Last checked at 9 Aug 2012 07:00
Tracsis plc
Pre Close Statement
Tracsis, the developer and aggregator of resource optimisation, data capture and reporting technologies to the transport industries is pleased to update the market on trading for the full financial year to 31 July 2012, and also expectations for 2013.
In its trading update on 26 June 2012, the Group announced that forecast year-end revenues would be in excess of £8.5m (2011: £4.1m), with Adjusted EBITDA in excess of £3.0m (2011: £1.2m). The Group confirms that the year end results are expected to be in line with current analyst expectations.
The Group's cash position at the end of July was c. £7.5m. The business remains debt free.
After completion of the annual budget process for the year ending 31 July 2013, the Directors are confident of achieving further organic growth given the strength of the current sales pipeline, at both a revenue and operating profit level, albeit at a slower rate than that experienced in the financial year to 31 July 2012 unless new acquisitions are made. Growth by acquisition is a pivotal part of the Group's growth strategy. Whilst it has appraised numerous potential opportunities in the past year, none have met the strict criteria to pursue further although the pipeline of prospects remains strong.
The Group's full year results will be announced on or around Tuesday 30 October 2012.
John McArthur, Chief Executive Officer commented
"The past year has been significant for Tracsis and we have achieved both substantial organic growth plus growth in the businesses the Group has acquired. Looking ahead, we are confident that we will maintain and extend our position within the transport technology space and we welcome recent announcements made by both UK government and key clients regarding their continued investment into the transport sector at large."
For more information please contact:
John McArthur, Tracsis plc | Tel: 0845 125 9162 |
Katy Mitchell, WH Ireland Limited | Tel: 0113 394 6618 |
Rebecca Sanders Hewett/Jenny Bahr, Redleaf Polhill | Tel: 0207 566 6720 Tracsis@redleafpolhill.com |
Notes to editors:
§ Tracsis plc provides the transportation industry with tools to control and optimise critical aspects of resource optimisation and delivery with the ultimate goal of increasing efficiency, reducing cost and improving performance.
§ The Company addresses these issues through the following divisions:
o Application software - Tracsis has developed various products to optimise resources, capture data, manage the collated information and report and communicate performance.
o Embedded software - The Company provides condition monitoring and data logging equipment for the management and maintenance of infrastructure.
o Professional services - Tracsis advises on key operational and strategic planning problems, providing clients with efficient and best practice solutions to issues faced by transport operators and infrastructure owners.
§ The Company's clients include the majority of UK railway operators, including Network Rail, Virgin Group, Arriva and First Group. Tracsis also works with operators in Europe and Australia.
§ The business drives growth both organically and through acquisition.
§ Tracsis listed on AIM in 2007 under ticker TRCS.
§ For more information visit http://www.tracsis.com