Tracsis interim revenues 'well ahead' of prior year
Software services provide Tracsis traded in line with expectations in the first half of the year, with revenues coming in significantly higher than over the same period twelve months earlier.
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Tracsis said on Thursday that first-half group sales, as expected, were "well ahead" of the previous year at over £26m - a marked improvement on the £18.8m recorded at the midway point of 2019.
Underlying earnings and adjusted profits were also expected to be ahead of the previous year.
Tracsis said its rail technology and services division traded well, benefiting from high levels of recurring software revenue and income from multi-year contract wins from previous years.
The AIM-listed group's traffic and data services units performed "very pleasingly" and ahead of expectations leading up to its heavily-weighted second half, with a very strong contribution from recently acquired businesses.
"As highlighted previously, the group continues to invest heavily in our technology base, and continues to make good progress developing the next generation of products for the transport industry," said Tracsis.
As of 1035 GMT, Tracsis shares were up 3.42% at 817p.