Rail resource optimisation software provider Tracsis says that its profit for the year to July 2012 should be better than expected.
Revenues almost trebled to £3.66m in the six months to January 2012, while pre-tax profit jumped from £127,000 to £1.13m. WH Ireland forecast a profit of £1.41m for the full year but things have got even better.
UK rail refranchising has boosted demand for software and consultancy. Tracsis has announced a new two-year software contract with a UK rail operator. Passenger analytics has done better than expected.
Chief executive John McArthur acquired 3,778 shares at 79.4p each, taking his stake to 3.89%. IP Group has been reducing its stake in Tracsis but still owns 24.4%.
At 79p a share, Tracsis is valued at £19.4m. Last year, Tracsis raised £1.95m from a share placing at 45p a share. A maiden interim dividend of 0.2p a share was declared earlier this year.
Cash increased to £5.95m at the end of January 2012. There is likely to be a £1m payment before the end of the year to satisfy the deferred consideration for MPEC.
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