StockMarketWire.com - Tracsis has reported a strong first half of the year, with group revenues 'well ahead' of 2018 at more than £26 million.

According to the trading update for the six months ending January 31, 2020, group revenue grew more than £7 million when compared with the same period a year earlier.

Ebitda and adjusted profit at the group are also expected to be ahead of the previous year, while cash balances have remained strong at £26 million, up from £18.7 million in January 2019.

The group said its rail technology and services division benefited from high levels of recurring software revenue and also income from multi-year contract wins from previous years.

Bellvedi, which was acquired during 2019, has also performed well, the group said, and continues to form a key part of our industry leading TRACS Enterprise solution.

The group added that its traffic and data services division is 'highly second-half weighted', but added that it had performed 'very pleasingly and ahead of expectations', with a very strong contribution from the acquired businesses CTM and Compass Informatics, where integration is progressing well.

Interim results will be announced on April 2, 2020.


At 8:17am: [LON:TRCS] Tracsis PLC share price was +42.5p at 832.5p



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