Contract wins fuel progress at transport technology company
Transport technology provider, Tracsis, expects H1 FY25 revenues of about £36.3m (H1 FY24: £35.5m like-for-like), which it says reflects modest growth after excluding around £1.1m of discontinued H1 FY24 revenue.
In a trading update for the six months ended 31 January 2025 (H1 FY25), the business says it has achieved significant contract wins and made operational progress.
The Leeds-based company adds that its H2 FY25 revenue and EBITDA margin performance will strengthen, underpinned by its order book including recent contract wins.
Chris Barnes, CEO, said: “While external factors have slowed activity in parts of the UK rail market, the industry’s structural shift towards modernisation and digital adoption continues.
“Tracsis remains well-positioned to lead this transformation, meeting the growing demand for data-driven, customer-focused and safety-critical solutions.
“Our diversification strategy is steadily building momentum, granting us access to larger strategic opportunities.
“Our ability to win and deliver these complex, multi-year contracts has been enhanced by the investment we have made in technology and delivery capabilities.”
Tracsis says its robust cash balance and healthy cash generation position mean it is well placed to continue to invest in its technology base to drive organic growth while exploring targeted acquisition opportunities.
The business says its products and services are well aligned with the government’s strategic plans for the future of UK Rail, but notes a consultation is ongoing which may delay procurement timelines for future contract awards, particularly in Operations & Planning.
Tracsis says it has a large installed base of mission-critical solutions with UK train operating companies which drives significant recurring software revenue, and it does not expect this to be impacted by proposed government changes to the railways.
