Tracsis PLC - Leeds, England-based traffic and transportation data services - Reports big jump in annual profit thanks particularly to strong revenue growth in its Rail Technology & Services division. Pretax profit in the financial year that ended July 31 is GBP7.1 million, more than doubled from GBP2.6 million in financial 2022, as revenue rises by 19% to GBP82.0 million from GBP68.7 million. The rail arm's revenue rises by 26% to GBP37.9 million from GBP29.9 million, while revenue from the Data, Analytics, Consultancy & Events division is up 14% to GBP44.1 million from GBP38.8 million.
Declares 1.2 pence final dividend, up 9.1% from 1.1p a year before, bringing the total annual payout to 2.2p, up 10% from 2.0p.
Expects financial 2024 performance to be in line with market expectations without stating what it believes these to be. Trading in the first quarter has started in line with expectations, but Tracsis says it expects financial 2024 growth to be weighted toward the second half.
Current stock price: 730.00p, up 2.1% in London on Wednesday
12-month change: down 15%
By Tom Waite, Alliance News editor
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Tracsis (TRCS)