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Tracsis expects slight fall in first-half earnings
StockMarketWire.com
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Transport analytics group Tracsis said it expected to post slightly lower first-half earnings, owing to the pandemic hurting sales at its events and traffic data business.
Revenue for the six months through January was seen falling to around £22 million, down from £26.4 million year-on-year.
Tracsis said the blow had partly been buffered by a stronger performance at its rail technology and services division.
The overall impact of Covid-19 on first-half revenue was expected to be about £6.0 million.
'We continue to expect activity levels in the events and traffic data business units to progressively return to normal as lockdown restrictions are lifted,' Tracsis said.
Earnings before interest, tax, depreciation and amortisation would only be slightly lower than the £5.6 million posted for the first half of the 2020 financial year.
That was due to a larger proportion of revenue in the 2021 financial year coming from the higher margin rail technology and services, plus cost cutting.
Tracsis said its expectations for the year ending 31 July remained unchanged.
Story provided by StockMarketWire.com
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