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LONDON (Alliance News) - Tracsis PLC on Wednesday reported a rise in profit in its last financial year as it demonstrated revenue growth in three of its four business areas.
Tracsis, which provides software and technology-led products and services for the traffic data and transportation industry, reported a 6% rise in pretax profit in the year ended July 31 to GBP4.5 million from GBP4.2 million the year before. Revenue increased 14% to GBP25.4 million from GBP22.4 million.
The company said the growth in revenue beat its original expectations, while adjusted pretax profit of GBP5.8 million, up from GBP5.0 million the prior year, was ahead of market expectations of GBP5.5 million.
Sales grew in each of the Software, Professional Services and Traffic & Data Services divisions, but the Remote Condition Monitoring division experienced a fall in sales following a "very strong" performance in the comparative period.
Tracsis will pay a total dividend of 1.0 pence for the year, up by a quarter on the previous year's 0.8p.
"Looking ahead, Tracsis remains well-placed to benefit from a growing UK traffic and transport industry and will continue to develop our overseas footprint which we believe remains a significant opportunity for the future. In the meantime we will, as ever, continue to diversify our technology portfolio through working hand in glove with our customers and making the right acquisitions as and when these present themselves," the company said in a statement.
Shares in Tracsis were trading down 1.9% at 434.00 pence Wednesday morning.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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