See 9 October blog for Tracsis.
End of year results (July 2013), released a week ago. Share price down from £2.10 to £1.88. Why did its share price drop? Tracsis’s net profit was down from 34% last year to 23% this year. However, within the 23% was the purchase of Sky High in April 2013 – an Australian data capture company – for just over £3 million.
Tracsis, however, have increased sales to just over £10 million a year, and, after the purchase of Sky High, Tracsis remain debt free. Sky High provide a more prominent presence in Australia, and Tracsis have recently increased sales in New Zealand.
The Chairman and a director of Tracsis have stood down to allow ‘new faces to take them through the next phase of growth’ – the Director mentioned above remains with Tracsis part-time. The points mentioned in early October still stand and with the recent drop in share price Tracsis is possibly an even better buy opportunity but don’t delay!