Accesso Technology Group PLC Trading Update (0448L)
September 08 2021 - 2:00AM
UK Regulatory
TIDMACSO
RNS Number : 0448L
Accesso Technology Group PLC
08 September 2021
08 September 2021
accesso (R) Technology Group plc
("accesso" or the "Group")
Trading Update
accesso Technology Group plc (AIM: ACSO) , the premier
technology solutions provider to leisure, entertainment and
cultural markets, gives the following trading update ahead of its
interim results which will be released on 14 September 2021.
Through July, August and the Labor Day holiday period, accesso
has built on excellent first half performance and continued to
capture high demand for its technology solutions. As a result,
trading during this period was very strong. The Group's ongoing
momentum now leads the Board to revise upwards its expectations for
full year 2021 revenues to not less than $117m. This represents
full recovery to 2019 trading levels.
This rapid growth in revenue alongside a slower return to normal
operating expenses will result in Cash EBITDA being significantly
ahead of current market expectations for both the half and the full
year. The Group is currently deploying additional resources across
technology implementation, product development and customer support
to calibrate for the new demand. As previously signaled, these
investments will have a limited impact on Cash EBITDA in 2021;
their full annualised effect will be felt in the 2022 financial
year.
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 +44 (0) 203 727 1000
Matt Dixon, Adam Davidson, Jamille Smith
About accesso Technology Group
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 more than
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 understand 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
.
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