StockMarketWire.com - Traffic data and software provider Tracsis said it expected to report a lower annual pre-tax profit, though with a smaller-than-expected fall in revenue.

Revenue for the year through July was expected to be around £48m, down from £49.2m on-year, with the Covid-19 crisis taking out a £10m chunk that was nevertheless 'much less than originally feared'.

'Under the circumstances, the board is pleased with the overall revenue performance, which was assisted by a very strong performance from our rail technology and services division,' Tracsis said.

The company's operating margin was expected to be in the region of 20%, down slightly from 21% on-year.

Consequently, adjusted operating earnings and adjusted pre-tax profit were both expected to be lower than the previous year's £10.5m and £9.7m, respectively.

Tracsis said it aimed to be in a position to provide further guidance on the outlook for 2021 and beyond when it released its results in November, though it added that it was 'mindful that there continues to be uncertainty across the transport sector'.

'The board remains confident that the group is well positioned to navigate through this period of uncertainty whilst continuing to pursue and invest in future growth opportunities,' Tracsis said.




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