Tracsis PLC Contract Wins (8176N)

TIDMTRCS

RNS Number : 8176N

Tracsis PLC

26 May 2020

26 May 2020

Tracsis plc

("Tracsis" or the "Group")

Large Rail Contract Wins

Tracsis, a leading provider of software, hardware and services for the rail, traffic data and wider transport industries, is pleased to announce that it has been awarded two major rail contracts.

The first award is a further significant contract for the provision of its TRACS Enterprise software product with another major UK rail operator. The contract will be delivered over multiple years and is for several million pounds, which includes the renewal of some existing systems already licenced by the customer, plus significant levels of additional functionality through the TRACS Enterprise suite, including the ATTUne timetabling software that was added to the Group via the acquisition of Bellvedi Limited in April 2019.

The contract will not have a major financial impact in the current financial year ending 31 July 2020 but helps to underpin our confidence for the future, and the product suite that has been in significant development in recent years.

The second win is a major order for the provision of remote condition monitoring technology, plus our associated Centrix software and related support services, to an existing customer. The contract is for several hundred thousand pounds, and will be delivered over the coming months.

The Rail Technology and Services division continues to operate with high activity levels, and continues to pursue a number of other new opportunities across its range of software offerings.

Chris Barnes, Chief Executive Officer, commented:

"We are delighted to have secured these major contracts with two major UK rail customers and look forward to delivering these projects in the months to come. The UK rail industry continues to adopt our award winning TRACS Enterprise software and remote condition monitoring technology, both of which can bring significant benefits to the operators, and these latest wins are testament to the strength of our team and quality of our market leading products."

Enquiries:

Tracsis plc Tel: [phone]

Chris Barnes, CEO

Max Cawthra, CFO

finnCap Ltd Tel: [phone]

Christopher Raggett/Charlie Beeson, Corporate Finance

Andrew Burdis, Corporate Broking

Notes to editors:

-- Tracsis plc is a technology company and a leading provider of software and hardware products, data capture and data analytic services for the rail, traffic data and wider transport industries.

-- Tracsis' products and services are widely used to increase efficiency, reduce cost and risk and improve operational and asset performance, safety management and decision making capabilities for clients and customers.

-- The Group i s split into two principle operating areas built around detailed industry knowledge and expertise :

- Rail Technology & Services: Software and technology led business supported by consultancy. Develops remote condition monitoring hardware and safety, productivity improvement, risk management and data acquisition software for rail infrastructure providers and software that solves complex resource, asset optimisation and control problems for Train Operators.

- Traffic & Data Services : A largely services led business that focuses on data capture, data analytics, data insights and event traffic management within transport and pedestrian rich environments. The business provides technology and data that underpins large scale intelligent transport system and smart city planning and decision making.

-- Tracsis has a blue-chip client base which includes all major UK transport owning Groups. The business also works extensively with Network Rail, the Department of Transport, TfL, multiple local authorities, major outdoor music and sporting event organisers, and a wide variety of large engineering and infrastructure companies.

-- The business drives growth both organically and through acquisition and has made fourteen acquisitions since 2008.

   --    For more information on Tracsis please visit  http://www.tracsis.com 

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May 26, 2020 02:00 ET (06:00 GMT)