Tracsis shares jump after entry to rail freight planning market

AIM-listed technology group Tracsis has signed an agreement with a UK rail freight operator to supply a customised version of its TrainTRACS crew scheduling software.

The contract is for the provision of software, support and additional development work and will run for three years with annual reviews.

The transaction marks Tracsis' entry into the rail freight market.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

John McArthur, Chief Executive Officer of Tracsis, commented: "This contract is a significant milestone for Tracsis and demonstrates our long held belief that our planning software is applicable to other transport verticals.

"The rail freight market holds a great opportunity for the group both in the UK and overseas and is a sector that is not burdened by the current hiatus relating to passenger franchising. We are confident this will be the first of a number of sales to freight operators, and hope to develop other complementary products to these customers in the fullness of time."

Tracsis' share price was up 2.27% to 158p at 09:15 on Friday.

MF