Accesso Technology Group (ACSO)

Sector:

IT Services

Index:

FTSE AIM All-Share

 704.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 759.00
  • 52 Week Low: 507.00
  • Currency: UK Pounds
  • Shares Issued: 41.74m
  • Volume: 0
  • Market Cap: 293.83m

Accesso delivers record revenue in preliminary results

By Josh White

Date: Tuesday 04 Apr 2023

LONDON (ShareCast) - (Sharecast News) - Accesso Technology Group reported a 12% increase in revenue in its preliminary results on Tuesday, to $139.73m, and a 16.3% increase at constant currency to $145.2m.

The AIM-traded firm's cash EBITDA, however, decreased 8.3% to $25.81m.

Its statutory profit before tax was ahead 2.5% at $12.42m, while adjusted basic earnings per share slid 41.2% to 35.93 US cents, and basic earnings per share tumbled 54.3% to 24.41 cents.

Despite ongoing economic uncertainty, the company reported encouraging trading in January and February, with early 2023 figures in line with expectations.

Accesso also reported a strong cash position, with net cash at the end of 2022 up 1% year-on-year at $64.7m, and no debt drawn.

The firm said it was continuing to consider value-accretive acquisitions that align with its strategy, as demonstrated by the acquisition of "high-quality" food and beverage technology for £0.75m on 1 July last year.

"In 2022 we delivered a record year for revenue, continuing our robust growth trend as well as very strong cash EBITDA, beating our expectations," said chief executive officer Steve Brown.

"Accesso today is a strategically well-aligned, focussed, and efficient business which is resilient in the face of challenge and capable of meeting the complex and evolving needs of the leading venue operators in the world.

"During the year, with clear demand for our expanded offering, we achieved long-term renewals for two key enterprise customers, continued to secure a range of new customers and further expanded our penetration within our client base with ongoing cross-sell success."

Brown said the company moved into 2023 with a focus on continued operational excellence and further organic growth, while also evaluating opportunities for further expansion through strategic opportunities.

"With a strong operating performance track record and a robust balance sheet, we have never been better positioned as we move into 2023 and beyond."

At 0940 BST, shares in Accesso Technology Group were up 2.08% at 687p.

Reporting by Josh White for Sharecast.com.

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ACSO Market Data

Currency UK Pounds
Share Price 704.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 759.00
52 Week Low 507.00
Volume 0
Shares Issued 41.74m
Market Cap 293.83m

ACSO Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
91.06% below the market average91.06% below the market average91.06% below the market average91.06% below the market average91.06% below the market average
56.63% below the sector average56.63% below the sector average56.63% below the sector average56.63% below the sector average56.63% below the sector average
Price Trend
37.44% above the market average37.44% above the market average37.44% above the market average37.44% above the market average37.44% above the market average
27.47% above the sector average27.47% above the sector average27.47% above the sector average27.47% above the sector average27.47% above the sector average
Income Not Available
Growth
66.2% below the market average66.2% below the market average66.2% below the market average66.2% below the market average66.2% below the market average
95.18% below the sector average95.18% below the sector average95.18% below the sector average95.18% below the sector average95.18% below the sector average

What The Brokers Say

Strong Buy 2
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 3
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ACSO Dividends

No dividends found

Trades for --2024

Time Volume / Share Price
0 @ 0.000p

ACSO Key Personnel

CEO Steve Brown
CFO Fern MacDonald

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