City briefs: Tracsis; Card Factory; and more
Tracsis, a provider of software, hardware and data analytics for the transport industry, expects group revenue to have increased to about £69m (2021: £50.2m) in its trading update for the year ended 31 July 2022.
The Leeds-based company says this reflects strong organic and acquisitive growth.
It says both its divisions have delivered high levels of revenue growth.
This includes a strong post-Covid lockdown recovery of activities in the Events and Traffic Data business units, contributions from the RailComm and Icon GEO businesses acquired in the year, and the initial benefit from the previously unveiled multi-year rail technology software contracts won during the year.
The group also expects its adjusted EBITDA to be ahead of market expectations.
Tracsis adds its cash balance remains strong at c.£17.2m (2021: £25.4m), which enables it to continue investing in its technology base and to support future organic and acquisitive growth opportunities.
Results for the year ended 31 July 2022 will be revealed on 9 November 2022.
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Wakefield-headquartered Card Factory has appointed Indira Thambiah to the post of non-executive director with effect from 1 September 2022.
She will be appointed as a member of each of the company‘s Remuneration Committee, Audit & Risk Committee and Nomination Committee.
She is an experienced multi-channel retail executive and consultant, with previous roles including head of multi-channel for Home Retail Group (Argos & Homebase) and vice president, Europe at online sales marketplace, Zulily.
Thambiah has successfully managed a number of private businesses, most recently Roof-Maker (CEO, 2018 to 2022).
She has also been an independent non-executive director and member of the Remuneration Committee at each of Superdry plc (2010 to 2013) and Yorkshire Building Society (2007 to 2010). Thambiah is a qualified Chartered Accountant.
Paul Moody, chairman, said: “We are pleased to welcome Indira to the Board of Card Factory plc.
“Indira brings extensive multichannel and retail experience, both nationally and internationally, with insights from a range of businesses which will benefit Card Factory and its board committees, as we pursue our strategic ambitions.”
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Sheffield and Leeds-based marketing and data science business, Jaywing, has appointed Christopher Hughes – currently its finance director – as its chief financial officer.
Ajay Handa, who has been acting as interim CFO since March, will complete his assignment at the end of August 2022, and Hughes will become CFO on 1 September.
Hughes is expected to join the Board in due course. He is ACA qualified, having trained with PWC in the UK. He has also worked with PWC in South Africa, and he previously held senior finance roles with Lowell Financial Ltd, prior to joining Jaywing in July 2021.
Andrew Fryatt, chief executive, said: “I would like to thank Ajay for his support over the last six months, and congratulate Chris on his appointment. I look forward to working with Chris in his new role to help us fulfil Jaywing’s potential.”
