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  • BY: Andrew Hore |
  • POSTED: 26/04/2012 |

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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