Last checked at 4 Feb 2014 07:00
Tracsis plc
("Tracsis" or the "Group")
Interim Trading Update
Tracsis plc, a leading provider of software and technology led products and services for the transportation industry, is pleased to provide an update on trading ahead of the release of its interim results for the six months to 31 January 2014.
Trading has been strong in the first half of the financial year with revenues expected to be in excess of £9m (2013: £4.7m). Both revenue and profit are in line with expectations. The Group's balance sheet remains strong with cash balances in excess of £7m and the Group remains debt free.
Sky High, which was acquired in April 2013, made a significant contribution to the overall Group. The integration of this business is progressing well and is expected to be complete by financial year end.
In January, the Group announced a significant order for its condition monitoring technology with a major UK client. Delivery of this is under way and will be completed during the current financial year. In addition, the Group's North American pilot for this technology, announced in November 2013, is progressing to plan.
The Software and Consultancy business has been working extensively on rail re-franchising bid work following the revised timetable issued by the DfT and there is good visibility on workload over the coming months. The Group also converted 100% of its software renewals for H1.
The Board intends to recommend an interim dividend in due course as part of its progressive policy.
For more information please contact:
John McArthur/Max Cawthra, Tracsis plc | Tel: 0845 125 9162 |
Katy Mitchell, WH Ireland Limited | Tel: 0161 832 2174 |
Rebecca Sanders Hewett/Jenny Bahr, Redleaf Polhill | Tel: 0207 382 4730 Tracsis@redleafpr.com |
Notes to editors:
§ The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.
§ Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers.
§ The Company offers the following services:
- Software and technology led consulting: Industry strength resource optimisation software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon.
- Remote Condition Monitoring: Technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.
- Data Capture: Collation and analytical services within traffic and pedestrian rich environments.
§ Tracsis has a blue chip client base which includes the majority of UK transport operators such as Arriva, First, Stagecoach, Go-Ahead, National Express and Virgin. The business also works extensively with Network Rail, the Department of Transport, multiple local authorities, and a variety of large engineering/infrastructure companies.
§ Tracsis has offices in the UK and Australia which service projects in Europe and Australasia.
§ The business drives growth both organically and through acquisition and has made five acquisitions since 2008.
§ Tracsis listed on AIM in 2007 under ticker TRCS.
§ For more information visit http://www.tracsis.com