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(Alliance News) - Tracsis PLC on Wednesday said revenue in its rail technology arm offset pain in its virus-hit events and traffic data businesses.
The Leeds-based traffic data and transportation services company said revenue in the year ended July 31 rose 4.7% to GBP50.2 million from GBP48.0 million.
Pretax profit increased 13% to GBP4.6 million from GBP4.1 million.
Revenue at the Rail Technology & Services division increased by 13% to GBP26.4 million from GBP23.4 million the year before. The unit provides services such as timetabling, planning and passenger analytics.
Tracsis says that Covid-19's impact in the unit was limited to "lower delay repay transaction revenues".
In the Data, Analytics, Consultancy & Events division, revenue decreased 3.3% due to the pandemic's impact.
"As anticipated, Covid-19 restrictions had a significant impact on the end markets of our events and traffic data businesses in the year. In both cases, demand for our products and services remains strong and we have seen activity levels progressively recover as restrictions have been lifted. Our primary objective throughout the Covid pandemic was to protect jobs and employee wellbeing, as a result of which we have been well positioned to respond quickly to this increase in demand," Tracsis explained.
Tracsis says it is not declaring a dividend, but it expects to restore a "progressive dividend policy" for the new financial year.
The group says that it is "well-positioned" to deliver further growth in the upcoming financial year due to "strong" end-market drivers and the company's products and services being "well-aligned" with them.
Shares in the company were 3.1% higher at 963.90 pence each in London on Wednesday afternoon.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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