Tracsis, a leading provider of software, hardware and services for the rail, traffic data and wider transport industries, is pleased to announce its audited results for the year ended 31 July 2019.
Completion of three acquisitions in the period to enhance the overall product and service offering, all of which have contributed to the Group since ownership: Compass Informatics Limited (“Compass”); Cash & Traffic Management Limited (“CTM”); and Bellvedi Limited (“Bellvedi”),
Five-year Framework Agreement secured with a major Train Owning Group for our TRACS Enterprise product – Tracsis’ largest software contract to date
Continued high levels of recurring revenue across all of our software products
Strong trading in our rail infrastructure businesses – MPEC (Remote Condition Monitoring Hardware and Software) and Ontrac (Safety and Risk Management Software)
Continued margin improvement within our Traffic & Data Services division with an increased focus on data analytics and a stronger technology offering
Chris Barnes succeeded John McArthur as Group CEO, with the transition now complete
Revenue increased 24% to £49.2m (2018: £39.8m)
Cash balances of £24.1m (2018: £22.3m)
Full year dividend increased 13% to 1.8p per share (2018: 1.6p)
Chris Barnes, Chief Executive Officer, commented:
“In my first report as the new CEO, I am delighted to present these results which show good growth for the Tracsis Group compared to the previous year. The results reflect the impact of the acquisitions that we have completed in the period along with strong organic growth, something which is a key focus as we look to increase collaboration and expand our product offerings across the Group. The acquisitions we have completed in the year will have a full impact in the next year, and combined with the strong pipeline of organic sales opportunities provide a good platform for future growth of the business in the years to come. I have inherited a great business, with a wide range of compelling product and service offerings, a great team of colleagues, an excellent blue-chip client base, and I am excited about the prospects for the Group.”
