Ticketing and queue management leader accesso Technology Group PLC (LON:ACSO) is on course to achieve its aims in 2017 after an in-line first half.
The group hailed a strong first half performance, with new customer wins across the business reflecting the strength of its offering, success in offering multiple product solutions and its ability to access new verticals and increase geographic reach.
Contributions from new regions are increasing with each period, while customers continue to adopt or combine accesso products in new markets.
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Revenue in the first half of the year rose 17.4% to US$46.6mln from US$39.7mln the year before, despite dodgy weather conditions affecting accesso LoQueue and accesso Passport revenues in some regions.
Adjusted operating profit, which the board considers a key underlying metric, increased by 30.0% to US$6.5mln from US$5.0mln the year before.
Adjusted underlying earnings (EBTIDA) jumped 33.8% to US$8.7mln from US$6.5mln though profit before tax fell to US$1.6mln from US$2.3mln, reflecting acquisition related expenses, contingent payments related to its acquisition of Ingresso and share based payments.
"Accesso has started 2017 in a positive and determined way, delivering two acquisitions guided by one central aim: our desire to offer operators technology that drives revenue by improving guest experiences," said Tom Burnet, executive chairman of accesso.
“The strength of the group's overall performance during the period is a validation of our efforts to diversify the business across markets and geographies, while our products continue to generate significant demand among prospective and existing customers.
“Although the first half of the year traditionally accounts for less than 40% of annual revenue, the board looks forward to the remainder of the year with confidence," Burnet added.
The board reiterated its view on dividends, which is that payment of them is unlikely in the short-to-medium term while the company is in the fast growth pace of its evolution.