Regulatory news

Regulatory news

Interim Results

Attachment

Tracsis plc

('Tracsis', 'the Company' or 'the Group')

Interim results for the six months ended 31 January 2016

Tracsis plc (AIM: TRCS), a leading provider of software and technology led products and services for the traffic data and transportation industry, is pleased to announce its interim results for the six months ended 31 January 2016.

Financial Highlights:

  • Revenue increased 19% to £14.3m (2015: £12.0m)
  • Adjusted EBITDA from continuing operations increased 4% to £3.5m (2015: £3.3m)
  • Adjusted Pre-tax Profit1 from continuing operations of £3.2m (2015: £3.2m)
  • Cash balances at 31 January of £8.0m (31 July 2015: £13.3m, 31 January 2015 £10.0m) following acquisitions and strategic investment
  • Interim dividend of 0.5p per share proposed - an increase of 25% on last year
  • On track to deliver full year earnings in line with expectations Operational Highlights:
  • A further period of good trading across the Group
  • Strategic investment into mobile analytics firm Citi Logik Limited ('Citi Logik') made September 2015
  • Acquisition of event traffic management specialists SEP Limited ('SEP') completed September 2015
  • Acquisition of software development and hosting business Ontrac Limited ('Ontrac') completed December 2015
  • Disposal of non-core Australian subsidiary completed December 2015
  • Investment in new software products TRACS Enterprise and Bugle Day One, developed in conjunction with the UK rail industry has led to new sales being achieved
  • Successful investment into new product initiatives and bolt-on acquisitions creates a substantially enlarged Group going forwards John McArthur, Chief Executive Officer, commented:

"We have delivered another positive trading period for Tracsis which included our most active transactional period to date with the acquisitions of SEP and Ontrac and our strategic investment in Citi Logik. Following new product initiatives coupled with the acquisitions made, our technology and service offerings have been significantly broadened and we look forward to seeing the benefit of this in the second half of the financial year and beyond. Given the continued strength of our balance sheet and operating in core markets that continue to grow, we remain well positioned to deliver full year results in line with market expectations."

1Profit before tax, plus amortisation, share based payments and exceptional items

Enquiries:

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 PR
Tel: 020 7382 4730
Tracsis@redleafpr.com