14th Sep 2016 08:47
LONDON (Alliance News) - Accesso Technology Group PLC on Wednesday said its early momentum in the second half of 2016 gives it confidence it is on track to meet its expectations for the year, as it reported a swing to a pretax profit for the first half.
Accesso provides technology for the leisure, entertainment and cultural markets, including ticketing products.
For the half year to the end of June, the company reported a pretax profit of USD2.3 million, swung from a pretax loss of USD1.1 million a year before, as revenue rose to USD39.7 million from USD32.1 million.
Accesso attributed its jump in revenue to the benefit of two additional days of trading and a continued drive from operators to upsell guests to season passes, as well as a boost from favourable weather.
It secured 57 new businesses wins during the half year, and saw its products go live with 72 new sites.
Accesso said it is confident in meeting its expectations for 2016, although it noted it has a second-half weighting, and added that July and August have presented challenges as it has seen "unhelpful weather conditions in some key markets".
Elsewhere, Accesso said it continues to evaluate opportunities for further merger and acquisition activity, having made three acquisitions between 2012 and 2015.
"The first half of 2016 has seen Accesso win new business, extend market leadership and chart a course towards a successful full year. We are now a long-term and trusted partner to many of the world's leading attractions operators. This places us in a very exciting position, with operators not simply using our technology but increasingly informing its evolution and even, in some cases, influencing the planning of new attractions," said Executive Chairman Tom Burnet in a statement.
Shares in Accesso were down 4.6% at 1,529.40 pence Wednesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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