Tracsis

Interim results – Strong progress across all segments

Tracsis plc (AIM: TRCS), is pleased to announce its interim results for the six months ended 31 January 2013.

Financial Highlights:

·      Revenues increased 29% to £4.7m (H1 2012: £3.7m)

·      Adjusted EBITDA increased 49% to £1.9m (H1 2012: £1.3m)

·      Profit before tax increased 50% to £1.7m (H1 2012: £1.1m)

·      Cash balances up by £0.9m to £8.5m (H1 2012: £6.0m, FY 2012 £7.6m)

·      Interim dividend proposed of 0.3p per share (H1 2012: 0.2p per share)

Operational Highlights:

·      Further sales of TRACS optimisation software achieved

·      Completion,  successful launch and first contract with a major UK operator for new rail freight product – FreightTRACS

·      Further international progress with sale of COMPASS reporting software in New Zealand market

·      Extensive franchise bid support work for multiple transport owning Groups

·      Strong demand for passenger counting & analytics services

·      Continued demand for the MPEC condition monitoring technology

·      Excellent client retention and account management across the Group

John McArthur, Chief Executive Officer, commented: 

“I am pleased to report further substantial growth in the period with all areas of the Group performing ahead of the same time last year. In addition to winning several new contracts both in the UK and abroad, we have developed and launched a new software offering for the rail freight sector which has been sold to our first customer marking our entry into a new market.

“The Group remains well positioned for further growth and continues to benefit from an excellent financial position, a diverse product offering to blue chip clients, and a healthy pipeline of acquisition prospects.”