(Sharecast News) - Software and hardware provider Tracsis witnessed strong trading in its recently wrapped up trading year, with its second-half performance being "particularly pleasing".
Tracsis said on Tuesday that revenues, earnings before interest, tax, depreciation and amortisation and adjusted earnings were all expected to be in line with market expectations and ahead of the prior year.
The AIM-listed group also said it had experienced "a good mix" of organic and acquisitive growth across the company.
Cash balances remained strong at £24m, despite paying £9m to cover its three acquisitions made in the year. Tracsis remained debt-free.
On a performance basis, growth in its infrastructure division was driven by high demand from a key UK customer and the heavy investment made into its technology base. Tracsis' traffic and data services unit also performed well, supported by the acquisitions of Compass Informatics and Cash and Traffic Management.
Highlights within the firm's rail technology and services wing included the acquisition of Bellvedi, a specialist in timetabling optimisation software, and a five-year framework agreement secured with a major train owning group.
As of 1340 BST, Tracsis shares had climbed 6.58% to 631.50p.
Tracsis (TRCS)17 May 2024 15:43