accesso Technology Group PLC - Berkshire, England-based provider of software for leisure, entertainment and cultural sectors - Reports continued strong performance through September and into the October trading period. Says its performance continues to be driven by high demand in its end-markets, coupled with the increasing use of its revenue-generating technology across its customer base. As a result, the company now expects revenue for the full year 2021 to be no less than USD124 million. This compares with reported revenue of USD56.1 million in pandemic-hit 2020 and USD117.2 million in 2019.
Also notes that profitability continues to improve as the growth in its higher-margin products outpaces those products with lower margins. accesso also continues to see an impact from a lag in its return to normal cost levels, even as it deploys additional resources to calibrate for the increased demand. the impact of this investment won't be felt in full until 2022, so 2021's cash earnings before interest, tax, depreciation and amortisation margin is expected to exceed 20%.
Current stock price: 909.00p, up 6.9% Wednesday
Year-to-date change: up 91%
By Will Paige; willpaige@alliancenews.com
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Accesso Technology Group (ACSO)