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555p now 2.69% spread .
Moved notes move to ( T ) to make room for CLX
3 Analysts ( D ) expect the price to increase by 85%.
Long Path Partners continue to buy - they now own 15.01%, or 6.298m shares. They last had 5.79m shares per their prior holdings RNS, so they've added roughly 0.5m shares now:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Holdings-in-Company/92212019
Encouraging to see ACSO initiate a £4m share buyback programme (with the bought back shares being cancelled).
Following the recent director buying this represents another signal that they believe the current share price is good value:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Share-Repurchase-Prog/92165530
Good to see the CEO buying another £83,000 of shares, and the Chairman buying another £41,000's worth:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Director-PDMR-Shareho/92106084
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Director-PDMR-Shareho/92106079
Put in a order for a modest top up @ £6.40. We'll see if it goes through. If it does, it will take my average up to £4.75.
Good to see that guidance for the year is firmly stated as being in line with expectations, despite the EBITDA reduction in the much seasonally weaker H1. I note that repeatable revenues are strong at 84%.
The all-important H2 has seen increased visitor footfall, presumably supporting the "meeting expectations" guidance given that we're already halfway through H2.
ACSO is going through a phase of acquisition integration and resetting of the business through increased investment in new and upgraded software, which impacted the H1 results.
As BodRuncie said, the three "transformational" acquisitions in H1 for $50m will soon start to benefit operations from cross-selling and other synergies.
The company looks well placed for future growth, but are currently in a consolidation phase. Costs are rising and eating into the high margins at present. ACSO have a very large headcount now, bringing in-house the Digisoft developers and the other 2 acquisitions.
If the price drops a lot now, it would be a good time to buy in if you're prepared to wait 6 months for the FY results, which I expect will start to show some of the fruits of their H1 efforts.
The cross-selling potential is already showing benefits, and will only increase imo.
Not as positive as I was hoping for. Good growth ahead but it is coming at a cost imv.
It should be tomorrow (Tuesday).
ACSO interims were released 13th Sept last year, so must be due any day now.
The current buying suggests others are confident of a good TU.
Good to see the earnings-enhancing acquisition of VGS (historic $4m PBT) has now completed:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Completion-of-Acquisi/91834459
What's up with the 5% jump at day's end?
I missed this question but minusbat has answered just as I would have done. It's also heavily implied by Steve Brown in this short interview at about 50 seconds in.
https://youtu.be/fOMaY8ecxvw
This is a good one to tuck away for a few years...
"Ken, when did Disney start ? I thought disney did their own thing including fast passes etc."
https://www.planetattractions.com/news/accesso-acquires-VGS-in-major-deal-that-sees-VGS-platform-rebranded-accesso-Horizon/2443
We bought VGS - in the article they mention "‘the world's largest theme park resort’ destination in Orlando" and it doesn't take a lot of guessing to work out who that might be. I dont know this for sure of course, but seems likely.
(FD: I work for Accesso, but this is all personal opinion, I dont have any inside knowledge here)
Ken, when did Disney start ? I thought disney did their own thing including fast passes etc.
Accesso now control ticketing for 5 of the top 6 Amusement Park Companies in the world.
✅ 1 Walt Disney Parks and Resorts Worldwide, US
✅ 2 Merlin Entertainments Group, UK
✅ 3 Parques Reunidos, Spain
✅ 4 Six Flags Entertainment Corporation, US
5 SeaWorld Parks & Entertainment, United States
✅ 6 Cedar Fair Entertainment Co., United States
7 Universal Studios Parks and Resorts, US
8 OCT Park, China
9 Aspro Group, Spain
10 Compagnie des Alpes Family Recreation, France
https://blog.bizvibe.com/blog/entertainment/top-amusement-park-companies
This newswire piece on the VGS acquisition is mostly the same as the RNS, but also includes this extra comment from ACSO's CEO which gives additional reassurance that ACSO know exactly what they're getting in this complementary acquisition:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/accesso-Acquires-VGS-Re-Introduces-VGS-Platform/91377676
"This is particularly meaningful for me and Paolo, as our working relationship dates back more than two decades to the early days of the original VGS ticketing and visitor management solution," continued Brown"
ACSO is reinforcing my view that it's a well run company with an excellent board. An easy buy-and-hold for the long term.
Just topped up as the market likes companies with global footprints.
Looks an excellent acquisition to me - immediately earnings-enhancing, opening up new markets plus the potential for cross-selling.
Terrific margins - with $8.2m of revenue generating $4.0m of PBT - and a good value purchase price too.
And:
"VGS' customers include the world's most popular theme park destination located in the United States, and one of the Seven Wonders of the Ancient World in Egypt."
This is intriguing since "the world's most popular theme park destination located in the United States" is Disney in Orlando...
Accesso had net cash of $64.7m at December 2022 and has subsequently spent $9m on the acquisition of Paradocs, so there's still plenty of cash left for more even after this acquisition:
https://www.investegate.co.uk/announcement/rns/accesso-technology-group--acso/acquisition-of-vgs/7583590
Market seems to be more optimistic here today.
Today's RNS hopefully indicates the size of ACSO's ambitions. They already have a $60m+ cash pile, but have agreed $60m of new banking facilities to enhance their "ability to execute value accretive acquisitions".
There may be some interesting corporate action in the pipeline.
Yes certainly sounds good news