Tracsis overcomes the uncertainty to deliver an increase in revenues

Tracsis, which was spun out of the University of Leeds, designs and licences software which covers crew scheduling, crew rostering and performance modelling.

The group achieved revenues of 2.65m for the year ended July 31, an increase of 14.5 per cent on the previous year.

The company also delivered underlying earnings of 701,000, slightly down on the 711,000 achieved last year.

Tracsis said the company's products had extensive growth potential, demonstrated by the award of a large contract with the Stockholm Metro.

John McArthur, the company's chief executive, said: "Tracsis has performed well in the past year and achieved further growth during a period of unprecedented economic and industry turmoil.

"Our efforts have resulted in record sales and a strengthened industry position which puts us in a great position for the future."

Tracsis said trading for its core software products was stronger than anticipated.

The company said this partly reflected the growing reputation of Tracsis within transport circles, and also demonstrated the "continued and significant pressure" on transport operators to increase operational efficiency and remove costs.

While software revenue was buoyant, the company said its consultancy activity during the period was "somewhat depressed".

Tracsis said this was entirely in line with expectation, given the economic environment and the uncertainty over public spending, particularly in connection with Network Rail, which was brought about by the change of Government.