Tracsis delivers maiden dividend
TRACSIS, the developer of software for the passenger transport industry, has seen half year revenues and profits leap.
The Yorkshire business, which also provides remote condition monitoring technology and consultancy services, saw revenues over the six months to January 31 this year increase from £1.24m over the same period last year to £3.66m.
Adjusted EBITDA increased to £1.26m from £180,000, with profit before tax of £1.13m, up from £127,000.
The company today announced it was set to pay a maiden interim dividend of 0.2p per share and expects its full year performance to exceed market expectations.
The company is debt free, and has cash reserves of £5.95m and said it would continue to look at potential acquisitions.
Chief executive John McArthur said: “These interim results reflect the group’s continued growth and maturity as a diversified technology company with both revenues and profits increasing significantly against the same period last year.
“The contribution made by MPEC Technology has been a significant boost and we believe their success demonstrates increasing strength and depth with our market offering.
“Trading across the rest of the group has remained strong and Tracsis continues to boast a healthy balance sheet. We remain excited about further growth opportunities, both organic and by way of acquisition.
“As a result of recent trading, profitability and general outlook, Tracsis will initiate the start of a progressive dividend policy which our board believe is sensible and sustainable. This policy endorses our success achieved to date and also our strong belief in the future growth of the business.”
