4th Feb 2014 12:02
LONDON (Alliance News) - Software and technology products provider Tracsis PLC Tuesday said trading in the first-half of the financial year was strong, with both revenue and profits in line with expectations.
In a trading update before the releases of its interim results for the six months to the end of January, Tracsis said it expects first-half revenues in the excess of GBP9 million, up from GBP4.7 million a year earlier.
It said its latest acquisition, Sky High, a Yorkshire-based provider of services to the transport industry, which it acquired last year, has made a significant contribution to the group's overall trading performance, and the integration of this business is progressing well, and expected to be completed by the end of the financial year.
Tracsis said its Software and Consultancy business has been working extensively on rail re-franchising bid work, following the revised timetable issued by the Department for Transport, and there is good visibility on workload over the coming months.
The group said its balance sheet remains strong with cash balances in excess of GBP7 million, and said it remains debt free.
Tracsis said its intends to recommend an interim dividend in due course as part of its progressive policy.
Shares in the company were up 0.7% before midday Tuesday, at 214.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Tracsis