Tracsis sees abundance of opportunity in year ahead
TRANSPORT data software company Tracsis today said it believes the year ahead holds an abundance of opportunity for the group.
The Leeds-based business reported revenue exceeding £10m for the first time, an increase of 25% in its final results for the year ended July 31 2013.
Adjusted EBITDA rose 3% to £3.4m (2012: £3.3m), which is the second year in succession that the group has reported an EBITDA in excess of £3m. Statutory pre-tax profit fell slightly to £2.6m from £3m. The directors said they believe this continues to be a strong performance and are pleased with level of profitability generated in the period.
John McArthur, chief executive officer, said: “This has been a further year of growth for the group, which included the acquisition of Sky High. This significant milestone has increased the group’s scale and offering, and extended the group’s geographic footprint to Australia. We are also delighted, post year end, to have been selected to continue with the Framework Agreement for our condition monitoring technology.
“As an acquisitive business, we continue to evaluate opportunities that would fit the group whilst also driving organic growth. The potential for Tracsis overseas is significant, and we will continue to build on the presence we have in place.
“We look forward to the year ahead with optimism, and are confident it holds an abundance of opportunity for the group. Our progress this year, plus the return to stability within the rail industry and associated franchise renewal process, provides the group with a firm foundation for further growth and return for shareholders.”
Earlier this year, Tracsis bought fellow Yorkshire-based business Sky High, for around £3.28m. The group, which has historically been largely based in the UK with only a small amount of revenue derived from overseas customers, said that given the significant presence that Sky High already has in Australia, and coupled with this being a key target market of Tracsis, it anticipates a higher proportion of overseas work in the coming year.
