Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Accesso Technology describes year of solid growth

(Sharecast News) - Accesso Technology Group said in a trading update on Monday that, despite making significant investments in next-generation products, it anticipated achieving cash EBITDA in line with expectations for the full-year, with a margin of no less than 15%. The AIM-traded firm forecast $148.5m in revenue, reflecting 6% year-on-year growth, which it attributed to organic initiatives and contributions from the acquisitions of VGS, Paradocs, and Digisoft.

It said its strategic focus on expanding higher-margin revenue streams while moving away from lower-margin components of its revenue base was exemplified by its complete transition out of lower-margin operational staffing and associated revenue from Accesso LoQueue operations during the second half.

The company reported positive early results from its recent acquisitions.

Accesso Horizon, formerly VGS, secured a multi-year project to install and support an entertainment destination in Saudi Arabia, marking the company's entry into a new region with significant growth potential.

Accesso Paradox - formerly Paradocs - also gained momentum, signing seven new ski venues since its acquisition.

Additionally, the recent launch of Accesso Freedom, the company's new restaurant and retail platform, had received favourable responses, securing three new customers and building a growing pipeline of interest.

Looking ahead, Accesso said it expected 9% revenue growth for 2024, driven by global expansion efforts, leveraging recent acquisitions, and onboarding customers for the new Accesso Freedom offering.

The company also anticipated an improvement in cash EBITDA margins to no less than 17%.

Accesso said it remained committed to its medium-term cash EBITDA margin target of at least 20%.

At 1231 GMT, shares in Accesso Technology Group were up 9.73% at 575p.

Reporting by Josh White for

Share this article

Related Sharecast Articles

Eli Lilly weight-loss drug 'significantly' reduces sleep apnoea
(Sharecast News) - Eli Lily's weight-loss drug tirzepatide has been shown to "significantly" reduce sleep apnoea severity, the US drugs giant said on Wednesday.
Royal Mail-owner rebuffs takeover approach
(Sharecast News) - Shares in International Distribution Services soared on Wednesday, after it emerged that Czech billionaire Daniel Kretinsky had made a takeover approach for the Royal Mail owner.
Just Eat shares drop as Q1 orders disappoint
(Sharecast News) - Shares in Just Eat dropped sharply on Wednesday after the food delivery marketplace delivered underwhelming order numbers for the first quarter, though revenue growth picked up sharply in the UK and Ireland.
Tekcapital's Innovative Eyewear inks deal with US firm
(Sharecast News) - Intellectual property investor Tekcapital announced a fresh development from its portfolio company Innovative Eyewear on Wednesday, as the latter launched a strategic partnership with Windsor Eyes, a prominent eyewear manufacturing and distribution firm.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.