Tracsis PLC (AIM:TRCS) – Pre-close trading update underwhelms and shares fall
The developer, supplier and aggregator of resource optimisation, data capture and reporting technologies to the transport industries has provided an update on trading for the full financial year to 31 July 2012 which unfortunately disappointed the market
The company provided somewhat mixed expectations for the 2013 financial year, leading the shares to fall 8% to 121p. On the back of three upgrades this year, the house broker has reaffirmed their FY12 expectations for revenue of £8.6m, PBT of £3.17m and EPS at 10.1p. Outlook for the 2013 financial year looks unclear, with the Group confident of achieving further organic growth off the back of a strong sales pipeline. This mornings share fall leaves them trading at 12x current year estimates, falling to 11.7x for 2013. Management are anticipating a significantly slower growth rate for 2013 unless any…