Insider Media Limited

Operational planning and software provider Tracsis has boosted revenue following its acquisition of Loughborough-based Safety Information Systems. In its final year results ended 31 July 2010, the company reported turnover of £2.65m - up from £2.31m last year.

But pre-tax profit for the year was £486,000 - down from 2009's £729,000.

Tracsis, headquartered in Leeds, said revenue had improved due to an "increase due to acquisition and organic growth". It said the buyout of Safety Information Systems has brought a "large contract win" with the Stockholm Metro.

CEO John McArthur said: "Tracsis has performed well in the past year and achieved further growth during a period of unprecedented economic and industry turmoil.

"We have continued to invest in building our delivery and R&D capabilities, expanded our sales team, and grown our organic revenue streams. At the same time we have made a further acquisition - our third to date - which adds further breadth and depth to our market offering.

"Our efforts have resulted in record sales and a strengthened industry position which puts us in a great position for the future."

The company has also launched a new product line called TRACSRoster with "several new customer accounts secured" and says it has continued success after the financial year period.

Adjusted EBITDA for the year was £701,000 (2009: £711k). Cash balances at 31 July 2010 were £2.55m (2009: £2.99m).

It said the reduction in cash was largely due to the acquisition in the year and settlement of deferred consideration from previous acquisitions. It added that the business remains debt free.