("Tracsis" or the "Group")
Further to the announcement made on 1 June 2012, Tracsis confirms that its results for the year ending 31 July 2012 are expected to significantly exceed current market expectations. The directors believe that year end revenues will be in excess of �8.5m, with Adjusted EBITDA expected to be in excess of �3m.
This further upgrade is attributable to continued strong market demand for the Group's products and services.
The Group is currently undertaking its annual budgeting process for the year ended 31 July 2013 and will provide guidance to the market once budgets have been established. At this stage, the directors are confident that the current market forecast for 2013 will be revised upwards.
John McArthur, Chief Executive Officer commented:
"We are delighted with the Company's continued performance, achieving significant growth and at the same time delivering on several key product, customer and PLC milestones.
"We continue to solve problems that make a real difference to our customers - removing extraneous costs whilst at the same time improving performance. We are seeing our target markets respond in a very positive way to our efforts and what our broader product offering can provide."
For more information please contact:
John McArthur, Tracsis plc
Tel: 0845 125 9162
Katy Mitchell, WH Ireland Limited
Tel: 0113 394 6618