TIDMACSO
RNS Number : 3732E
Accesso Technology Group PLC
07 July 2021
07 July 2021
accesso(R) Technology Group plc
("accesso" or the "Group")
Trading statement
accesso Technology Group plc (AIM: ACSO), the premier technology
solutions provider to leisure, entertainment and cultural markets,
provides the following update on recent trading and business
trends.
accesso is pleased to report that since its AGM trading
statement on 18 May 2021, the Group has continued to benefit from
pent-up customer demand and the accelerating trend towards online
commerce in its end markets. The Group has seen operators' need to
manage capacity boost its online reservation activity, and its
virtual queueing solutions have seen demand well beyond historic
levels. This has resulted in year-to-date revenues in 2021
significantly ahead of expectations.
As a result, in the absence of major new impacts from the
pandemic, the Board now expects full year revenue for 2021 to be in
excess of $100m.
Alongside this strong current trading, the Group's confidence in
its future growth trajectory is also bolstered by a significant
uptick in demand from potential customers who are looking to
introduce technology upgrades as part of their pandemic recovery
initiatives.
To capture this long-term revenue opportunity, the Group is
currently deploying additional resources across technology
implementation, product development and customer support. While
these investments will have a limited impact on Cash EBITDA in
2021, their full annualised effect will be felt in the 2022
financial year.
Overall, the Group remains focused on driving long term
recurring revenue growth and will continue to invest in the
resources necessary to secure new recurring revenue and expand
relationships with existing customers as appropriate.
Steve Brown, accesso CEO, said:
"We are pleased by the robust results we are seeing as the
leisure sector reopens. We're working hard to capture strong
pent-up demand alongside ensuring significantly higher utilisation
across our solution set. As our end markets emerge from the
pandemic, we will continue to respond with adjustments to our
business in order capture the long-term value associated with this
uptick in demand for our technology".
accesso continues to monitor the COVID-19 situation across its
entire business and prioritise the health, safety and wellbeing of
its people and customers. The positive start to the year gives the
Group confidence for the remainder of 2021 and Management remains
highly optimistic about the future for the business overall.
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014 ("MAR"). Upon the publication of this
announcement, this inside information is now considered to be in
the public domain
For further information, please contact:
accesso Technology Group plc +44 (0)118 934 7400
Steve Brown, Chief Executive Officer
Fern MacDonald, Chief Financial
Officer
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis, Hugo Rubinstein, Mark
Lander
FTI Consulting, LLP +44 (0)20 3727 1000
Matt Dixon, Adam Davidson
About accesso Technology Group, plc
At accesso, we believe technology has the power to redefine the
guest experience. Our patented and award-winning solutions drive
increased revenue for attraction operators while improving the
guest experience. Currently serving over 1,000 clients in 30
countries around the globe, accesso's solutions help our clients
streamline operations, generate increased revenues, improve guest
satisfaction and harness the power of data to educate business and
marketing decisions.
accesso stands as the leading technology provider of choice for
tomorrow's attractions, venues and institutions. We invest heavily
in research and development because our industries demand it, our
clients benefit from it and it makes a positive impact on the guest
experience. Our innovative technology solutions allow venues to
increase the volume and range of on-site spending and to drive
increased transaction-based revenue through cutting edge ticketing,
point-of-sale, virtual queuing, distribution and experience
management software.
Furthermore, COVID-19 has highlighted the benefits our
technology is able to bring to venues from facilitating social
distancing using our robust and sophisticated virtual queuing
solutions; reservation systems delivered through our agile
eCommerce platform to enable capacity management, taking queues
away from front gates; and attraction eateries utilising our
contactless food and beverage offerings.
Many of our team members come from backgrounds working within
the attractions and cultural industry. In this way, we are
experienced operators who run a technology company serving
attractions operators, versus a technology company that happens to
serve the market. Our staff understands the day-to-day operations
of managing complex venues and the challenges this creates, and
together we strive to provide our clients and their guests with
technology that empowers them to do more and enjoy more. From our
agile development team to our dedicated client service specialists,
every team member knows that their passion, integrity, commitment,
teamwork and innovation are what drive our success.
accesso is a public company, listed on AIM: a market operated by
the London Stock Exchange. For more information, visit
www.accesso.com . Follow accesso on Twitter , LinkedIn and Facebook
.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTKQLFBFDLXBBZ
(END) Dow Jones Newswires
July 07, 2021 02:00 ET (06:00 GMT)
Accesso Technology (LSE:ACSO)
Historical Stock Chart
From Aug 2024 to Sep 2024
Accesso Technology (LSE:ACSO)
Historical Stock Chart
From Sep 2023 to Sep 2024