Trading Update & Notice of Results
Tracsis plc, a leading provider of software and technology led products and services for the transportation industry, is pleased to provide the following trading update for the six months ended 31 January 2015.
Group trading in the first six months of the financial year is ahead of the previous year and in line with the Board's expectations, with all parts of the Group performing either in line with or ahead of expectation.
Revenues for the six month period are expected to be in excess of £11m (H1 2014: £9.8m) and adjusted EBITDA and statutory PBT ahead of the same period last year (H1 2014: £2.8m and £2.3m respectively). Cash balances at the end of January 2015 were c. £10m (July 2014: £8.9m, Jan 2014: £7.6m) and the business remains debt free.
The Group's activities in North America are progressing to plan. Notably, we continue to work with our first US Class 1 railway for adoption of our remote condition monitoring technology along with pursuing a number of other opportunities.
Datasys, which was acquired in May 2014, has made a strong contribution to the Group in the period supported by high levels of recurring software revenue. In addition, the Group continues to appraise a number of acquisition opportunities against its strict investment criteria and has a strong pipeline of qualified opportunities.
The Board is confident that the Group is on track to deliver full year results in line with market expectations. The Group's Interim results will be released to the market on or around Wednesday 15th April.
For more information please contact:
John McArthur/Max Cawthra, Tracsis plc Tel: 0845 125 9162
Dominic Emery/Matt Lewis, Investec Bank plc Tel: 020 7597 4000
Rebecca Sanders-Hewett/Jenny Bahr, Redleaf PR Tel: 0207 382 4730
Notes to editors:
- The Group specialises in solving a variety of data capture, reporting and resource optimisation problems along with the provision of a range of associated professional services.
- Tracsis' products and services are used to increase efficiency, reduce cost and improve the operational performance and decision making capabilities for clients and customers.
- The Company offers the following services:
- Software and technology led consulting: Industry strength resource optimisation and rail management software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon.
- Remote Condition Monitoring: Technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.
- Data Capture: Collation and analytical services within traffic and pedestrian rich environments.
- Tracsis has a blue chip client base which includes the majority of UK transport operators such as Arriva, First, Stagecoach, Go-Ahead, National Express and Virgin. The business also works extensively with Network Rail, the Department of Transport, multiple local authorities, and a variety of large engineering/infrastructure companies.
- Tracsis has offices in the UK and Australia which service projects in Europe and Australasia.
- The business drives growth both organically and through acquisition and has made six acquisitions since 2008.
- Tracsis listed on AIM in 2007 under ticker TRCS.
- For more information visit http://www.tracsis.com