IN BRIEF: Tracsis says UK election to result in on-year revenue dip
Tracsis PLC - Leeds-based provider of software, hardware, data analytics and services for the rail, traffic data, and wider transport industries - Expects revenue for year-ended July 31 to be over GBP81 million, in line with GBP80.0 million to GBP82.0 million range it forecast in June, though down from GBP82 million a year ago. Analyst consensus had been GBP84.0 million to GBP85.9 million, though THIS could not be met due to "short term impact of the UK general Election". Says operations returning to "normal levels" post-election. Adds it is "well aligned" with new UK government rail initiatives including the creation of Great British Railways, the re-nationalisation of train operating companies and efficiency, reliability, safety, and customer experience improvements. Expects earnings before interest, taxes, depreciation, and amortization around GBP13.0 million, a would-be 19% decline from GBP16 million last year. Cash balance was GBP19.8 million at July 31, up 29% from GBP15.3 million last year. Full results are expected November 20. Read More