Tracsis Share Discussion Threads

[jamielein] 30/1/2013 09:08

Reluctantly sold today as I expected greater growth.

A PE of 16 (13 ex-cash) with around 10% growth isn't bad, but isn't too compelling either.

If I didn't hold I wouldn't be buying right now, so decided to sell.

I still really like TRCS but there's a danger in falling too much in love with a company, as I've held them for quite some time. I've had a very good run from mid-60s and mid-80s to now.

There does seem to be a lot of selling this morning. I'm hoping I have a chance to get back in again on any positive news sometime in the future.

Jamie

[cestnous] 30/1/2013 07:48

Statement was fine. Obviously the work will be piling up and it looks to me that they may have another acquisition lined up.

[jolomo] 30/1/2013 07:43

Have to say that I read the update more positively. Trading 'buoyant', cash pile growing & a commitment to a progressive dividend policy. All this despite rail franchising mess.

[tech] 30/1/2013 07:20

Bit of negativity with when statement rail franchising will return to normal. LPA suffering the same.

[marlint111] 30/1/2013 07:14

Trading update out today.

In line with expectations. Revenue at £4 million compared to £3.7 million in H1 2012

Cash up to 8.5 million (7.6 million at YE)

Nothing hugely positive- but impressed they are still making good progress despite the rail refranchising issues that GHF brought up.

[glasshalfull] 27/1/2013 11:24

I'm currently "out" of TRCS as documented on this thread during October, mainly as I felt the shareprice was up with events & decision to lock in profits in light of the uncertainty of the rail franchise debacle that I felt may impact on TRCS in the short term.

It's worth noting that LPA, who offer railway control & monitoring services, released full year results last week and have cited that,

..."routine orders have been affected by delays in the Rail re-franchising process..."



Will the delays in the rail franchise process affect TRCS?
I don't have the answer to that & will await the next trading statement with interest. H1 ends this week so don't envisage long to wait.

Regards,
GHF

[jamielein] 22/1/2013 15:25

There doesn't seem to be as much room for growth in the UK market given that they seem to already have all the customers they could possibly get.

I think their growth would be abroad, and I haven't heard much about that from them this year.

I was expecting modest growth this year and further growth next year.

Surely if they do hit the 40% growth then they're massively undervalued still, which isn't impossible, but unlikely given that they're no longer under the radar.

Even with only 20% growth they still seem undervalued though, given their cash position.

[marlint111] 22/1/2013 14:59

Jamielein- what makes you think they'll miss 40% growth? From the results:

Tracsis has performed well in the past year, as illustrated by significantly increased levels of revenue, profit, and a resulting strong cash position. The Directors are confident of achieving further growth in the future, and our underlying organic growth should remain on a consistent trajectory given the robust nature of the UK rail industry

[jamielein] 22/1/2013 14:33

I don't think they'll be able to hit 40% organic growth this year. It's a little puzzling that their broker estimates are so far below their own targets though so I'd imagine (and hope) they will trade ahead of these expectations.

[marlint111] 22/1/2013 14:15

Thanks Paul. Most interesting thing in the presentation for me is where they start talking about growth.

In the last results they indicated they were aiming to hit the same organic growth results (40%) as last year. Current 2013 estimates are for 10.7p EPS against 9.83 this year. This either means the broker doesn't think they'll hit this, or they've failed to update their figures properly (or they'd like Tracsis to be able to announce they're trading ahead of estimates in a few months times!).

"Growing pipeline" of acquisitions sounds interesting

[paulypilot] 22/1/2013 13:43

ED have published the slides from the Tracsis meeting last week;




PP.

[cestnous] 18/1/2013 09:45

Marlint

Quote from the above article;

'As someone quipped afterwards, what a pity we hadn't had this meeting & met these companies a year ago!'

They should have subscribed to SCSW!

[marlint111] 18/1/2013 09:41

Paul Scott also gives them a quick mention on the back of the meeting here:

[cestnous] 18/1/2013 09:39

Cheers Marlint.

[marlint111] 18/1/2013 09:38

Cestnous- I know there was an Equity Development presentation by Tracsis yesterday- so possibly people buying in on the back of that?

[cestnous] 18/1/2013 09:37

'Ello,'ello', 'ello. What's goin' on 'ere then?

[marlint111] 15/1/2013 14:52

No trading update tomorrow.

Is anyone going to the presentation organised by Equity Development later in the week?

[marlint111] 15/1/2013 13:41

I've also noticed a new 'Acquisitions' section on the website (at least I can't remember seeing it before) which spells out their approach to buying companies

[marlint111] 15/1/2013 13:40

Just a note that the AGM is being held tomorrow at 1pm. I'm not expecting a trading statement (there hasn't been one in previous years), but it is possible.

[protean] 07/1/2013 12:06

A couple of 30k+ buys today, but no movement. The MMs seem to have a fair chunk of stock to offload judging by the online limits.

[canteatvalue] 04/1/2013 15:27

Thrown together my thoughts on Tracsis here:

[paulypilot] 03/1/2013 14:59

Hi,

For anyone interested in meeting TRCS management, they are appearing at a free evening event on 17 Jan, being organised by Equity Development.

I'm going along, as all 3 companies presenting are interesting (the other 2 are VP & Regenersis, both interesting small caps).

Details here, there are a few places left, I'm told (about 10 spare seats);



Cheers, Paul.

[peladon] 01/1/2013 21:27

Excellent piece Stuart. Thanks.