Ubisense in the News: Sharecast

Ubisense impresses with first listed result

By Michael Millar

LONDON (SHARECAST) - Software firm Ubisense topped analysts' expectations as revenues increased 41% to £11.3m in the first half of 2011.

However, the company reported a loss before tax of £0.32m after factoring in AIM admission cots. It will not pay an interim dividend.

Ubisense, whose technology allows companies to track assets, such as tools, vehicles and people in real time, raised £5m on AIM and listed in June.

The company said its RTLS tracking technology division continued to grow during the first half, winning business from both new and existing accounts, resulting in record first half revenue of £3.9m.

During the period it signed a global licence agreement with BMW to provide its RTLS solution to all assembly plants across the BMW Group.

It added that its Geospatial mapping division delivered significant growth in the first half, led by the sale of a newly developed product - FTTx Planning System - to Deutsche Telekom.

Chief executive, Richard Green, said Ubisense had strong momentum going into the second half of 2011.

"Revenue for the first half was 64% of the revenue for the whole of 2010 financial year," he said.

"With a strong order book and pipeline, this performance is anticipated to continue in the second half of 2011, in line with board expectations."

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