‘Year of progress’ for Tracsis as revenues rise

Transport software company Tracsis has reported a rise in revenue in what it called “a year of progress” with strong trading across the group and its recently-acquired businesses trading above expectation.

For the year to the end of July, the Leeds-based group, which provides software and services for the traffic data and transportation industry, saw revenue increase 6% to £34.5m (2016: £32.6m) while adjusted EBITDA increased 11% to £8.5m (2016: £7.6m). Statutory pre-tax profit increased 14% to £4.6m (2016: £4.0m).

“Tracsis continues to trade well and remains highly cash generative with significant balance sheet strength. The group remains debt free,” the company said.

The period saw the company secure a multi-million pound contract win for TRACS Enterprise Software – its largest software contract secured to date.

Tracsis also said its recently-acquired businesses On-Trac and SEP trading well and “above expectation”.

John McArthur, chief executive, said: “This was a further year of progress, consolidation and continued growth for Tracsis following the acquisitions of SEP and Ontrac, which have substantially increased the group’s product depth, breadth and client base.  The group has adapted well to the needs of our customers and we have made significant progress in product innovation whilst also building our team.

“Revenue and profit were both ahead of the previous year and the group continues to benefit from a strong balance sheet as a result of excellent cash generation and sizeable reserves.
“The group continues to hold a great position within our respective markets. Our financial strength coupled with favourable market conditions and good customer momentum provides a good platform for growth in the year to come.”