News blog
Tracsis
- BY: Andrew Hore |
- POSTED: 06/07/2010 |
Tracsis has won another contract, this time worth £600,000 over seven years.
Tracsis provides operational planning systems to the rail sector. A contract worth £150,000 over three years was announced in June. Both contracts are with major UK train operators.
Tracsis has warned that there could be delays in revenues relating to re-tendering for the Essex Thameside and Greater Anglia franchises. The government has set up a consultation exercise on rail franchising policy.
This means that revenues that were expected to come in during June - August 2010 will probably not be generated until 2011. Zeus Capital had forecast a profit of £800,000 in the year to July 2010. Tracsis is still trading profitably.
Revenues grew from £945,000 to £1.01m in the six months to January 2010. That includes a small contribution from Safety Information Systems, which was acquired in December for an initial £465,000 in cash and shares. SIS provides COMPASS performance management reporting software. It also contributed to profit, which fell from £249,000 to £75,000 – due to a lower contribution from interest and higher overheads. There was £2.67m in the bank at the end of January 2010.
At 52p a share, Tracsis is valued at £10.1m.
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