Tracsis’ results to beat forecasts

The Leeds-based group said each of its three divisions is on or ahead of target. Its shares eventually closed up 12.4 per cent, or 8.5p, at 77p.

Chief executive John McArthur said: “Due to continued strong activity within our core markets the group continues to trade above expectations.

“UK rail refranchising activity has been brisk which has bolstered demand for both our consultancy and software offerings.

“Our condition monitoring business continues to be well received by an industry which has endorsed the move to intelligent infrastructure technology in order to remove cost and improve performance.

“Finally, our passenger analytics business is performing beyond expectations and this is primarily due to excellent client management and a sustained sales drive into new markets.

“The outlook for year ending July 2012 is robust and full year end results should be ahead of current expectations.”

Tracsis develops and licences software to help rail operators increase efficiency, such as better rostering of staff.

It also has remote trackside monitoring equipment which provides real-time information to operators and maintenance crews, alerting them to problems on the tracks.

Eric Burns, analyst at WH Ireland, said Tracsis is “going like a train”, and hiked its target price to 81p from 68p.