Virtual queuing and ticketing group accesso Technology Group PLC (LON:ACSO) will beat profit expectations for the year just ended.
In a short statement, accesso said the better than expected performance is in spite of heavy product and infrastructure spending and further investment in its recently launched accesso Prism wearable.
The current year, 2017, has also seen a good start the company reported with all areas of the business going well.
Listen: Accesso sees 'good progress across all divisions' says executive chairman
Revenues in 2016 will be in line with market forecasts. Broker Cantor Fitzgerald is predicting revenues of US$102mln and operating profit to exceed slightly its current US$14.7m profit forecast.
The broker added that the second half growth slowed a little due to the weather being too hot after an exceptionally strong first six months but with a number of big events this year the outlook remains bright.
The contract with theme part operator Merlin starts to ramp up, while Universal’s Volcano Bay water park opens in May and will showpiece accesso’s queueless technology.
Buy with a 1,750p price target is the broker's view. Shares rose 35p to1,580p.
-- Adds broker comment and share price--