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Accesso Technology (ACSO)

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Thursday 28 January, 2021

Accesso Technology

Trading Update

RNS Number : 1306N
Accesso Technology Group PLC
28 January 2021
 

28 January 2021

accesso® Technology Group plc

 

("accesso" or the "Company")

 

Trading Update

 

accesso   Technology Group plc (AIM: ACSO) , the premier technology solutions provider to leisure, entertainment and cultural markets, today  provides the following update ahead of its preliminary results announcement.

 

The solid trading performance reported in the Group's November update continued through the remainder of 2020, particularly over the holiday period in North America. As a result, the Group now expects to deliver revenue for the full year 2020 of not less than $55.0m, which is ahead of the Board's previous expectations. The Group expects its net cash position at the end of the year to be just below $30.0m and its total available cash to be not less than $56.4m.

 

The Group's strong Q4 trading performance indicates that, despite the pandemic, its underlying market opportunity remains intact and it continues to perform strongly when customer venues are open. The importance of accesso's technology has also increased for many operators, with recent innovations helping them manage capacity, enable pre-booking and operate virtual queuing to facilitate social distancing . However, the recent acceleration of the Covid-19 pandemic and varied pace of vaccine deployment may result in tighter restrictions than were present in Q4 carrying forward into the early and mid-summer periods in Europe and North America. As a result, and despite longer-term optimism resulting from the overall progress of vaccination programmes now underway, the Group is of the view that trading will likely continue to be impacted by lower venue attendance over the first half of 2021. The Group will expand on its view of its 2021 outlook at the time of its preliminary results.

For more information please contact:

 

accesso Technology Group plc +44 (0)118 934 7400

Steve Brown, Chief Executive Officer

Fern MacDonald, Chief Financial Officer

 

FTI Consulting +44 (0) 203 727 1000

Matt Dixon, Adam Davidson

 

Numis Securities Limited +44 (0)20 7260 1000

Simon Willis, Hugo Rubinstein, Mark Lander

 

About accesso Technology Group

At accesso, we believe technology has the power to redefine the guest experience. Our patented and award-winning solutions drive increased revenue for attraction operators while improving the guest experience. Currently serving over 1,000 clients in 30 countries around the globe, accesso's solutions help our clients streamline operations, generate increased revenues, improve guest satisfaction and harness the power of data to educate business and marketing decisions.

accesso  invests heavily in research and development because our industries demand it, our clients benefit from it and it makes a positive impact on the guest experience.

Our commitment to improving the guest experience and helping our clients increase revenue is the core of our business. Our technology solutions allow venues to increase the volume and range of on- and off-site spending and to drive increased transaction-based revenue through cutting-edge ticketing, point-of-sale, virtual queuing, distribution and experience management software.

Many of our team members come from backgrounds working within the attractions and cultural industry. In this way, we are experienced operators who run a technology company serving attractions operators, versus a technology company that happens to serve the market. Our staff understand the day-to-day operations of managing complex venues and the challenges this creates, and together we strive to provide our clients and their guests with technology that empowers them to do more and enjoy more. From our agile development team to our dedicated client service specialists, every team member knows that their passion, integrity, commitment, teamwork and innovation are what drive our success.

accesso  is a public company, listed on AIM: a market operated by the London Stock Exchange. For more information, visit www.accesso.com. Follow accesso on Twitter, LinkedIn and Facebook.

 

 

 

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