Tracsis PLC Trading Update (4377S)
09 Luglio 2020 - 8:00AM
UK Regulatory
TIDMTRCS
RNS Number : 4377S
Tracsis PLC
09 July 2020
9 July 2020
Tracsis plc
("Tracsis" or the "Group")
Trading update
Tracsis is a leading provider of software, hardware and services
for the rail, traffic data and wider transport industries, and is
pleased to provide an update on current trading, and the impact of
Covid-19 on the Group.
Overall trading since the commencement of the Covid-19 crisis
has been better than originally expected but naturally has had an
adverse impact on the business. The Group estimates that the impact
on current year revenue will be in the region of GBP10m, with our
Traffic Data and Events business units most affected by project
cancellations and postponements. The Group therefore expects to
report full year revenues of circa GBP46m.
Despite the Covid-19 challenges, the Traffic & Data Services
division has continued to secure new work and the impact of the
reduced revenue on profitability has been mitigated to an extent by
a range of actions taken to reduce the cost base across the
business.
As noted previously, our Rail Technology & Services
businesses have continued to trade very well as the performance of
these segments is underpinned by high levels of recurring Software
revenue. We continue to deliver a number of large multi-year
projects whilst winning new work and have a good pipeline of future
opportunities.
Current cash balances remain strong at circa GBP16m, after
making all tax and acquisition related payments due.
A further, more detailed update will be provided in August 2020,
once the July year end draft management accounts have been
completed.
Enquiries:
Tracsis plc Tel: 0845 125 9162
Chris Barnes, CEO
Max Cawthra, CFO
finnCap Ltd Tel: 020 7220 0500
Christopher Raggett/Charlie Beeson, Corporate Finance
Andrew Burdis, Corporate Broking
Notes to editors:
-- Tracsis plc is a technology company and a leading provider of
software and hardware products, data capture and data analytic
services for the rail, traffic data and wider transport
industries.
-- Tracsis' products and services are widely used to increase
efficiency, reduce cost and risk and improve operational and asset
performance, safety management and decision making capabilities for
clients and customers.
-- The Group is split into two principle operating areas built
around detailed industry knowledge and expertise:
- Rail Technology & Services: Software and technology led
business supported by consultancy. Develops remote condition
monitoring hardware and safety, productivity improvement, risk
management and data acquisition software for rail infrastructure
providers and software that solves complex resource, asset
optimisation and control problems for Train Operators.
- Traffic & Data Services : A largely services led business
that focuses on data capture, data analytics, data insights and
event traffic management within transport and pedestrian rich
environments. The business provides technology and data that
underpins large scale intelligent transport system and smart city
planning and decision making.
-- Tracsis has a blue-chip client base which includes all major
UK transport owning Groups. The business also works extensively
with Network Rail, the Department of Transport, TfL, multiple local
authorities, major outdoor music and sporting event organisers, and
a wide variety of large engineering and infrastructure
companies.
-- The business drives growth both organically and through
acquisition and has made fourteen acquisitions since 2008.
-- For more information on Tracsis please visit http://www.tracsis.com
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END
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