Leeds-based Tracsis plc, a provider of software and services for the traffic data and transportation industry, said its revenue increased 16% to £18.1 million and statutory pre-tax profit soared 33% to £2.4 million in the six months ended January 31, 2018.

Tracsis is proposing to hike its interim dividend 17% to 0.7p per share.

Tracsis CEO John McArthur said: “I am very pleased with the group’s performance in H1 and all key financial and operational metrics were comfortably ahead of the previous year, with good progress being made on a number of strategic initiatives which culminated in the acquisition of TCS and DRS.  

“Looking ahead to H2, given the strength of our trading coupled with the number of new opportunities in play the group is confident of delivering full year results in line with market expectations.”

In its outlook, Tracsis said: “The group has performed well in the period and a number of interesting and exciting opportunities remain ongoing. 

“The management team is confident of delivering a second half performance in line with market expectations and that is the focus in the months ahead.  

“The business remains well placed within the UK transport market and our core target markets of rail technology and traffic and transport data services continue to be supported by a favourable market backdrop and positive growth drivers.

“The group continues to rigorously assess new strategic opportunities, but as ever we remain naturally prudent in our approach in order to maximise value for shareholders.”