15th Sep 2015 06:59
LONDON (Alliance News) - Accesso Technology Group PLC on Tuesday said its pretax loss widened significantly in the first half as it continued to ramp up its operations, but revenue was higher and the company reiterated that its revenue and profit are skewed to the second half.
Accesso, which provides technology services to leisure and entertainment companies, said its pretax loss in the half to the end of June was USD1.1 million, significantly widened from the USD37,000 it posted a year earlier due to a sharp rise in administrative costs and by costs related to the acquisition of ShoWare.
But revenue for the group was up to USD32.1 million in the half from USD25.9 million, driven by the group securing 60 contract wins in the half in North America, South America, Asia and Australasia. In addition, it signed a deal post-the end of the half with Merlin Entertainments PLC, the owner of a number of UK theme parks and attractions.
Accesso added that its results are traditionally skewed to the second half of the year and, as a result, its first half is not the lead indicator for its overall performance.
"This is an exciting period for us, and I think today's results reflect this. We have increasing momentum across all our lines of business as we start to capitalise on the hard work and investments of the last few years. We are very confident as we move into the second half we will continue to deliver," said Chief Executive Tom Burnet.
By Sam Unsted; [email protected]; @SamUAtAlliance
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