Access Intelligence PLC
02 December 2005
FOR RELEASE 7.00AM 2 DECEMBER 2005
Access Intelligence plc
('Access Intelligence' or 'the Group')
'An acquisition led support services Group which is starting to deliver strong
organic growth'
Pre-Close Trading Update
* On track to deliver a year of excellent growth
* Confident of meeting full year forecast
* Net cash balances in excess of £600.000
* Pipeline of potential acquisitions buoyant
* Budgeting for another year of significant growth
The Board of Access Intelligence is pleased to provide the following trading
update in advance of the results for 12 months ended 30 November 2005, which are
expected to be announced in February 2006.
The Group continues to make good progress. The business is on track to deliver a
year of excellent growth and we are confident that the results for the year will
be inline with market expectations. The two acquisitions made in July of Willow
Starcom and Due North are fully integrated into the group and performing to
expectation. We have integrated our on and off-line storage divisions into a
single unit within Willow Starcom which itself is creating additional
opportunities. Our procurement software business Due North has just made its
first sale into the private sector alongside its strengthening public sector
client base.
We still have net cash in excess of £600,000. and the pipeline of potential
acquisitions remains buoyant. We continue to target businesses offering support
services to the business community in both the public and private sectors, with
an emphasis on recurring revenues.
Commenting on the trading update, Jeremy Hamer, Chairman, said:
'I am delighted with the momentum created by the two recent acquisitions which
has resulted in a strong finish to the year. With cash in the bank, and positive
operational cash flows going forward, the future of the Group looks very
encouraging and I remain confident that we can look forward to another year of
significant growth.'
-Ends-
For further information:
Access Intelligence plc
Jeremy Hamer (Chairman) 01904 520840
Brendan Austin (Chief Executive) 01904 520840
Colin Davies (Finance Director) 01904 520840
Beattie Financial
Brian Coleman-Smith / Nia Thomas 020 7053 6400
Background Note
Who are we and what do we do?
Access Intelligence is a group of companies delivering a range of business
critical support services to private and public sector organisations.
The team of Directors, Jeremy Hamer, Brendan Austin, Colin Davies, Ian Savage
and Alwin Thompson, has extensive experience in making successful acquisitions
while simultaneously driving organic growth: in less than two years since
flotation, Access Intelligence has acquired and successfully integrated five
businesses in four different market segments.
The Group Today
Today, Access Intelligence is a technology-based Support Services Business. It
harnesses the power of internet-based Information and Communication Technologies
(ICT) to deliver vital information and support services. Specifically these are:
* Digital marketing services and business development support.
* Online and offline data storage back-up and retrieval
* Sourcing and procurement software for both buyers and suppliers in
industry and local government
* Electronic news and current awareness digests of Government initiatives,
policies and finance affecting business, the professions and the public sector
The Business Model
The majority of the Group's income is from repeating revenues delivered through
recurring contracts ranging between one and five years. This model provides
excellent visibility of future revenues and, with effective customer retention,
outstanding gross margins over the longer term.
The Strategy for Growth
The strategy is to acquire businesses which have good management and high growth
potential that fit the revenue model while, at the same time, adding value to
the Group's existing services.
The businesses acquired will have substantial autonomy to develop within budgets
agreed with the Group Chief Executive and Finance Director, whilst benefiting
from the experience and cross selling opportunities provided by being part of an
expanding group of companies.
At this stage of the Group's development, the Central Group Executive Team,
which is based in York, will be kept to a maximum of four people, including
support staff. The Non-Executive Directors will continue to be involved in
sourcing and evaluating potential acquisitions and monitoring the performance of
the Group.
This information is provided by RNS
The company news service from the London Stock Exchange
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