Tracsis (AIM: TRCS), a leading developer and consolidator of resource optimisation software, condition monitoring technology, and consultancy services to passenger transport industries, is pleased to issue the following trading update, ahead of its interim results for the six months ended 31 January 2013.
Group trading in the six month period has been buoyant, with revenue expected to be in excess of �4m (H1 2012: �3.7m). It is expected that both Adjusted EBITDA and Profit Before Tax will both be ahead of the same period last year and, accordingly, trading is in line with expectations.
The Balance Sheet remains robust, with cash balances in excess of �8.5m and the Group remaining debt free. As part of our commitment to a progressive dividend policy, the Board intends to recommend an interim dividend in due course.
The Group looks forward to the outcome of the Brown review which will determine how and when rail franchising activity returns to normal. The Directors believe the Group remains well positioned for future growth and continues to benefit from an excellent financial position, a diverse product offering, and a great pipeline of acquisition prospects that will stand Tracsis in good stead for the future.
John McArthur, Chief Executive Officer commented
"The Group has produced further growth in the period and is trading in line with expectations at the half year point.
"There is still a lot to be delivered in the months ahead but the Directors remain cautiously optimistic. We will continue to pursue our stated strategy and we feel confident of achieving further growth this year."