logo-loader
viewAccesso Technology Group PLC

Accesso Technology on track to meet full-year target after strong start to the year

Snapshot

  • Provides ticketing e-commerce, virtual queuing and guest experience solutions
  • Operates in leisure, entertainment and cultural markets in several countries
  • In bid discussions after several approaches
Theme Park

Quick facts: Accesso Technology Group PLC

Price: 460 GBX

LSE:ACSO
Market: LSE
Market Cap: £127.16 m
Follow

While the majority of the trading year still remains ahead of us, the board is encouraged by the trading seen at this stage of the year and remains confident in the group's outlook, maintaining board expectations for the year ahead

Chief executive, Paul Noland

 

What accesso Technology does

accesso Technology Group PLC (LON:ACSO) is an AIM-listed firm providing ticketing e-commerce, virtual queuing and guest experience solutions.

The company has active subsidiary companies in several countries, including the USA and Canada, and operates in the leisure, entertainment and cultural markets for customers as varied as Village Roadshow, Calgary Philharmonic Orchestra and Merlin Entertainments

How’s it doing

Accesso announced in July that it had received several bid approaches, leading it to put itself up for sale as required under UK takeover rules.

The group will wait to see whether the high level of interest it has received will translate into an offer on terms it would be prepared to recommend to shareholders.

The news came after the firm reported a strong start to the year, putting it on track to meet its full-year expectations.

In November, accesso added that is continuing discussions with several parties over a potential sale of the business.

There had been “refreshed indications of interest over the last several months” and the interested parties were still engaged in financial and operational due diligence, it said.

Earlier, the company said it is continuing to execute a strategic plan which it says will “realign and better integrate” its offering and maximise penetration into its addressable market, which management estimates to be worth US$3.4bn.

If the sale process did not result in an offer, accesso said it was “fully prepared” to execute the strategy.

Results have gone the backburner a little while the talks continue, but revenue to June was f $50.7m or $51.8m at constant currency (2018: $54.4m) with a pre-tax loss of US$5mln (US$1.4mln profit) as it absorbed costs for integrating its platform across all of its businesses.

Inflexion points 

  • Firm bid materialises
  • Platform integration starts to reap substantial benefits
  • Cash margins improve

 

 

 

 

 

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Accesso Technology Group PLC named herein, including the promotion by the Company of Accesso Technology Group PLC in any Content on the Site,...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: accesso Technology announces deal with The New York...

Top stories from the Proactive Investors UK newsroom: accesso Technology Group PLC (LON:ACSO) has signed a three-year partnership with The New York Botanical Garden (NYBG) to supply its Passport, Siriusware and Ingresso products. Based near The Bronx, the NYBG attracts over 1mln visitors...

on 13/6/19

2 min read