See 9 October entry 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? probably because 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 bigger 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!