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UPDATE - Accesso Technology poised for market-beating profit as momentum continues

Last updated: 00:00 02 Dec 2014 AEDT, First published: 01:00 02 Dec 2014 AEDT

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Accesso Technology (LON:ACSO) continues to power ahead and expects to report pre-tax profit ahead of market expectations in the full year.

The group has seen good momentum across the business, it told a trading statement.

There was a slow start to the season in the US for the virtual queuing specialist with unusually low theme park attendances due mainly to the poor weather.

But summer trading has been good and also extended through the autumn, it told investors.

"With the majority of the trading season now complete, the group expects to deliver adjusted profit before tax and cash generation ahead of current market expectations.  Revenues are expected to be in line with expectations," it said.

The ticketing, mobile and e-commerce solution suite - accesso PassportSM - has continued to perform well throughout with a particularly encouraging start to business in Europe and so far the group has sold  23.5 million tickets online on behalf of customers.  

The technology was further boosted when the latest version of the accesso Passport e-commerce solution won the 'best new product' award.

Siriusware - the sales and ticketing business - has also maintained good momentum securing a number of new agreements as it operates as part of the group for the first time this year.

On Friday, accesso revealed it had completed its acquistion of online ticketing solutions firm VisionOne n a move which increases the group's footprint in North and South America.

The group's chief executive Tom Burnet told investors Monday: "I am very pleased to see our group has continued to power ahead in the second half and I remain encouraged that our strategic endeavours continue to translate in to strong, profitable, cash generative growth. 

"It has been an exciting year, particularly given the integration of Siriusware and the addition of ShoWareTM to our team.  With much opportunity to target here, and given the health of our sales pipeline, I have every confidence that 2015 will tell a similar or better story."

Broker Canaccord said accesso was now a "broad, diversified technology provider", which was exposed to multiple growing product lines and geographies. 

"It is deepening customer relationships, cross-selling, winning new customers, expanding into new geographies and building high potential new products," said analyst Bob Liao.

He rates ths shares a 'buy' and targets 770p (the current price is 630p, up 1.78% on the day).

Accesso Technology Group sees 'enormous' opportunities for growth in 2018

Tom Burnet, chairman of accesso Technology Group PLC (LON:ACSO), tells Proactive's Andrew Scott they enjoyed a strong year and remain confident on the outlook for 2018. Revenues for the 12 months ended December 31 grew just over 30% to US$133.4mln, while underlying earnings (EBITDA) were...

on 29/3/18