Profit before tax rose 50 per cent to 1.7m pounds in the six months ended January 31st at AIM-listed Tracsis, an interim management statement issued by the company has shown.

The company, which develops and supplies reporting technologies to the transport industry, reported that revenue had increased 29% to £4.7m and adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) increased 49% to £1.9m.

Cash balances rose by £0.9m to £8.5m and the group reported an interim dividend proposed of 0.3p per share.

Within the six month period, the company reported that it had completed and launched its first contract with a major UK operator for new rail freight product FreightTRACS and said it was having further international progress with the sale of COMPASS reporting software in the New Zealand market.

Operational highlights further reported extensive franchise bid support work for multiple transport owning groups.

John McArthur, Chief Executive Officer of Tracsis, commented: "I am pleased to report further substantial growth in the period with all areas of the group performing ahead of the same time last year.

"In addition to winning several new contracts both in the UK and abroad, we have developed and launched a new software offering for the rail freight sector which has been sold to our first customer marking our entry into a new market."

Tracsis' share price was up 9.26% to 177p at 12:54 on Monday.

MF

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