Tracsis looks ahead to its exciting opportunities
TRACSIS has today said it is excited about future opportunities as it predicted revenues will top £10m this year thanks to the acquisition of Sky High.
The group today said that revenues for the year ending July 31 2013 are forecast to be in excess of £10m and underlying profits will be in line with previous market expectations.
Earlier this year, the Leeds-based transport data software company bought fellow Yorkshire-based business Sky High, for around £3.28m.
Tracsis said the integration of Sky High is underway and progressing well and it expects it will make a good contribution to the group’s overall performance for the period to July 31 2013.
Chief executive officer, John McArthur, said: “The progress made since the acquisition of Sky High has been very pleasing and we are excited by the opportunities presented to us in the new markets using technology and services familiar to us.
“We look forward to updating the market in due course on further developments and in concurrence with the positive industry indicators, we will work to drive further shareholder value through organic growth and acquisition.”
Tracsis said its condition monitoring area of the business has performed “extremely well” during the current financial year and has secured strong orders from outside of the framework agreement.
The business has also announced that it is currently involved in negotiations with a major customer to continue the next phase of a significant framework agreement for its condition monitoring technology and also said the next few years should be a period of stability in the consultancy and software areas and allow the group to invest in a broader range of products and services.
