Tracsis (TRCS), the software and service provider to the transport industry, has enjoyed comfortable growth over the past few years as operators have used its services to reduce costs and improve safety. Any disappointment was bound to send investors into a panic.
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That is just what has happened this week following an update for the six months to 31 January. Although revenues and cash profits are expected to be ahead, some sales from the software business are now not expected to be recognised until the second half of the year due to longer sales cycles and changes in the Department for Transport's franchise bid timetable. Full-year revenue will be dependent "on the timely conversion of new sales".
