LONDON (Alliance News) - Tracsis PLC on Wednesday said it will deliver annual results in line with market forecasts despite a decline in profit in the first half.
The traffic data provider said pretax profit in the six months to the end of January totalled GBP2.1 million, down 11% from GBP2.4 million reported a year earlier, while revenue climbed by 3.7% to GBP18.8 million from GBP18.1 million.
Revenue from the company's rail software, hosting and consulting offerings was GBP7.9 million, up from GBP7.7 million reported for the same period in 2018, benefiting from high renewal rates for existing products.
Remote Condition Monitoring revenue of GBP2.0 million was also ahead of the previous year's GBP1.5 million, due to the end of Network Rail's control period 5 and a small contribution from overseas sales in the US.
Tracsis increased its interim payout by 14% to 0.8 pence a share from 0.7p paid the year prior.
"This was another busy period for the group and we have made good progress in delivering to our strategy of organic and acquisitive growth," said Chief Executive John McArthur.
"The directors are pleased with the results for the period and the business is well placed to deliver full year results in line with market expectations, with the second half of the year expected to be stronger given the seasonality in the business and the contribution from the newly acquired businesses," added McArthur.
Tracsis shares were trading 0.6% lower on Wednesday at 618.90p each.
Tracsis (TRCS)