Tracsis PLC Trading Update (6455R)
March 04 2019 - 2:00AM
UK Regulatory
TIDMTRCS
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. GBP19m (2018: GBP18.1m). EBITDA
and Adjusted Profit are also expected to be ahead of the previous
year (2018: EBITDA GBP4.3m, 2018: Adjusted Profit GBP3.9m).
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
GBP18.7m (31 July 2018: GBP22.3m, 31 January 2018: GBP18.5m), 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 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 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 rns@lseg.com or visit www.rns.com.
END
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