Tracsis extends monitoring system into Scandinavian market

The Leeds University spin-out, whose software can prevent train derailments and delays, said the technology, which is already used in the UK, provides real time monitoring of the status of railway infrastructure, such as track circuits, level crossings and overhead cables. The data that comes back can be modelled to predict failure.

The same or similar technology is being used on rolling stock such as train engines and carriages, explained John McArthur, chief executive.

“This is not about monitoring infrastructure. It’s about monitoring a completely different asset class”, he said. The system is based on data logging technology, which is produced by the Tracsis subsidiary MPEC Technology.

Mr McArthur said MPEC Technology, which Tracsis acquired last year, has had “an absolutely amazing year in terms of their trading performance”. He said in a statement to shareholders yesterday: “I am delighted to see our proven technology making headway into new territories – both geographically and industry wise. We believe that there is a significant opportunity for us to replicate the success we have had in the UK elsewhere and look forward to developing new markets going forward.”

The trial marks the possibility of Tracsis “entering a new market within the broader transport technology space”. Mr McArthur added: “Scandinavia hasn’t been as badly hit by recessionary pressures as elsewhere in Europe and they are also pretty forward-thinking when it comes to transport technology. We are chasing opportunities throughout Europe but this is one of the ones that has come good in recent times.”

Tracsis, which employs 47 full-time staff and around 200 part-time staff, last month announced its third profit upgrade this year. Tracsis said it expects to announce annual revenues of over £8.5m, up from expectations of £6.8m, and underlying earnings of more than £3m against expectations of £1.9m.