Ubisense, the AIM-listed provider of real time location intelligence technology, has issued a trading update for the year to the end of December 2013. The second half of the year was a period of particular momentum, with the signing of two notable contracts – announced shortly before Christmas (see Early Xmas presents for Ubisense). The Group also says it has achieved record orders for the year totaling £32m, up 30% on the previous year. The indicators appear more positive than in FY12 when Ubisense saw its revenue decline 7% (organic) and marginal profits from FY11 (£34k) swing to a £638k loss (see Ubisenses a better year ahead). For FY13, the company now expects to deliver results in line with the Board's expectations.
As for the acquisition of its partner in Japan, Geoplan– announced earlier in December 2013 (see Ubisense senses Asia opportunity with Interworks) – that is “progressing smoothly”. The enlarged business has experienced “solid early sales engagements with major industrial groups in Japan and Korea”. At the time we expressed our concern that this move could prove to be a distraction for the firm, because owning a Japanese company is not the same as partnering with one. The intial indicators thus far are positive, but it is still very early days.
Ubisense expects to report its FY13 final results on the 25th March.