accesso Technology shares drop as major customer terminates contract

(Alliance News) - accesso Technology Group PLC on Monday said it still expects to deliver full-year earnings in line with expectations, after a customer said it will not renew its agreement with the firm at the end of the month.

Shares in accesso fell 14% to 278.00 pence on Monday morning in London.

The Berkshire, England-based provider of software for the leisure, entertainment and cultural sector said a major customer said it plans not to renew its agreement for a software solution beyond its contractual expiry on January 31.

Meanwhile, accesso added that another customer that was not expected to continue beyond the end of 2025 now intends to renew its contract for one year.

The company said it expects to report a full-year outturn in line with expectations.

For financial 2024, accesso reported a pretax profit of USD11.7 million and USD152.3 million in revenue.

The firm said that the impact of contractual developments on cash earnings before interest, taxes, depreciation, and amortisation revenue will be offset by efficiency initiatives.

accesso said it will publish a headline summary of trading performance for 2025, as well as 2026 guidance, towards the end of this month.

"Looking ahead, the group continues to proactively support customers as they manage persistent macroeconomic challenges," the company said.

By Roya Shahidi, Alliance News reporter

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