Contract wins keep results on track for transport technology provider
Tracsis, which provides software, hardware and data analytics for the transport industry, has achieved robust revenue and adjusted EBITDA growth in its unaudited interim results for the six months ended 31 January 2022.
The Leeds-based business saw its revenue increase by 31% to £29.2m (H1 2021: £22.2m), while pre-tax profits rose by 16% to £1.3m (H1 2021: £1.1m).
Adjusted EBITDA was up by 14% to £6.2m (H1 2021: £5.4m).
Chris Barnes, chief executive officer, said: “We have seen strong revenue and adjusted EBITDA growth, and have made some important progress in executing our strategic growth agenda and converting our sales pipeline.
“We have won several multi-year recurring revenue software contracts and have a growing pipeline of other opportunities, which together leave us well placed to deliver further growth.
“The UK rail industry’s transition to a new Great British Railways structure is ongoing and the overall objective is to create a data-driven, customer-focused, safety-critical future for the industry.
“Our range of rail technology products and services is well placed to help the rail industry deliver its strategic goals.
“We will continue to pursue organic and acquisitive growth supported by a strong balance sheet.”
Tracsis adds that its Events and Traffic Data businesses have responded quickly to capitalise on post-Covid increase in demand, made possible by actions taken to safeguard these businesses during the pandemic.
It notes it has enjoyed an “encouraging” start to quarter three trading, with high activity levels across large parts of the Group, and is well positioned to deliver further growth in the second half and beyond.