Tracsis is pleased to announce its interim results for the six months ended 31 January 2017
- Revenue increased 20% to £15.6m
- Cash balances at 31 January of £12.7m. The business remains debt free with excellent cash flow and cash conversion
- Recently acquired businesses performing well and ahead of expectations
- Completion of significant operational improvements in our Traffic and Data division
- North American remote condition monitoring order announced August 2016 successfully delivered, and provides a platform for further opportunities
- Successful renewal and expansion of major data capture contract with a value up to £4.8m over four years
John McArthur, Chief Executive Officer, commented:
“This was a period of further growth with revenues and profits ahead of the previous year and a good contribution from the businesses we acquired in 2015. The second half of our financial year is expected to be significantly stronger than the first due to natural seasonality within the Group combined with anticipated new software sales. Tracsis continues to evolve and grow and the past six months have seen us undertake some significant technology, people and process improvements to accommodate a larger, more diverse business. The results of our efforts put Tracsis on stronger, more integrated footing for the future."
