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Software, hardware, and data analytics firm Tracsis has published interim results for the six months ended 31 January 2021.
Revenue at the transport industry-serving firm decreased to £22.2m, down £4.2m for the year prior. Growth in the Rail Technology & Services Division was offset by lower sales in the Events and Traffic Data businesses as expected due to ongoing Covid-19 restrictions on their end markets
The firm also reported an adjusted EBITDA of £5.4m only slightly lower than the same period last year (£5.6m), including the positive impact of cost reduction actions taken in response to the pandemic
No interim dividend has been declared, however, the board confirmed that they will review the situation and are committed to restoring the dividend policy at the earliest appropriate date.
Chris Barnes, chief executive officer, commented: We have a significant pipeline of large multi-year opportunities across our Rail Technology and Services Division in both UK and international markets, and in our Data Analytics/GIS business unit.
In addition, we are now starting to see an increase in new business enquiries across those businesses that have been hardest hit by the Covid pandemic and this is driving increased confidence around future growth prospects.
We continue to focus on integration and consolidation activities which alongside the launch of a new Group-wide Tracsis brand will increase the opportunities for R&D collaboration and cross selling. We remain committed to pursuing organic and acquisitive growth supported by a strong balance sheet.
At 8:37am: (LON:TRCS) Tracsis PLC share price was 0p at 530p