25th Aug 2021 13:42
Tracsis PLC - Leeds-based traffic data & transportation services firm - Expects revenue for the financial year that ended on July 31 to be close to GBP50 million, up marginally from GBP48.0 million in financial 2020. The improved result reflects a strong end-of-year recovery in activity levels across Traffic Data and Events business units, and organic growth in the Rail Technology & Services division and in Data Analytics, Tracsis says. The group expects to report an adjusted earnings before interest, tax, depreciation and amortisation margin in excess of 25%, up from 22% the year before.
Tracsis notes cash at the end of July was around GBP25.4 million, up from GBP17.9 million a year earlier. The cash position provides a "strong platform" for continued investment in future acquisitive growth opportunities.
A further recovery in activity levels is anticipated through the first quarter of financial year 2022, supported by the recently announced UK government-backed insurance scheme for the live events sector.
Full results for financial 2021 will be announced in November.
Current stock price: 1,015.00 pence, down 1.0% on Wednesday
Year-to-date change: up 59%
By Will Paige; [email protected]
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