Shares in Tracsis (TRCS) soared 8 per cent on the news that revenues for the year to July will beat market expectations at around £40m – up 15.9 per cent. Moreover, cash profits and adjusted profit are also expected to beat expectations, while tracking ahead year on year. Last financial year, cash profits and adjusted profit reached £8.5m and £7.7m, respectively.
Within its 12-month trading update, Tracsis – which provides software and services to the traffic data and transportation industry – cited highlights such as the acquisition of Travel Compensation Services Limited within its rail technology business, and a major software implementation at a UK train operating company.
The group remained debt-free, with cash balances of around £22m – up from £15.4m. Broker FinnCap notes that this stems partly from a postponed contingent consideration payment, along with strong working capital movement.
