Trace Computers Plc has announced year end pre-tax profits up 30% at UKP1.8m, on turnover of UKP13.9m. The figures are the first full year results that Trace has announced since it became a public company in June last year. When it floated, Trace proclaimed its ambition to be to grow, both organically and through acquisition. The idea was to make the company big enough to compete more effectively in vertical markets such as banking and insurance. Since June, Trace has indeed acquired five companies – Prospect, Micrologic, Gordon & Gotch, Wespac and Proteus. And turnover has increased to UKP13.9m from UKP9.7m. All of the acquired companies except Micrologic were trading at a loss when acquired, and all except Proteus are now profitable. Trace provides software for the property management, insurance, banking, building society, publishing, warehousing and stockbroking markets. The software for those markets is proprietary and it also markets Unisys’s GWB banking product and its USSS building society product. Of its various markets, Trace says all have done well except property management, which has seen lower profits in a dull property market, and stockbroking. Image Software, of which Trace bought the outstanding 49% in January, continued to trade profitably, contributing UKP250,000 to overall pre-tax profits. Image develops specific modules of GWB. Pink Computing, which provides networking and installation services for Unisys systems, and Wordflow, Trace’s computer supplies company, both achieved record profits, making around UKP100,000 a piece. Chairman R C Carefull says Trace will now be moving into new markets through growth, rather than acquisition. It will also emphasise the development of open systems software, specifically translating its Tramps property management and Twins insurance packages.
