Tracsis shares grow as results beat forecasts

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Tracsis shares grow as results beat forecasts
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Transport software and services outfit Tracsis (LON:TRCS) saw its shares rise by 9.16% to 691p (as of 13:50 BST) as the company beat market expectations to earn revenues of c. £40 million for the year ended 31st July. EBITDA and adjusted profits were also ahead of both expectations and the prior year.

Cash balances at the end of the year were £22.4 million, more than £7 million higher than at the beginning of the period, and there are no outstanding debts.

Management said that the group remains well positioned for further growth as it enters the new financial year, with a good pipeline of organic sales opportunities, M&A prospects and positive industry growth drivers.

Full results will be released in November.

 

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