Tracsis chief executive in £600,000 share sale

THE chief executive of transport technology company Tracsis has sold shares worth £619,080.

John McArthur disposed of 120,000 ordinary shares at 515.9p per share.

Mr McArthur still owns 1,062,783 shares representing 3.9% of the share capital of the Company.

Last month the company acquire IT solutions firm Ontrac for £19.5m.

Its most recent financial year, to July, showed a 14% increase in revenues to £25.4m with adjusted pre-tax profits increasing 16% to £5.8m.

In the last six months it has also bought traffic management firm SEP in a £2.6m deal and invested up to £1m for a 29.4% stake in mobile phone data analytics firm Citi Logik.

Tracsis is a 10 year-old University of Leeds spin-out and is still headquartered in the city, with eight other UK offices, and employs 400 people.