29th Aug 2024 19:18
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.
Chief Executive Chris Barnes says: "The business remains well placed, with all signs suggesting that the UK rail industry's transition to a data-driven, customer-focused, safety-critical future will continue under the new government. Alongside the positive momentum we have seen in our pipeline of software opportunities in both the UK and North American markets, this leaves us in a strong position to drive ongoing scalable growth in [fiscal year 2025] and beyond."
Current share price: 660.00 pence, closed down 0.8% in London on Thursday
12-month change: down 13%
By Aidan Lane, Alliance News reporter
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