Mini a growth driver for Ubisense

Ubisense delivered an ebullient tone in its first set of full year results since listing on the stock market last year with revenues up 34.4 per cent to £23.8 million (2010: £17.7m).

It has certainly been 12 months to remember. As well as the oversubscribed IPO, Cambridge's first new technology listing in six years, Ubisense has made two acquisitions, InMaps and Realworld and signed several new contacts and licence agreements with major blue chip companies including BMW, EADS, Eurocopter, Toyota and Hyundai.

Today it announced a deal with another BMW outfit, Mini, which will use it in its Oxford car plant.

At £2.20 a share, the price is 11 per cent above its listing price and the same price as it was in the days following the IPO, despite several peaks and troughs in between. Its share price remained relatively flat on news of the results and new contract.

"2011 was a tremendous year in our history," said Ubisense CEO, Richard Green. "We start 2012 with a record order book and expect 2012 to be another strong year for Ubisense."

The company's chairman and a key figure in the Cambridge Phenomenon, Andy Hopper, said it had been a year of remarkable progress: "Since the IPO in June 2011, the Group has shown solid forward momentum to deliver a strong financial performance at our maiden full year results as a listed company."

Hopper added that the in the period since the year end, trading has been in line with the board's expectations and is ahead of the prior year.

 

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