Date: Tuesday 25 Mar 2014
LONDON (ShareCast) - assesso Technology Group, an AIM-listed technology solutions provider formerly called Lo-Q, posted a leap in its 14 month revenue reflecting a period of 'exponential growth' and said it looked ahead to the rest of 2014 with confidence.
During the year the group changed its name to better reflect its services, and changed the date of its fiscal year-end for reporting purposes to better align with its major customers.
Revenue rose 29.6% to £39.6m on a comparative basis, while adjusted operating profit climbed 51.6% to £3.9m. Basic earnings per share rose 3.7% to 10.23p.
The company's financial performance was strong, with good organic growth in its queuing business supplemented by new growth, which was made possible by the acquisition of accesso LLC at the end of 2012.
Average revenue per guest increased by 8.9% supported by a 2% year-on-year increase in overall park attendance.
Chief Executive Tom Burnet said: "The past 14 months have seen exponential growth for Accesso and I am delighted with the group's excellent operational performance.
"Firstly, 2013 has been an outstanding period for the newest part of our business with the team winning mandates right across the Accesso Passport ticketing suite, following the extremely successful acquisition of Accesso in December 2012, and subsequent integration through 2013. The technology, operations and sales synergies between the Accesso LoQueue product line and Accesso services are proving more and more evident.
"Secondly, I am very excited by our latest acquisition, Siriusware. Not only does it strengthen the already world-class technology platform we have here at Accesso, it also takes us into new markets and new geographies."
The group is currently targeting expansion in Asia, which is the fastest-growing theme and water park market globally.
Looking ahead Burnet added: "As we continue to win mandates with new customers, expand opportunities with existing ones, forge ahead into the Asian market, and start to make headway into new industry verticals, I have great confidence in the abilities of our expanded team and in our prospects for 2014."
Signing of three-year deal with Compagnies des Alpes
The results come after the group on Monday announced it had signed a three year agreement with Compagnies des Alpes (CDA) for the provision of its Passport eCommerce solution for five CDA parks in Belgium and Holland.
It was the first win for Accesso Passport in Europe.
NR
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