Organic growth and acquisitions drive profits at Tracsis

Tracsis, the software company that works to ensure trains run on time, announced a big jump in annual revenue and said it has seen good organic growth and growth from its latest acquisitions.

Tracsis software helps trains to run on time
Tracsis software helps trains to run on time

The Leeds-based firm said revenue rose 24 per cent to £49m in the year to July 31 and earnings were up 12 per cent to £10.5m. The firm has increased its final dividend by 13 per cent to 1.8p a share.

The group completed three acquisitions during the year, all of which have contributed to the group since they were bought. They include Compass Informatics, Cash & Traffic Management and Bellvedi.

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During the year, Tracsis signed a five-year Framework Agreement with a major train owning group for its TRACS Enterprise product, which was Tracsis' largest software contract to date.

The group reported strong trading in its rail infrastructure businesses.

New chief executive Chris Barnes said: "In my first report as the new CEO, I am delighted to present these results which show good growth for the Tracsis Group compared to the previous year.

"The results reflect the impact of the acquisitions that we have completed in the period along with strong organic growth, something which is a key focus as we look to increase collaboration and expand our product offerings across the group."

He said the three acquisitions will have a full impact in the next year and combined with the strong pipeline of organic sales opportunities, theyprovide a good platform for future growth of the business in the years to come.

"I have inherited a great business, with a wide range of compelling product and service offerings, a great team of colleagues, an excellent blue-chip client base, and I am excited about the prospects for the group," he added.