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LONDON (Alliance News) - Tracsis PLC said Tuesday it expects annual revenue "ahead of market expectations" after experiencing positive momentum in all parts of the group.
For the year to July 31, the provider of software services for the traffic data and transportation industry said it expects revenue at GBP40 million, up 16% from GBP34.5 million a year ago.
The company added that it expects earnings before interest, taxes, depreciation and amortisation and adjusted profit to be both ahead of market expectations and ahead of the previous year, which had come in at GBP8.5 million and GBP7.7 million respectively.
"Taken as a whole, the Rail Technology & Services division has performed well and continues to work on multiple large pipeline opportunities which we hope to secure in the coming year that will pave the way for further organic growth," the company said.
Meanwhile, Tracsis Traffic & Data Services division also "performed well" with a typically busy summer season, the company added.
"The group remains well positioned for further growth as we enter the new financial year, with a good pipeline of organic sales opportunities, mergers and acquisitions prospects and positive industry growth drivers," Tracsis said.
Tracsis shares were trading up 6.7% at 675.25 pence each.
