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Tracsis - Rail nationalisation clouds the picture

December 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Tracsis didn’t hit the full year expectations set at the start of the year due to the election torpedoing contract awards in the last two months of the year. Sales were flat at £81m but pretax profit went from £13.7m to £10.5m for EPS down 35% to 25.1p. There was also £3m of exceptionals to streamline the legal entity structure. Net cash was £19.8m. Rail Technology & Services sales were flat at £37.6m and EBITDA down by £0.6m to £9.8m. However, repeat revenue increased by 10% to £25.5m, driven by strong growth in the UK (UK sales grew 10% to £31.9m) from the deployment of contracts won in previous years eg. two PAYG contracts with UK train operators and a multi-year delay repay contract. As CEO Chris Barnes explained to ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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