Tracsis PLC Trading Update (8493N)
August 14 2017 - 2:00AM
UK Regulatory
TIDMTRCS
RNS Number : 8493N
Tracsis PLC
14 August 2017
14 August 2017
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 year ended 31 July 2017.
Group trading for the year has been in line with market
expectations. Revenues for the year were in excess of GBP34m (2016:
GBP32.6m) with good trading experienced throughout all parts of the
business. EBITDA and Adjusted Profit are expected to be in line
with market expectations and also ahead of the previous year (2016:
EBITDA GBP7.6m, Adjusted Profit GBP6.9m).
As anticipated and communicated at the interim results, the
second half of the financial year was considerably stronger than
the first half. H2 revenues were c. GBP19m (H1 2017: GBP15.6m), and
profitability was also stronger in the second half (H1 2017: EBITDA
GBP3.5m, Adjusted Profit GBP3.1m).
At 31 July 2017, Group cash balances remained strong at c.
GBP15m (2016: GBP11.4m), which reflects excellent cash generation
in the year and after paying contingent consideration of GBP1.1m in
respect of acquisitions made in 2015 (SEP and On-Trac). The Group
continues to be debt free and highly cash generative.
The Board is pleased with the momentum experienced during the
year, with highlights including a significant multi-million pound
contract win for our TRACS Enterprise Software, successful delivery
of a North American contract for our RCM technology, and strong
trading for our recently-acquired business On-Trac and SEP.
Furthermore, the Group has now completed a series of structural
changes (people, systems and processes) to our Traffic & Data
Services Division which should lead to improved margins in this
division going forward. Aligned with this aim, the Group was
pleased to make a strategic investment in Vivacity Labs Limited, a
machine learning software business that should bring significant
operational benefits to Tracsis and enhance our analytics
capabilities.
The combination of these initiatives, our continued
diversification, a good pipeline of M&A prospects, and
anticipated industry momentum leaves the Group well positioned as
we enter the new financial year.
Full Year results will be announced to the market in November
2017.
For more information please contact:
John McArthur/Max Cawthra, Tel: 0845 125
Tracsis plc 9162
Andrew Pinder/Matt Lewis/Sebastian Tel: 020 7597
Lawrence, Investec Bank plc 4000
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.
-- Tracsis has a blue chip client base which includes the
majority of UK transport operators. The business also works
extensively with Network Rail, the Department of Transport,
multiple local authorities, Silverstone, Goodwood, and a variety of
large engineering/infrastructure companies.
-- The business drives growth both organically and through
acquisition and has made eight acquisitions since 2008.
-- Tracsis listed on AIM in 2007 under ticker TRCS.
-- For more information 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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