Tracsis PLC Trading Update (3257F)
February 20 2018 - 1:00AM
UK Regulatory
TIDMTRCS
RNS Number : 3257F
Tracsis PLC
20 February 2018
20th February 2018
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
2018.
Group trading for the first half of the year has been strong
across all parts of the business, and in line with management
expectations. All key financial metrics for the six months are
comfortably ahead of the previous year with Revenues in excess of
GBP18m (2017: GBP15.6m), and EBITDA of over GBP4.3m (2017:
GBP3.5m).
At 31 January 2018, Group cash balances remained strong at c.
GBP18.5m (31 July 2017: GBP15.4m, 31 January 2017: GBP12.7m), which
reflects continued excellent cash generation in the period. The
Group continues to be debt free and highly cash generative.
The first six months of the year has seen good progress made on
a number of strategic initiatives. The Group commenced work on the
delivery of a major contract for our TRACS Enterprise Software for
a major UK Train Operating Company, secured further work within the
US for our Remote Condition Monitoring technology, and On-Trac has
secured a number of bespoke software development projects within
the UK.
Furthermore, our Traffic & Data Services division has traded
well following the process and technology improvements that took
place last year. During H2 we will begin the adoption of our
Machine Learning 'Felicity' software to support our video analytics
work and in doing so further cement the relationship with our
investee company Vivacity Labs. We were also pleased to renew a
major multi-year contract with a global engineering company which
is expected to underpin a significant part of this division's
income in future periods.
On 1 February we were pleased to announce the acquisition of
Travel Compensation Services Limited and Delay Repay Sniper
Limited. The Directors believe these businesses are highly
complementary to Tracsis, and will offer significant cross sell and
growth opportunities in the foreseeable future. The integration of
both businesses is progressing to plan.
The Group's Interim results will be announced on or around 28
March 2018.
For more information please contact:
John McArthur/Max Cawthra, Tel: 0845 125
Tracsis plc 9162
Andrew Pinder/Seb Lawrence, Tel: 020 7597
Investec Bank plc 5970
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 21(st) 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 ten acquisitions since 2008.
--For more information on Tracsis please visit
http://www.tracsis.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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