Member Article

Leeds’ Tracsis doubles revenue in 6 months and eyes US expansion

Leeds-based Tracsis plc, a data solutions provider for the transport industry, have announced that revenue has increased 109% to £9.8 million (2013: £4.7 million).

It’s adjusted EBITDA increased 49% to £2.8 million (2013: £1.9 million) for the six month interim period ended January 31 2014.

This is due to a 5 year extension of Framework Agreement for Remote Condition Monitoring (‘RCM’) technology, resulting in initial order of £2.2m and the acquisition of Sky High tehcnology which have increased the firms revenue stream.

This has led them to undertake a US pilot of their RCM technology.

They are a provider for the transport and infrastructure industry, with customers including Serco, Northern, and Virgin Trains, Network Rail, Metro and Arriva.

John McArthur, CEO, commented: “We are very pleased to be reporting another period of strong growth with both revenues and profit significantly ahead of the same period last year.

“Our technology and services remain as relevant as ever, with the past six months seeing a marked increase in demand across all areas of our business.

“Our sales pipeline remains strong with promising opportunities, including a North American pilot for our RCM technology and further UK and overseas opportunities.

“The enlarged Group now includes Sky High Technology, which was acquired in April 2013 and we have since realised key synergies and the business has performed well.

“The Group also remains committed to a strategy of careful acquisitive growth and has continued to evaluate a number of opportunities in the period.

“I am pleased to report that the Board is confident of exceeding current market expectations for the full year and looks forward to continuing to drive growth and value for shareholders.”

This was posted in Bdaily's Members' News section by Clare Burnett .