Transport software specialist Tracsis PLC (LON:TRCS) said trading in the year just ended was in line with expectations, with a strong second half.
Revenues for the year to the end of July exceeded £34mln, versus revenues for the year before of £32.6mln. The house broker had forecast revenues of £33.9mln.
Tracsis said good trading was experienced throughout all parts of the business.
Underlying earnings, or EBITDA, and adjusted profit are expected to be in line with market expectations and also ahead of the previous year, when EBITDA was £7.6mln and adjusted profit was £6.9mln.
READ: Tracsis shares fall as it warns of price competition
The company had indicated at the time of its half-year results in February that the second half of the financial year was likely to be stronger than the first half and this proved to be the case.
Revenues in the second half were around £19mln, versus first half revenues of £15.6mln, while profitability was also stronger than the first half when EBITDA clocked in at £3.5mln and adjusted profit at £3.1mln.
The group’s cash balance at the end of July stood at around £15mln, up from £12.7mln at the end of January.
At the time of its interims, the group had warned of price competition in its traffic and data services division, prompting it to initiate a series of structural changes to the division that have now been completed and which should lead to improved margins in the future.
Shares in Tracsis edged 5p lower to 435p on the results.