Tracsis 2018 results show continued growth
08 November 18
Tracsis is pleased to announce its audited results for the year ended 31 July 2018.
- Strong performance from our Rail Technology & Services division which included ongoing delivery of our largest software contract to date with a major UK TOC
- Good growth within our Traffic & Data Services division as a direct result of our technology and people strategy employed last year
- Successful acquisitions of TCS and DRS which offer growth opportunities within the travel delay repay sector
- Continuation of strategic investment and partnership with Vivacity Labs
- Revenue increased 16% to £39.8m (2017: £34.5m)
- Cash balances of £22.3m (2017: £15.4m)
- Full year dividend increased 14% to 1.6p per share (2017: 1.4p)
- Significant two year hosting and licence deal agreed with major rail customer
- Exercise of warrant instrument in Vivacity Labs. Equity holding increased to 28%
- John Nelson (NED) retired from the Board to be succeeded by Mac Andrade, an experienced rail industry professional
John McArthur, Chief Executive Officer, commented:
"The last 12 months has been another great year for Tracsis on multiple fronts, with strong organic growth and financial performance coupled with progress in improving our operations, building our senior team and further investment in our technology and product base. This was capped off by an exciting acquisition in a related transport sector which we feel is poised for significant growth in the near term. The traffic and transport markets are undergoing well publicised and rapid change and I am confident Tracsis is well positioned to meet the challenges and opportunities this brings."