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Most will likely have missed yesterday's Bank Holiday RNS!
Long Path Partners in the USA have once again been buying. They now own 13.22%, or 5.46m shares, so have bought around another 500,000 shares in the last month:
Https://www.investegate.co.uk/accesso-technology--acso-/rns/holding-s--in-company/202209191825419294Z/
Not sure what to make of the results - I was expecting more of an upbeat description of post covid trading .
Good to see ACSO reiterate that they expect 2022 to be in line with expectations.
The cash pile is at almost $59m, down slightly for various reasons. In particular, H1 is always by far the seasonally weaker period, so given that we're now in mid-September ACSO should be pretty confident of meeting those expectations or they wouldn't be saying so.
The Food & Retail acquisition made July 1st is intriguing - from the narrative it would appear to open up the entire restaurant and hospitality sector for ACSO as well as just those in theme parks etc?
I'm guessing Six Flags are the operator who've changed their admission policies as mentioned to a more premium product, which fortunately hasn't had a material effect.
Cheers for highlighting W13Ken. It was great to pick up my Sunday Times yesterday and see ACSO tipped so prominently!
Which suggests that tomorrow's interims will come across rather well, preceded as it has been by the very strong AGM update and all of those recent long-term contract wins/renewals.
As the tip states, "84 per cent of its turnover stems from repeat contracts".
Thanks for the link W13Ken. I was alerted to the article via Google Alerts but could only access the first bit until you provided the link. Much appreciated. Fingers crossed this might get more people interested and that the HY figures on Tuesday will be positive. I have been a holder since March 2013 and thus fully experienced the share price rollercoaster Lucy Tobin writes about.
"...In the meantime, Accesso looks to be a good-value investment, with its price-to- earnings ratio standing at a reasonable 11. Recession could trigger a rough ride for shareholders, but, long term, the digital push in events makes Accesso a worthy buy."
https://www.thetimes.co.uk/article/jump-the-queue-to-invest-in-accesso-tcjswpklb?shareToken=a3cffbd717648f90929f7f0deb6b742a
Looks like ACSO have new products/upgrades ready to launch at the upcoming IAAPA at Excel London:
Https://www.planetattractions.com/news/accesso-promises-to-%E2%80%98showcase-the-future-of-mobile%E2%80%99-at-IAAPA-Expo-Europe/1540
"accesso promises to ‘showcase the future of mobile’ at IAAPA Expo Europe
accesso is set to showcase what it calls ‘the future of mobile consumer engagement’ at this year’s IAAPA Expo Europe, with expanded solutions designed to help operators connect, engage and build loyalty with visitors
Tom Anstey | Planet Attractions | 06 Sep 2022
With IAAPA Expo Europe just around the corner, accesso has revealed that it will be showcasing what it calls “the future of mobile consumer engagement”, with expanded solutions designed to help operators connect, engage and build loyalty with their guests.
Set to showcase its products at the landmark event in London, the guest experience management, ticketing, eCommerce, queuing and distribution specialist will show how its technology can help operators deliver on the modern expectations of the digital user.
“Operators in leisure and entertainment are in the business of delivering fun,” said Andrew Jacobs, accesso CCO. “With our proven, mobile-first solutions designed to make each step of the guest journey simpler, we look forward to helping operators maximise that ability, both within and beyond the confines of their venues.”
Accesso will be located on the IAAPA Expo Europe trade show floor at Booth 2110."
More good news - the contract with Village has been extended for another 5 years.
That's Merlin, Six Flags, Parques Reunidos and Village Roadshow all tied up for the next 5 years or so, and all agreed this year - a huge proportion of ACSO's client and revenue base.
Also good to see Village Roadshow are so happy with ACSO's end-to-end tech suite, including the ticketing division:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Long-Term-Extension-w/89000616
Good news indeed and it seems we have most (all?) our main clients tied in multiyear contracts so there's a 'base' income level (though if I understand right cost is aligned with how busy they are?) meaning we can focus on new business.
On top, the fact our clients are mainly in US which seems to have peaked inflation and seem likely to have a 'light' recession (2 quarters is a recession IMO, but also means the recession is in present and possibly past not the future as media would like to scare you as it's lagging indicator) I think we will avoid the pains of more Euro, and esp UK centric companies.
I just topped up this morning myself, though really just getting back to number of shares I'd held before.
Like you I have another tranche of money to put in but unlike you I'll be waiting till after report as feel I have enough in here should this take off and there seems to me a fair few other stocks I can put money to work in.
