Tracsis full year results show continued growth
Tracsis is pleased to announce its audited results for the year ended 31 July 2016.
- A further period of solid trading across the Group, with revenue increased 29% to �32.6m (2015: �25.4m)
- Cash balances at 31 July of �11.4m (2015: �13.3m) following acquisitions and investments - highly cash generative and the Group continues to be debt free
- Acquired businesses bedding in well and provided a positive contribution to Group revenues in the period + Acquisition of event traffic management specialists SEP Limited ('SEP') completed September 2015, which delivered a record year of trading, bolstered by a busy summer calendar and several intra-Group technology initiatives + Acquisition of software development and hosting business Ontrac Limited ('Ontrac') completed December 2015, which secured several major orders secured for its software products, hosting and bespoke development work
- Strategic investments made: + Mobile analytics firm Citi Logik Limited ('Citi Logik') made September 2015 + Mobile applications business Nutshell Software Limited ('Nutshell') made July 2016
- First sales achieved following investment in new software products TRACS Enterprise and Bugle Day One, provides opportunity to roll out to current clients
- Significant order secured post period end with a North American Class 1 railroad operator for Remote Condition Monitoring (RCM) hardware and software, illustrating that Tracsis has the capability and product set to address this large overseas market opportunity John McArthur, Chief Executive Officer, commented:
"Having put in place solid foundations at the beginning of the year with the Group's transactions and investments, the focus in the second half has been one of delivery. As a result the Group has achieved another set of positive results. These results include our most active transactional period to date with the acquisitions of SEP and Ontrac, both of which are trading well and have further bolstered our positive performance, and a further two investments completed. The result of these acquisitions made during the period, combined with good progress on new software development, has led to the Tracsis offering being significantly enhanced in terms of breadth and depth."