Accesso Technologies raises FY revenue guidance amid 'continued strong performance'
By Iain Gilbert
Date: Wednesday 27 Oct 2021
(Sharecast News) - Technology solutions provider Accesso Technology said on Wednesday that it had seen a "continued strong performance" through September and into the October trading period, leading it to raise its full-year revenue guidance.
Accesso stated its performance continued to be driven by high demand in its end markets, coupled with the increasing use of its revenue-generating technology across its customer base.
As a result, Accesso now expects full-year revenues to be no less than $124.0m.
The AIM-listed group added that its profitability continued to improve as the growth in its higher-margin products outpaces those products with lower margins.
However, Accesso also noted that continued to see an impact from "a lag in its return to normal cost levels" as it deployed additional resources in order to calibrate for increased demand.
"As previously signalled, these investments will have a limited impact on cash EBITDA in 2021, while their full annualised effect will be felt in the 2022 financial year," said Accesso.
"Due to these dynamics, the group now expects its cash EBITDA margin for the full year 2021 to exceed 20%."
As of 0925 BST, Accesso shares were up 8.12% at 919.0p.
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