viewAccesso Technology Group PLC

accesso jumps as it sees strong start to 2019

The e-ticketing firm said that in the four months to 30 April it had seen “strong demand” for its core ranges and was planning "significant" investments to meet customer demand

Theme park
There was stronger than expected performance from the firm's Ticketing division

accesso Technology Group PLC (LON:ACSO) shares jumped on Tuesday after the firm reiterated its full year expectations following a strong start to 2019.

In a trading update ahead of its AGM on Tuesday, the ticketing and ecommerce services provider said that in the four months to 30 April it had seen “strong demand” for its core ranges with its accesso Passport and Siriusware products now operating in tandem at 13 locations worldwide with several other planned before the end of the year.

READ: Accesso wins multi-product contract with New Orleans’ National WWII Museum

The company also said the integration of its Accesso Passport and TE2 systems was being rolled out across 10 locations owned by US theme park group Cedar Fair after a successful integration at its Knotts Berry Farm theme park.

Across the rest of its divisions, accesso said its Guest Experience segment had traded well at the start of the year, while there was stronger than expected performance from its Ticketing division, although this was offset by the slower than expected roll-out of distribution activities in North America, and as such the segment traded in line with expectations.

Looking ahead, the company said that it was making “significant” investments into the integration of its products in order to meet increased consumer demand, adding that by broadening its range of solutions it would be able to “unlock additional cross-sell and up-sell potential”.

Overall, the company said it was “encouraged” by the trading so far this year and remained confident in its full year outlook.

In a note to clients, analysts at Peel Hunt said the Cedar Fair roll out following the Knotts Berry Farm trial showed the “potential” of the company’s product once its different solutions were “fully modular, customisable, and integratable”.

In early trading, accesso shares were 2.8% higher at 812p.

--Adds broker comment and share price-- 

Quick facts: Accesso Technology Group PLC


Price: 931 GBX

Market Cap: £384.06 m

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