Tracsis, a transport technology provider, anticipates revenues of approximately £36.3 million for the first half of the 2025 fiscal year (H1 FY25). This marks modest growth compared to the like-for-like figure of £35.5 million for H1 FY24, excluding around £1.1 million in discontinued revenue from that period. The company, based in Leeds, announced this financial outlook in a recent trading update covering the six months that ended on January 31, 2025.
The update highlighted substantial contract wins and positive operational advancements. Tracsis also anticipates that its financial performance in the second half of FY25, specifically revenue and EBITDA margin, will improve. This forecast is supported by the company’s order book, which now incorporates recent contract acquisitions.
Chris Barnes, Tracsis’s CEO, commented on the company’s position, stating, “While external factors have slowed activity in certain segments of the UK rail market, the industry’s fundamental shift towards modernization and digital adoption persists. Tracsis is well-equipped to lead this transition, addressing the growing demand for data-driven, customer-focused, and safety-critical solutions.”
Barnes further noted the effectiveness of their diversification strategy. “Our diversification strategy is steadily building momentum, granting us access to larger strategic opportunities. Our ability to win and deliver these complex, multi-year contracts has been enhanced by the investment we have made in technology and delivery capabilities.”
Tracsis also emphasized its strong financial standing. The company’s robust cash balance and solid cash generation allow it to continue investing in its technology infrastructure to foster organic growth. In addition, Tracsis will be looking to explore targeted acquisition opportunities.
The company also noted its services and products align with government plans for the future direction of UK Rail. However, a current consultation could cause procurement delays for future contract awards, especially in Operations & Planning. Importantly, Tracsis maintains a substantial installed base of critical solutions among UK train operating companies, which creates considerable recurring software revenue. Proposed government changes to the railways are not expected to negatively impact this.
