29th Jan 2024 18:18
Accesso Technology Group PLC - Berkshire-based provider of software for leisure, entertainment and cultural sectors - Trading update to December 31. Expects full-year cash earnings before interest, tax, depreciation and amortisation in line with expectations at a margin of not less than 15%. Forecasts revenue of USD148.5 million, up 6% on the year before, driven by organic initiatives and initial contributions from VGS, Paradocs and Digisoft acquisitions. Continues to focus on growing higher margin revenue streams and stepping back from lower margin elements of revenue base. Reports positive early results from its most recent acquisition, accesso HorizonSM. Expects revenue growth of around 9% in 2024, and to see an improvement in cash Ebitda margins to not less than 17%. Remains committed to medium-term cash Ebitda margin target of at least 20%.
Current stock price: 570.00 pence
12-month change: down 29%
By Jeremy Cutler, Alliance News reporter
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