Revenue expected to have increased to around £29m at Leeds transport software firm

Transport software provider Tracsis has announced that trading for the first half of the year has been in line with the board's expectations.

The Leeds-based firm, which provides software services for the rail, traffic data and wider transport industries, expects group revenue to have increased to around £29m, up from £22.2m in the first half of 2021, which includes a strong post-Covid lockdown recovery of activities in the Events and Traffic Data business units.

In the Rail Technology and Services Division, the firm has won several multi-year rail technology software contracts including its first multi-year contract in the rail freight sector for its TRACS Enterprise product suite.

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EBITDA is expected to have increased by around 10 per cent, in the first half of last year it stood at £5.4m. Tracsis said cash balances remain strong at around £25m, in the first half of 2021 they were £20.8m, enabling the group to continue to invest in its technology base and to pursue a growing pipeline of acquisition opportunities.

Tracsis is based in Leeds.Tracsis is based in Leeds.
Tracsis is based in Leeds.

The integration of Icon Group, a Dublin-based interdisciplinary geoscience company specialising in Earth Observation that was acquired in November 2021, is progressing well, the business added.

The board's expectations for the year ending July 31, 2022 remain unchanged.

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