Strong growth for Tracsis
A RISE in revenue and profit has led to strong growth for transport data software company Tracsis.
In its interim results for the six months ended January 31 2014, the Leeds-based business has today reported a 33% increase in pre-tax profit to £2.3m (2013: £1.7m), a 49% increase in adjusted EBITDA to £2.8m (2013: £1.9m) and a 109% rise in revenue to £9.8m (2013: £4.7m). Tracsis said full year results are expected to exceed current market forecasts.
John McArthur, chief executive officer, said: “We are very pleased to be reporting another period of strong growth with both revenues and profit significantly ahead of the same period last year.
“Our technology and services remain as relevant as ever, with the past six months seeing a marked increase in demand across all areas of our business. Our sales pipeline remains strong with promising opportunities, including a North American pilot for our RCM technology and further UK and overseas opportunities.
“The enlarged group now includes Sky High Technology, which was acquired in April 2013 and we have since realised key synergies and the business has performed well. The group also remains committed to a strategy of careful acquisitive growth and has continued to evaluate a number of opportunities in the period.
“I am pleased to report that the board is confident of exceeding current market expectations for the full year and looks forward to continuing to drive growth and value for shareholders.”
This morning, Tracsis also said it continues to actively source and appraise new opportunities that meet with the investment criteria of the board.
“During the past six months multiple opportunities were assessed and the directors believe the opportunity for further accretive growth via acquisition remains as positive as ever,” the group said.
