Tracsis shares rise as it expects earnings ahead of expectations

Wed, 24th Aug 2022 10:13

(Alliance News) - Tracsis PLC shares rose on Wednesday after the company said it expects full-year earnings ahead of expectations and strong revenue growth.

Shares in the company were trading 4.7% higher at 1,057.00 pence each in London on Wednesday morning.

The Leeds-based traffic data and transportation services firm expects to report revenue of GBP69.0 million for the financial year which ended July 31. This would represent a 37% increase from GBP50.2 million the year before.

Tracsis attributed this to strong organic and acquisitive growth.

Further, it cited a good recovery from Covid-19 in its Data, Analytics, Consultancy & Events, as well as its Rail Technology & Services divisions, which recorded "high levels of revenue growth".

Tracsis expects its adjusted earnings before interest, tax, depreciation and amortisation to be ahead of market expectations. In financial 2021, the company reported adjusted Ebitda of GBP13.0 million.

By Abby Amoakuh; abbyamoakuh@alliancenews.com

Tracsis