Interims provide cheer for Tracsis

TRACSIS has seen half-year profits leap by 50% and said today it expects its growth to continue.

For the six months ended January 31, revenues at the Leeds-based data software company increased from £3.7m to £4.7m.

Pre-tax profits jumped 50% to £1.7m and adjusted EBITDA increased 49% to £1.9m.

Cash balances stand at £8.5m and Tracis is to pay an interim dividend of 0.3p per share, up 0.1p.

Over the half year Tracsis launched and won its first contract with a UK operator for its new rail freight product, FreightTRACS.

It expects to grow further internationally and said there had been strong demand for its passenger counting and analytics services.
 
Chief executive John McArthur said: “I am pleased to report further substantial growth in the period with all areas of the group performing ahead of the same time last year.

“In addition to winning several new contracts both in the UK and abroad, we have developed and launched a new software offering for the rail freight sector which has been sold to our first customer marking our entry into a new market.
 
“The group remains well positioned for further growth and continues to benefit from an excellent financial position, a diverse product offering to blue chip clients, and a healthy pipeline of acquisition prospects.”