, Hyundai, Lufthansa and US Steel.
A strategic partnership with Swedish firm Atlas Copco instigated sales growth and introduced a number of high quality manufacturers including Audi, John Deere and Smart.
Richard Green, Chief Executive Officer, commented: “We are pleased with the progress seen in the second half which will allow the Group to deliver a robust performance for the full year. Momentum within RTLS continues which is reflected in our strong pipeline and order book.
“We remain confident about capitalising on the substantial opportunities we see in high value manufacturing in order to continue to drive growth for the Group.”
This was posted in Bdaily's Members' News section by Tom Keighley .