City Briefs: Tracsis and Softcat
Tracsis, a Leeds-based provider of software, hardware and services for transport industries, has been awarded two major rail contracts.
The first is a further deal for the provision of its TRACS Enterprise software product with another major UK rail operator.
The contract will be delivered over multiple years and is for several million pounds, which includes the renewal of some existing systems already licensed by the customer, plus significant levels of additional functionality.
While the contract will not have a major financial impact in the current financial year ending 31 July 2020, Tracsis says it helps to underpin its confidence for the future.
The listed firm’s second win is an order for the provision of remote condition monitoring technology, plus Tracsis’s associated Centrix software and related support services, to an existing customer.
This contract is for several hundred thousand pounds, and will be delivered over the coming months.
Chris Barnes, Tracsis chief executive officer, said: “We are delighted to have secured these major contracts with two major UK rail customers and look forward to delivering these projects in the months to come.
“The UK rail industry continues to adopt our award winning TRACS Enterprise software and remote condition monitoring technology, both of which can bring significant benefits to the operators.
“These latest wins are testament to the strength of our team and the quality of our market leading products.”
IT infrastructure technology and services provider Softcat says it has managed to smoothly move to remote working during the COVID-19 emergency.
The business, which has a regional office in Leeds, has published a trading update for the quarter ended 30 April 2020.
It says: “The company has traded satisfactorily during the period and delivered growth in revenue, gross profit and operating profit.
“Cash receipts from customers have remained broadly in line with normal trends.
“There remains a high degree of uncertainty in the coming months, and Softcat is not immune to the challenges faced by the wider economy.
“However, we have moved seamlessly to a remote working model and the Board is encouraged by the resilience of the business thus far.”