H1 revenues up 18%, EBITDA and adj PBT expected to be ahead of previous period
Companies: Tracsis plc
Transportation industry data specialist Tracsis Plc released a trading update for H1 on Wednesday, reporting Group revenues up 18% at £15.5m, and saying that EBITDA and adj pre-tax profit are expected to be ahead of the previous period.
Shares in Tracsis, which are quite illiquid, dropped 11% shortly after 8:30 on Wednesday.
In a positive note, the AIM-listed firm stressed that due to the timing of anticipated software sales and the seasonality in some divisions of the Group, H2 is expected to be "significantly stronger" than the first 6 months.
"The outcome for the full year remains subject to the timely conversion of new sales for our various software products and services, supported by the improvement in gross margin initiatives that commenced at the start of the financial year..."
The firm's cash balance is strong at roughly £12.5m, with no debt.
The update reiterated the Group's strategy of growing through acquisitions and organically, and struck a positive tone regarding the key market drivers within the traffic and transport markets.