Leeds-based Tracsis continues to pursue acquisition opportunities

Leeds-based Tracsis today said it continues to invest in technology and pursue acquisition opportunities as it updated the City on its trading performance.
Tracsis provides software, hardware, data analytics and other services for the rail industry.Tracsis provides software, hardware, data analytics and other services for the rail industry.
Tracsis provides software, hardware, data analytics and other services for the rail industry.

Tracsis, which provides software, hardware, data analytics and services for the rail, traffic data and transport industries, has provided a trading update for the six months ended 31 January 2021.

The statement said: "Trading for the first half of the year has been in line with the board's expectations with high activity levels across large parts of the group.

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"Group revenue is expected to be c.£22m (H1 2020: £26.4m), with underlying growth in the rail technology and services division and lower sales in the events and traffic data business units as expected due to ongoing Covid-19 related restrictions on their end markets.

"The overall impact of Covid-19 on H1 revenue is expected to be c.£6.0m. We continue to expect activity levels in the events and traffic data business units to progressively return to normal as lockdown restrictions are lifted.

"While the group's revenue is below that of the corresponding period, EBITDA is expected to be only slightly lower than H1 last year (H1 2020: £5.6m) due to a larger proportion of revenue in H1 2021 coming from the higher margin rail technology and services division, and the positive impact of cost reduction actions taken in response to the pandemic."

"Our rail technology and services division traded well with several new business wins and continued to benefit from high levels of recurring software revenue and revenue from multi-year contract wins in previous years."

The board's expectations for the year ending 31 July 2021 remain unchanged, the statement said.

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