Tracsis Full Year Results Show Further Growth
Tracsis is pleased to announce its audited results for the year ended 31 July 2017
- A further period of good trading across the Group. Tracsis continues to trade well and remains highly cash generative with significant balance sheet strength.
- Revenue increased 6% to �34.5m (2016: �32.6m)
- Cash balances at 31 July of �15.4m (2016: �11.4m). The Group remains debt free
- Final dividend of 0.8p per share proposed (2016: 0.7p). Full year dividend increased 17% to 1.4p per share (2016: 1.2p)
- Significant multi-million pound contract win secured for TRACS Enterprise Software - largest software contract secured to date
- Recently-acquired businesses On-Trac and SEP trading well and above expectation
- Successful delivery of a North American contract for the Group's RCM technology
- Structural changes completed within Traffic & Data Services Division, which should be beneficial to margins
- Strategic investment in Vivacity Labs Limited, a machine learning software business operating in the field of transport and traffic analytics
John McArthur, Chief Executive Officer, commented:
"This was a further year of progress, consolidation and continued growth for Tracsis following the acquisitions of SEP and Ontrac, which have substantially increased the Group's product depth, breadth and client base. The Group has adapted well to the needs of our customers and we have made significant progress in product innovation whilst also building our team. Revenue and profit were both ahead of the previous year and the Group continues to benefit from a strong balance sheet as a result of excellent cash generation and sizeable reserves. The Group continues to hold a great position within our respective markets. Our financial strength coupled with favourable market conditions and good customer momentum provides a good platform for growth in the year to come.."