In a statement, the company, which makes sensors like tyre pressure sensors for cars and trucks, said it expects its revenue in the year to end-June to be no less that
"At that time, management information indicated that growth in the second half of the year would enable full year expectations to be met. However, the length of the sales cycle has proven greater than expected. Essentially all of the unconverted sales prospects that formed the basis for market guidance remain active and we remain confident that we will continue to achieve substantial increases in turnover year-on-year," the company said.
The company had previously expected to breakeven at the Ebitda level in the current financial year, but said the revenue shortfall compared with previous expectations means it will now make a loss. Still, it expects that loss to be less than half the
"The pipeline includes a number of substantial potential new orders at an advanced stage of discussion. As the installed base of customers continues to grow,
Still, it said its cash position remains strong at
It will put out its results for the current financial year in September.
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