Leeds-based transport data analytics firm Tracsis plc said on Wednesday its revenue is expected to have increased by 19% to over £81.5 million in the year ended July 31, 2023.

Tracsis is a technology company and provider of software and hardware products, data capture and data analytics/GIS services for the rail, traffic data and wider transport industries.

In a trading update, Tracsis said trading for the year has been in line with the board’s expectations. The group expects adjusted EBITDA to rise to £16 million from £14.2 million.

“The Rail Technology and Services Division has delivered strong growth in the UK based on the delivery of a series of large multi-year SaaS contracts for Train Operators and Network Rail,” said the firm.

“This has driven a further increase in rail technology software licence usage and annual recurring revenue, despite ongoing industrial disputes and the delayed transition to the new Great British Railways structure.

“The Rail Technology and Services Division has also delivered strong growth in North America driven by the US Government’s infrastructure spending bill which is accelerating new technology investment.  

“We are building good sales momentum with Transit and Freight Operators and rail served ports and industrials as we expand our product portfolio.

“The Data, Analytics, Consultancy and Events Division has delivered revenue growth ahead of expectations.

“This includes the benefit from new contract wins in Data Analytics/GIS and ongoing demand for specialist consultancy services, in addition to a very strong post Covid lockdown recovery in the Events and Traffic Data businesses.

“In order to continue providing a solid platform for ongoing scalable growth, the group has continued to integrate its activities, technologies and operating model.

“Alongside this, technology investment has increased to accelerate future growth which will continue through the forthcoming financial year.  

“As a group we expect the weighting of growth to be in the second half of the next financial year as we continue to grow our pipeline and deliver a large order book of work.”