Tracsis on track as acquisition outperforms

Tracsis, the travel infrastructure and data business, has said that its latest acquisition has helped push revenues up 20% in the last six months.

Revenue for the six months to January 2017 increased 20% to £15.6m, from £13.1m the year before.

Pre-tax profits at the Leeds-based group also increased slightly on the same comparative period, reaching £1.8m, up from £1.6m the year before.

Tracsis anticipated that the second half of the year would be even stronger.

The company said its Ontrac acquisition, which was bought in December 2015, was performing well ahead of expectations.

Revenues from Ontrac were £2.7m, up from £500,000 in the same period last year, reflecting a full six month period of ownership. The business continues to work extensively within UK Rail, and Tracsis said it remains confident on the prospects for this business.

John McArthur, chief executive officer, commented: “This was a period of further growth with revenues and profits ahead of the previous year and a good contribution from the businesses we acquired in 2015.  The second half of our financial year is expected to be significantly stronger than the first due to natural seasonality within the Group combined with anticipated new software sales.

“Tracsis continues to evolve and grow and the past six months have seen us undertake some significant technology, people and process improvements to accommodate a larger, more diverse business. The results of our efforts put Tracsis on stronger, more integrated footing for the future.”