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Regulatory news

Trading Update and Notice of Results

Tracsis plc

("Tracsis" or the "Group")

Trading Update and Notice of Results

Tracsis plc, a leading provider of software and technology led products and services for the traffic data and transportation industry, is pleased to provide the following trading update for the six months ended 31 January 2016.

The Group had a busy first half on numerous fronts, with positive trading across all parts of the Group, and also completed the acquisitions of Ontrac Limited ('Ontrac'), SEP Limited ('SEP'), and made a strategic investment into Citi Logic Limited ('Citi Logic'). During the period the Group also disposed of Tracsis Traffic Data Pty Limited, a non-core data capture operation in Australia.

Revenues for the six month period were over £14m (H1 2015: £12.0m) with the increase due to a combination of organic growth and the contribution made by SEP and Ontrac.

Adjusted EBITDA from continuing operations is expected to be slightly ahead of the previous period (H1 2015: £3.3m). As anticipated, Statutory Profit before Tax will be lower than the previous year due to the exceptional costs incurred in relation to the acquisitions made, the disposal of the Australian operations, and the seasonality of the acquired businesses (which in the case of SEP is heavily weighted to the summer months). The seasonality bias only relates to the specific timing of the acquisitions made and will be reversed in the second half of the financial year where profit is expected to be significantly stronger than the first half.

At 31 January 2016, Group cash balances were c. £8.0m (July 2015: £13.3m, Jan 2015: £10.0m), which reflects the cash utilised on acquisitions and investments during the period. The business remains debt free and highly cash generative.

Given a good start to the financial year, the Board is confident the Group is well placed to deliver full year results in line with market expectations and remains vigilant to changing market conditions. The Group's Interim results will be released to the market on or around Wednesday 23rd March.

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 / Sarah Fabietti / Harriet Lynch Redleaf Communications
Tel: 0207 382 4730
Tracsis@redleafpr.com