LONDON (ShareCast) - (Sharecast News) - Software firm Tracsis said on Wednesday that full-year earnings were on track to come in lower in 2020 as a result of the impact of the Covid-19 pandemic on the transport industry.
Tracsis expects adjusted underlying earnings for the year ended 31 July will be down from last year's £10.5m, while the company's EBITDA margin was pegged to be roughly 20% - a slight contraction versus the 21% recorded a year prior.

Revenues looked set to come in around £48.0m, a slight dip on the £49.2m brought in a year earlier, as Covid-19 impacted revenues in its traffic and data services division, albeit "much less" than originally feared.

Tracsis highlighted that it had continued to secure new work during the pandemic, somewhat mitigating the impact of reduced revenues on profitability.

"The group aims to be in a position to provide further guidance on the outlook for 2021 and beyond at this point in time, though is mindful that there continues to be uncertainty across the transport sector," said Tracsis.

"The board remains confident that the group is well-positioned to navigate through this period of uncertainty whilst continuing to pursue and invest in future growth opportunities."

As of 1045 BST, Tracsis shares had shot up 11.30% to 640.0p.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE