accesso Technology forecast upgrade prompts 12% jump in the share price; brokers impressed
“We view accesso as well-positioned to capture the growing e-commerce and digital solution trends,” said Shore Capital in a note to clients
Company
LON:ACSO
Accesso Technology Group PLC is the leading global provider of patented and award-winning technology solutions that redefine the guest experience, drive increased revenue, streamline operations, and support data-driven business decisions for leisure and entertainment operators. Currently serving over 1,200 venues worldwide, the company invests heavily in research and development to provide venues with technology that empowers them to deliver unforgettable guest experiences.
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“We view accesso as well-positioned to capture the growing e-commerce and digital solution trends,” said Shore Capital in a note to clients
The ticketing and virtual queuing specialist's tech is used by some of the leading theme parks
It has continued to benefit from pent-up customer demand and the accelerating trend towards online commerce in its end markets
"The group's year-to-date performance gives confidence that it will comfortably exceed its stated revenue guidance of not less than US$83mln for the full year 2021," it said
The month started with an IPO of home delivery firm Virgin Wines and will end with the flotation of ready meal delivery outfit Parsley Box
"During 2020 we proved ourselves resilient in the face of a near-total shutdown of our industry"
It is busy reporting in the UK this week, which is probably the busiest in the year for UK small and mid caps annual results. Meanwhile, in the US, Adobe is releasing earnings in an otherwise subdued week, with US earnings off season until
It is busy reporting in the UK this week, which is probably the busiest in the year for UK small and mid caps annual results. Meanwhile, in the US, Adobe is releasing earnings in an otherwise subdued week, with US earnings off season until
“This additional liquidity will leave the Group well placed to navigate the current crisis and capitalise on future growth opportunities,"
The provider of queuing, ticketing and planning software said it now expects to deliver revenue of “not less than US$55mln” for 2020 with net cash of just under US$30mln
Last week, accesso issued a bullish trading update
The lifting of some lockdown restrictions has led to a pick-up in activity while reports of the imminent arrival of coronavirus vaccines suggest a return to a more stable operating environment is in sight
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Stripping out the $46mln raised in May, net debt would have been $15.2mln, in line with the first half of last year
“Assuming market conditions do not deteriorate, we expect revenue for the full year 2020 to be not less than $48mln”
Virtual queuing, advanced online tickets and contactless payments are all possibilities once theme parks re-open
Looking ahead, the company said it was having “encouraging conversations” with clients in relation to using its products to implement social distancing measures at their attractions
While remote queuing tech is currently in use at theme parks across the world, the coronavirus pandemic has widened its appeal to more businesses as they plan to reopen their doors amid public health restrictions
Analysts at Peel Hunt said the company's virtual queueing technology could become more popular as “the days of jam-packed queues may be over”
The electronic ticketing and queuing specialist said it expects many theme parks and attractions will reopen throughout the summer
Steve Brown, CEO of the electronic queuing specialist, said transactional revenues were continuing to “grow double-digit” and now accounted for 80% of total revenues