Hopefully I'll be regretting this decision in a few weeks, or at least ruefully smiling at it. :)
Don't understand the recent slide in the share price, given good recent contract wins, positive trading statement, CEO purchasing, somebody stake building etc.
So I added about 25% to my holding, taking my average up to almost £3.50. Some more income falls into my ISA on September 12, so if the price is still this low I'll add another 10% then, in confident expectation of very positive H1 figures the next day.
Excellent news this morning. Parques Reunidos have extended their agreement with ACSO to supply virtual queueing technology for five more years - and expanded it across "two additional North American venues and four European theme parks this year, with more planned for the future".
This may be an RNSNON because the immediate financial uplift is non-specific, but imo this is extremely significant. It's another vote of confidence in ACSO's tech and abilities from a big name in the industry, and is also likely to be financially very material given the impact from six additional theme parks with more to follow:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-accesso-virtual-queui/88902269
Great to see the American fund Long Path Partners buying more - they now have over 12%, with 4.96m shares:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-Holdings-in-Company/88873863
oh 13th Sept lol should have just looked on here instead of their own site
not too soon I hope as had to take money out to buy a different stock I saw quicker returns in (funny how that often doesn't come to pass!) so worried this will jump before I reinvest.
Do we know when interim report will likely drop?
Looks from previous sometime in September but I couldn'rt see anything on the website.
Anyway definitely feel this is a good stock to be in long term as the tech is exactly what customers will come to expect of theme parks as well as airports, resturants, etc
Disney parks have reported surging visitor numbers which bodes well here imv.
At some point the market will see the value here with venues reopened and technology central to enhanced guest experience.
Great to see the CEO buying around £85,000 of additional shares to add to his already substantial holding:
Https://uk.advfn.com/stock-market/london/accesso-technology-ACSO/share-news/Accesso-Technology-Group-PLC-PDMR-notification/88447288
Canaccord have bought another 500,000 shares - they now own 12.45% of ACSO, or 5.14m shares:
Https://www.investegate.co.uk/accesso-technology--acso-/rns/holding-s--in-company/202206071712510541O/
Just bought another £3k at 660p - very cheap imv- we shall see - I was wrong last time lol!
News - should provide nice cross-selling opportunities to RTP's 100+ global clients:
Https://www.accesso.com/news/accesso-and-active-network-establish-strategic-partnership-to-enhance-ski-industry-support
"accesso® and ACTIVE Network Establish Strategic Partnership to Enhance Ski Industry Support
May 16, 2022
ORLANDO, Fla. (May 16, 2022) – accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider for attractions and venues worldwide, and ACTIVE Network – which owns and operates Resort Technology Partners (RTP) – have entered into a strategic agreement to advance the reach of the companies’ solutions tailored to the ski industry. Through this partnership, ACTIVE Network customers will benefit from “Preferred Provider” access to the award-winning accesso Passport® eCommerce ticketing suite, which powered $250+ million in revenue generation for ski operators in 2021 alone. accesso eCommerce clients will now also have the option to select the RTP | One point-of-sale resort software system – a leading solution serving the ski industry for nearly 25 years and bolstering operations for more than 100 clients around the globe – to support their on-site operations.
etc"
Https://citywire.com/funds-insider/news/the-expert-view-imperial-brands-croda-international-and-ssp/a2387679?ref=citywire-money-latest-news-list#i=5
"Accesso’s just the ticket, says Shore Capital
Accesso Technology (ACSO) has provided an encouraging trading update and Shore Capital says global trends are underpinning an optimistic outlook.
Analyst Katie Cousins retained her ‘buy’ recommendation on the ticketing and queuing software provider, which slipped 2.7% to 730p.
‘The group appears motivated and excited about the future of the business, and we continue to remain optimistic about the opportunities for Accesso which we see as underpinned by global trends driving e-commerce adoption across consumer venues,’ she said.
Over the medium-term, Cousins said there was ‘scope for a recovery to a sustainable cash Ebitda [earnings before interest, tax, depreciation, amortisation] margin of over 20%, driven by the combined impact of strategic investments, better cost control, and increased global exposure’.
‘We expect this to be supported by attractive cash generation,’ she said."
An encouraging (if somewhat vague!) AGM statement today.
Since the prelims and the outlook therein were so bullish, we can take comfort from the CEO saying today:
"I'm very pleased with how accesso has started 2022. We've continued our momentum from 2021 and we are executing in line with our plan for the year"
A little more detail would have been good, but hey......
Added another £5k - fingers crossed for tomorrow.
Bought another £2k in expectations of a stunning re opening statement tomorrow - we shall see.