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Accesso’s 2017 earnings to be “substantially ahead” of forecasts, thanks to TE2 acquisition boost

Published: 07:56 25 Jan 2018 GMT

theme park roller coaster
TE2’s technology analyses customer behaviour to give theme parks an insight into patterns of checking-in, ride times, shopping etc

Accesso Technology Group PLC (LON:ACSO) expects adjusted underlying earnings (adjusted EBITDA) to be “substantially ahead of expectations” when it reports its full-year results for 2017 in March.

The ticketing and queue management firm also expects revenues for the year just gone to be slightly ahead of previous forecasts.

READ: Accesso beefs up US presence with US$80mln acquisition

Accesso’s TE2 theme park software business – which it acquired for US$80mln last summer – has been the main driver of the outperformance.

The division – which uses heuristic analysis to model customer behaviour at the parks – performed “well ahead of its business plan”; generating greater-than-expected non-recurring revenues and operating at a lower cost.

READ: Accesso Technology looking forward to its traditionally busy second half

The rest of the business didn’t fare too badly, with Accesso reporting strong trading across the group as a whole.

 AIM-quoted Accesso said it has also got off to a good start in the New Year, with “all Accesso business lines…demonstrating good momentum”.

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Accesso Technology Group PLC (AIM:ACSO, OTC:LOQPF) CEO Steve Brown spoke to Proactive's Stephen Gunnion after the provider of queuing technology in the leisure, entertainment and cultural sectors issued an upbeat 2023 trading update. Acesso told investors revenues grew by 6% last year to...

on 30/1/24