(Sharecast News) - Software firm Tracsis said on Tuesday that trading for the first half of the year had been in line with the expectations, with high activity levels seen across large parts of the group.
Tracsis expects group revenues to be roughly £22.0m, down from £26.4m a year earlier, with underlying growth in its rail technology and services division being offset by lower sales in the firm's events and traffic data business units due to ongoing Covid-19 related restrictions on their end markets.
While the overall impact of Covid-19 on first-half revenue was expected to be about £6.0m, Tracsis continues to expect activity levels in the events and traffic data business units to "progressively return to normal" as lockdown restrictions can be lifted.
Underlying earnings were also projected to be slightly lower than the £5.6m recorded in the first half of 2020 due to a larger proportion of revenue in the period coming from the higher-margin rail technology and services division and the positive impact of cost reduction actions taken in response to the pandemic.
Tracsis, which kept expectations for the year ending 31 July unchanged, will publish its interim results on 8 April.
As of 0900 GMT, Tracsis shares were down 1.22% at 650.0p.
Tracsis (TRCS)17 May 2024 15:43