Tracsis secures 'significant' new contract

(Sharecast News) - AIM-listed Tracsis has signed a "significant" five-year framework agreement with a "major" train-owning group for its TRACS Enterprise product.The company, which provides software and services for the traffic data and transportation industry, said the agreement covers all of the operator's individual train operating companies within the UK plus other franchises that it may win in future. The total potential value over the duration of the agreement is expected to be multi-million pounds although given the 'call off' nature of the agreement, the number of modules used and the specific timing of implementation - and therefore revenue - is difficult to forecast with certainty. "However, the directors believe this is a key win for Tracsis that will lead to significant recurring revenue opportunities within the duration of the agreement and beyond," it said. "For the avoidance of doubt, at this point in time there will be no change made to current year forecasts."At 1100 GMT, the shares were up 3.4% at 615p.