Tracsis shares still on track despite fall in profits

The price of shares in AIM-listed transport software developer Tracsis (LON:TRCS) dropped by 2.41% to 607.50p (as of 13:55 BST) as profits before tax for the half-year to 31st January dropped. Revenues climbed by 5.5% over the period and the company also completed 2 acquisitions whose impact will be felt from the second half onwards.

Chief executive John McArthur commented: “This was another busy period for the Group and we have made good progress in delivering to our strategy of organic and acquisitive growth. We were pleased to have completed two acquisitions in the period which will benefit the second half of the financial year, and also secured a significant software contract which is strategically important for Tracsis and the wider rail industry. The Directors are pleased with the results for the period and the business is well placed to deliver full year results in line with market expectations, with the second half of the year expected to be stronger given the seasonality in the business and the contribution from the newly acquired businesses“.