Regulatory news

Regulatory news

Audited results for the year ended 31 July 2017

Attachment

Tracsis plc

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

Audited results for the year ended 31 July 2017

Tracsis plc (AIM: TRCS), a leading provider of software and services for the traffic data and transportation industry, is pleased to announce its audited results for the year ended 31 July 2017.

Financial Highlights:

  • A further period of good trading across the Group
  • Revenue increased 6% to £34.5m (2016: £32.6m)
  • Adjusted EBITDA* increased 11% to £8.5m (2016: £7.6m)
  • Statutory Pre-tax Profit increased 14% to £4.6m (2016: £4.0m)
  • Fully diluted adjusted Earnings Per Share increased 4% to 23.29p (2016: 22.37p)
  • Cash balances at 31 July of £15.4m (2016: £11.4m)
  • Final dividend of 0.8p per share proposed (2016: 0.7p). Full year dividend increased 17% to 1.4p per share (2016: 1.2p)
  • Tracsis continues to trade well and remains highly cash generative with significant balance sheet strength. The Group remains debt free Strategic and Operational Highlights:
  • Significant multi-million pound contract win secured for TRACS Enterprise Software - largest software contract secured to date
  • Recently-acquired businesses On-Trac and SEP trading well and above expectation
  • Successful delivery of a North American contract for the Group's RCM technology
  • Structural changes completed within Traffic & Data Services Division, which should be beneficial to margins
  • Strategic investment in Vivacity Labs Limited, a machine learning software business operating in the field of transport and traffic analytics John McArthur, Chief Executive Officer, commented:

"This was a further year of progress, consolidation and continued growth for Tracsis following the acquisitions of SEP and Ontrac, which have substantially increased the Group's product depth, breadth and client base. The Group has adapted well to the needs of our customers and we have made significant progress in product innovation whilst also building our team.

Revenue and profit were both ahead of the previous year and the Group continues to benefit from a strong balance sheet as a result of excellent cash generation and sizeable reserves.

The Group continues to hold a great position within our respective markets. Our financial strength coupled with favourable market conditions and good customer momentum provides a good platform for growth in the year to come."

  • Calculation unchanged from previous years and in line with broker forecasts and research coverage on Tracsis. Full definition and reconciliation in Note 6.

Enquiries:

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

Investec Bank plc
Corporate Finance: Andrew Pinder / Sebastian Lawrence
Corporate Broking: Matt Lewis
Tel: 020 7597 5970