LONDON (Alliance News) - Tracsis PLC on Wednesday hiked its interim dividend despite acquisition and investment costs pushing down pretax profit for the period.
The company, which makes software for the traffic data and transport industries, said its pretax profit for the six months to the end of January was GBP1.5 million, down from GBP2.5 million a year earlier due to costs related to a series of acquisitions made in the half.
The company acquired event traffic management firm SEP Ltd and software developer Ontrac Ltd in the half, plus an investment into mobile analytics company Citi Logik Ltd.
Stripping out the one-offs, pretax profit for the group was flat at GBP3.2 million.
Revenue rose to GBP14.3 million, up 19% from GBP14.3 million a year earlier, amid solid trading across the group, with growth organically and via the acquisitions made. Tracsis said it is well-positioned to deliver full-year results, for the year to June 30, in line with market expectations.
The company will pay a 0.5 pence interim dividend, up 25% year-on-year.
"Following new product initiatives coupled with the acquisitions made, our technology and service offerings have been significantly broadened and we look forward to seeing the benefit of this in the second half of the financial year and beyond," said John McArthur, Trascis's chief executive.
"Given the continued strength of our balance sheet and operating in core markets that continue to grow, we remain well positioned to deliver full year results in line with market expectations," he added.
Shares in Tracsis were down 2.5% to 497.25p.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Tracsis (TRCS)