16th Mar 2016 09:31
LONDON (Alliance News) - Accesso Technology Group PLC's pretax profit jumped in 2015 thanks to higher revenue and growth across its product lines.
The company, which provides ticketing and queue-management technology to leisure and entertainment industry clients, said its pretax profit for the year to the end of December rose 42% to USD7.2 million from USD5.1 million, as revenue increased to USD93.2 million from USD75.1 million, a 24% rise.
Accesso reported higher sales for its LoQueue, Passport, and SiriusWare divisions, driven by contract wins, while its ShoWare business performed in line with expectations in its first full year of ownership.
Accesso said strong momentum remains in place across its business lines, and it has continued to gather momentum on mobile sales.
The company did not declare a dividend, saying it would instead direct its cash to product development and potential acquisitions.
"2015 was another strong year for accesso, across every part of our business. We have devoted considerable time, investment and technical attention to our product suite over the past twelve months. The rewards of those efforts are now starting to show through financially, operationally and in the quality of conversation we are able to have with our customers," said Tom Burnet, Accesso's chief executive.
Leonard Sim, who developed and prototyped Accesso's first queuing product in 1998, going on to found Lo-Q in 2000, will retire as an executive director immediately, the company said.
Accesso shares were up 4.4% to 1,000.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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