13th Sep 2022 11:10
(Alliance News) - accesso Technology Group PLC on Tuesday said its half-year profit more than trebled in what it labelled a "dynamic business performance".
Pretax profit in the six months to June 30 surged to USD2.9 million from USD858,000 a year prior. Revenue climbed 26% to USD63.7 million from USD50.7 million.
The Berkshire, England-based provider of software for leisure, entertainment and cultural sectors however noted that a payment of a dividend is unlikely in the short to medium term.
"We are pleased to see visitor demand broadly back to pre-pandemic levels. We are capturing this demand effectively because of our realigned strategy and operational structure, and we continue to deliver growth in revenue and profitability well ahead of pre-pandemic levels," Chief Executive Officer Steve Brown said.
accesso Technology shares fell 8.6% to 539.48 pence each in London on Tuesday morning.
Looking ahead, accesso said: "Overall, with robust revenue growth, a gross margin more in line with pre-pandemic levels and a return of the cost base to more normal levels, the group expects its full year results, excluding the impact of its Food & Retail acquisition on its profit, to be in line with the board's expectations at the start of the year."
In March, the company said for its "severe but plausible" downside scenario, it expected a 2022 revenue of USD97.7 million, which would be 22% lower than GBP124.8 million in 2021.
By Tom Budszus; [email protected]
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