Information  X 
Enter a valid email address

Tracsis PLC (TRCS)

  Print      Mail a friend       Annual reports

Monday 04 March, 2019

Tracsis PLC

Trading Update

RNS Number : 6455R
Tracsis PLC
04 March 2019
 

4th March 2019

Tracsis plc

("Tracsis" or the "Group")

Trading Update

Tracsis plc, a leading provider of software and services for the traffic data and transportation industry, is pleased to provide the following trading update for the six months ended 31 January 2019.

Group trading for the first half of the year has been in line with management expectations.  Group revenues are expected to be ahead of the previous year at c. £19m (2018: £18.1m).  EBITDA and Adjusted Profit are also expected to be ahead of the previous year (2018: EBITDA £4.3m, 2018: Adjusted Profit £3.9m).

The Group was pleased to have completed the acquisitions of both Compass Informatics Limited ('Compass') and Cash & Traffic Management Limited ('CTM') in January with the full six month impact coming in the second half of the financial year.  The Directors believe both acquisitions are highly complementary to the Group's Traffic & Data Services division with good potential for further growth in the coming years.

At 31 January 2019, Group cash balances remained strong at £18.7m (31 July 2018: £22.3m, 31 January 2018: £18.5m), which reflects continued excellent cash generation.  This is after the cash outflow in respect of acquisitions made and the final contingent consideration in respect of the Ontrac acquisition from 2016.

General trading across the Group remained busy throughout H1.  In January, the Group announced a significant five-year Framework Agreement with a major Train Owning Group for its TRACS Enterprise product.  This roll out is well underway and revenues from this contract are expected to be realised in the second half of the financial year and beyond.  The Group's RCM offering experienced positive trading conditions, Ontrac secured a multi-year software deal at Crossrail and TCS were awarded a new multi-year contract for our delay repay offering.  Our Traffic & Data Services division traded in line with expectations and will benefit significantly from the Compass and CTM acquisitions in H2 and beyond. 

In line with our product road map, the Group continues to invest in our technology stack and is making excellent progress developing the next generation of planning products for the transport industry. The Group's pipeline of acquisition opportunities remains strong.

As announced previously, Chris Barnes, CEO Designate, joined Tracsis on 4 February 2019 and the transitioning process from John McArthur is well underway and proceeding to plan.

The Group's interim results will be announced on 10 April 2019.

 

Enquiries:

Tracsis plc                                                                                                                                              Tel: 0845 125 9162

John McArthur, CEO

Chris Barnes, CEO-Designate

Max Cawthra, CFO

finnCap Ltd                                                                                                                                           Tel: 020 7220 0500

Christopher Raggett/Scott Mathieson, Corporate Finance

Andrew Burdis, Corporate Broking

The information communicated in this announcement is inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

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:

 Rail Technology & Services: Software and technology led consulting, and remote condition monitoring: Industry strength software that covers a variety of asset classes working alongside consulting and related professional services across the operational and strategic planning horizon, plus technology and reporting for critical infrastructure assets in real time, to identify problems and aid with preventative maintenance.

 Traffic & Data Services: Collation, analytical services, and event management within traffic and pedestrian rich environments.  The business provides technology and data that is instrumental in the development of 21st century intelligent transport systems and smart cities.

§ Tracsis has a blue chip client base which includes all major UK transport owning Groups.  The business also works extensively with Network Rail, the Department of Transport, TfL, multiple local authorities, major outdoor music and sporting events, and a wide variety of large engineering and infrastructure companies.

§ The business drives growth both organically and through acquisition and has made twelve acquisitions since 2008.

§ For more information on Tracsis please visit http://www.tracsis.com

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
END
 
 
TSTBSGDXRUGBGCB

a d v e r t i s e m e n t