Updates

Tracsis

November 2013

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Results were below what we expected. As recently as June, Tracsis had been saying that its condition monitoring business had performed â€œexceptionally well.â€ But the ending of the framework agreement with Network Rail resulted in a total drop off in those high margin sales (Â£2.6m sales in H1 versus Â£0.8m in H2). Consultancy also went into slumber mode after the franchise renewal process for West Coast went on hold last year. Not only did utilisation drop off on consultants but it also impacted on software sales. Tracsis partly filled the gap with the acquisition of SkyHigh in April.Overall, Tracsis reported sales up 25% to Â£10.8m and a pretax profit dipping from Â£3m to Â£2.6m. SkyHigh contributed a Â£0.22m profit on sales of ...

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Quindell Portfolio

Hargreaves Services

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