Tracsis celebrates year of "excellent growth"
Derby-based software group Tracsis has hailed another year of "excellent growth" across all areas of the business as the transport markets continued to benefit from record levels of government spending.
Revenue at the company more than doubled in the year to 31 July 2014 sending profits rising by about 60 per cent.
Tracsis has significant operations in Derby with a base on Pride Park and another at Wyvern House. It provides software and technology-led products for the transportation industry.
Preliminary results posted this morning showed sales up from £10.8m in 2012/13 to £22.4m. Adjusted EBITDA increased by 61 per cent to £5.4m and pre-tax profits were up by 62 per cent to £4.2m.
Chief executive John McArthur said: "Tracsis has delivered another excellent year of growth across all areas of our business whilst at the same time expanding our geographic footprint to new overseas markets and completing our sixth acquisition since IPO.
"We continue to benefit from transport markets that are experiencing record levels of government spending, steadily rising passenger numbers and regulatory change. This environment provides for good growth opportunities as we look to help solve the transportation problems of tomorrow."
The group is planning to make further in-roads into overseas markets in the year ahead, most notably the US, McArthur added.
Tracsis will also continue to diversify the technology portfolio and UK offering through a combination of in-house development and more acquisitions.