Regulatory news

Regulatory news

Final Results

Tracsis plc

Final Results for the year ended 31 July 2013

24 October 2013

Tracsis plc, a leading provider of software and technology led products and services for the transportation industry is pleased to announce its audited final results for the year ended 31 July 2013.

Financial Highlights:

  • Revenues increased 25% to £10.8m (2012: £8.7m)
  • Adjusted EBITDA* increased 3% to £3.4m (2012: £3.3m)
  • Following acquisition of Sky High cash balance remains high at £6.6m (2012: £7.6m)
  • Final dividend proposed of 0.4p per share. Interim dividend of 0.3p per share paid during the year, hence full year dividend of 0.7p
  • Earnings before finance income, tax, depreciation, amortisation, exceptional items and share-based payment charges

Operational Highlights:

  • Acquisition of Sky High Plc completed
  • New software products successfully launched and new contracts won
  • Good client retention with very high level of recurring software revenue
  • UK rail franchising process back on track with forward timetable issued by the DfT leading to increased visibility of consultancy opportunities
  • Geographic footprint increased with new sales being delivered in New Zealand and the Group's presence in Australia

Post Period Highlight:

-Selected to continue with a major framework agreement for five years for Tracsis remote condition monitoring technology

John McArthur, Chief Executive Officer, commented:

"This has been a further year of growth for the Group, which included the acquisition of Sky High. This significant milestone has increased the Group's scale and offering, and extended the Group's geographic footprint to Australia. We are also delighted, post year end, to have been selected to continue with the Framework Agreement for our condition monitoring technology.

"As an acquisitive business, we continue to evaluate opportunities that would fit the Group whilst also driving organic growth. The potential for Tracsis overseas is significant, and we will continue to build on the presence we have in place.

"We look forward to the year ahead with optimism, and are confident it holds an abundance of opportunity for the Group. Our progress this year, plus the return to stability within the rail industry and associated franchise renewal process, provides the Group with a firm foundation for further growth and return for shareholders."

Enquiries:

John McArthur/Max Cawthra, Tracsis plc
Tel: 0845 125 9162

Katy Mitchell, WH Ireland Limited
Tel: 0161 832 2174

Rebecca Sanders Hewett/Jenny Bahr, Redleaf Polhill
Tel: 0207 382 4730
Tracsis@redleafpr.com