Last checked at 19 Nov 2020 07:00
accesso® Technology Group plc
("accesso" or the "Company")
Full Year Trading Update
accesso Technology Group plc (AIM: ACSO), the premier technology solutions provider to leisure, entertainment and cultural markets, today provides the following update on trading:
As announced in its half year report on 16 September, accesso delivered revenue for 1H 2020 of $24.6m, ahead of its revised expectations. This performance is owing to an uptick in customer venue reopenings following the first easing of Covid-19 restrictions across Europe and North America.
During 2H 2020, accesso has continued to benefit from increased activity through late summer and early autumn at customer venues, albeit with reduced capacity at many venues. This sustained level of demand in key markets and continued customer engagement with the range of accesso solutions now gives the Group reason to expect FY 2020 revenue will be comfortably ahead of its previous guidance of not less than $48m.
The Group enters 2021 with a resilient financial position and strong, durable customer relationships. This provides it with a solid footing on which to work through the balance of risk and opportunity 2021 presents. It is reasonable to expect that accesso customers will continue to see restrictions placed on their operations during the year ahead and the extent and impact of these restrictions will differ across geographies as well as the various segments accesso serves. At the same time, encouraging reports of progress towards a potential Covid-19 vaccine do provide some optimism that 2021 may bring the start of a sustained transition toward a more predictable operating environment. The Group intends to provide more detail on its outlook for 2021 at the time of its Preliminary Results in March.
For more information please contact:
accesso Technology Group plc +44 (0)118 934 7400
Steve Brown, Chief Executive Officer
Fern MacDonald, Chief Financial Officer
FTI Consulting +44 (0) 203 727 1000
Matt Dixon, Adam Davidson, Chris Birt
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis, Hugo Rubinstein, Mark Lander
About accesso Technology Group
At accesso, we believe technology has the power to redefine the guest experience. Our patented and award-winning solutions drive increased revenue for attraction operators while improving the guest experience. Currently serving over 1,000 clients in 30 countries around the globe, accesso's solutions help our clients streamline operations, generate increased revenues, improve guest satisfaction and harness the power of data to educate business and marketing decisions.
accesso invests heavily in research and development because our industries demand it, our clients benefit from it and it makes a positive impact on the guest experience.
Our commitment to improving the guest experience and helping our clients increase revenue is the core of our business. Our technology solutions allow venues to increase the volume and range of on- and off-site spending and to drive increased transaction-based revenue through cutting-edge ticketing, point-of-sale, virtual queuing, distribution and experience management software.
Many of our team members come from backgrounds working within the attractions and cultural industry. In this way, we are experienced operators who run a technology company serving attractions operators, versus a technology company that happens to serve the market. Our staff understand the day-to-day operations of managing complex venues and the challenges this creates, and together we strive to provide our clients and their guests with technology that empowers them to do more and enjoy more. From our agile development team to our dedicated client service specialists, every team member knows that their passion, integrity, commitment, teamwork and innovation are what drive our success.
accesso is a public company, listed on AIM: a market operated by the London Stock Exchange. For more information, visit www.accesso.com. Follow accesso on Twitter, LinkedIn and Facebook.