Leeds-based Tracsis returns to growth in revenue and increased profit despite continued Covid-19 challenges

Leeds-based Tracsis today said it had recorded a strong financial performance with a return to growth in revenue and increased profit despite continued Covid-19 challenges.

Tracsis, which is a provider of software, hardware, and services for the rail, traffic data and transport industries, has announced its audited final results for the year ended 31 July 2021.

Revenue increased to £50.2m, from £48.0m the previous year and profit before tax increased to £4.6m from £4.1m. Tracsis said it was well positioned to benefit from the strategic direction outlined for the UK rail industry in the Williams-Shapps plan for rail.

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Chris Barnes, Chief Executive Officer, commented: "I am pleased with our strong performance this year in the face of continued Covid-19 challenges.

Tracsis, which is a  provider of software, hardware, and services for the rail, traffic data and transport industries, has announced its audited final results for the year ended 31 July 2021.Tracsis, which is a  provider of software, hardware, and services for the rail, traffic data and transport industries, has announced its audited final results for the year ended 31 July 2021.
Tracsis, which is a provider of software, hardware, and services for the rail, traffic data and transport industries, has announced its audited final results for the year ended 31 July 2021.

"This reflects the great job our teams have done in steering the business through the pandemic. My highest priorities were to look after the wellbeing of all our employees and to protect as many jobs as possible, and I am really pleased that all parts of the group are now busy as the Covid restrictions on our end markets have been lifted.

"We have a record pipeline of large multi-year opportunities across all business units, and we are continuing to implement a number of large contracts won in previous years. We completed delivery of a large RailHub enterprise software contract at the end of the year, which is a significant achievement for our safety and risk management software business and creates a strong foundation for future growth.

"The publication of the Williams-Shapps plan for rail has established the strategic direction of the UK Rail Industry, and Tracsis is well positioned to help deliver this vision. We have a number of TRACS Enterprise contracts which will go-live in early 2022.

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He added: "In the Data, Analytics, Consultancy and Events Division we continue to see high activity levels in the Data Analytics/GIS market. The recent acquisition of Icon Group further expands our capabilities and offering in this growing market. Our consultancy business has been strengthened following the acquisition of Flash Forward Consulting in February 2021.

"This has now been fully integrated and we are seeing a growing pipeline of opportunities as a result. Activity levels in the Events and Traffic Data business that were hardest hit by the pandemic have started to rebound strongly. Provided that we do not return to lockdown restrictions, we expect both markets to recover to full activity levels through the course of the coming year.

"We are confident that there are strong growth prospects for all parts of the group and therefore remain committed to implementing our overall strategic growth and investment plans. We will continue to pursue organic and acquisitive growth supported by a strong balance sheet"

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