Tracsis plc - Interim results for the six months ended 31 January 2015

15 Apr 2015

Tracsis plc (AIM: TRCS), is pleased to announce its interim results for the six months ended 31 January 2015.

Financial Highlights:

·      Revenue increased 22% to £12.0m (2014: £9.8m)
·      Adjusted Pre-tax Profit1 increased 24% to £3.2m (2014: £2.6m)
·      Statutory Profit Before Tax increased 13% to £2.5m (2014: £2.3m)
·      Basic Earnings per share increased 19% to 8.00p (2014: 6.72p)
·      Cash balances at 31 January increased to £10.0m (31 July 2014: £8.9m, 31 January 2014 £7.6m)
·      Interim dividend of 0.4p per share proposed - an increase of 14% on last year
·      On track to deliver full year earnings in line with expectations

1Profit before tax, plus amortisation, share based payments and exceptional items

Operational Highlights:

·      All parts of the Group performed well in the period trading at or ahead of plan
·      Strong contribution from the Group's Data Capture & Analytics offering
·      Good maiden performance from Datasys (acquired May 2014) which is trading above expectation underpinned by high levels of recurring software revenue
·      Remote Condition Monitoring activities in North America continue to plan with good progress being made:
       - Two year contract signed with US distributor on exclusive basis 
       -
Two additional technology pilots established with Class 1 rail operators
·      Rail & Bus Operations division trading well given UK rail franchising activity

John McArthur, Chief Executive Officer, commented: "We are pleased to report a further period of growth with all of our key performance indicators ahead of the same period last year.  Following a period of record growth in 2014, Tracsis has built upon this position with notable wins in overseas markets whilst achieving further growth in our domestic market. 

"We remain focused on driving organic growth and continue to appraise acquisition opportunities from a strong pipeline of qualified targets. The Board expects full year trading to be in line with expectations and remains confident about our forward growth prospects."

Enquiries:

John McArthur/Max Cawthra, Tracsis plc 
Tel: 0845 125 9162

Dominic Emery/Matt Lewis, Investec Bank plc 
Tel: 020 7597 4000

Rebecca Sanders Hewett/Jenny Bahr, Redleaf PR 
Tel: 020 7382 4730
Tracsis@redleafpr.com

For the full announcement, please click here