Accesso Technology Group PLC Trading Update (1306N)
January 28 2021 - 01:00AM
UK Regulatory
TIDMACSO
RNS Number : 1306N
Accesso Technology Group PLC
28 January 2021
28 January 2021
accesso(R) Technology Group plc
("accesso" or the "Company")
Trading Update
accesso Technology Group plc (AIM: ACSO) , the premier
technology solutions provider to leisure, entertainment and
cultural markets, today provides the following update ahead of its
preliminary results announcement.
The solid trading performance reported in the Group's November
update continued through the remainder of 2020, particularly over
the holiday period in North America. As a result, the Group now
expects to deliver revenue for the full year 2020 of not less than
$55.0m, which is ahead of the Board's previous expectations. The
Group expects its net cash position at the end of the year to be
just below $30.0m and its total available cash to be not less than
$56.4m.
The Group's strong Q4 trading performance indicates that,
despite the pandemic, its underlying market opportunity remains
intact and it continues to perform strongly when customer venues
are open. The importance of accesso's technology has also increased
for many operators, with recent innovations helping them manage
capacity, enable pre-booking and operate virtual queuing to
facilitate social distancing . However, the recent acceleration of
the Covid-19 pandemic and varied pace of vaccine deployment may
result in tighter restrictions than were present in Q4 carrying
forward into the early and mid-summer periods in Europe and North
America. As a result, and despite longer-term optimism resulting
from the overall progress of vaccination programmes now underway,
the Group is of the view that trading will likely continue to be
impacted by lower venue attendance over the first half of 2021. The
Group will expand on its view of its 2021 outlook at the time of
its preliminary results.
For more information please contact:
accesso Technology Group plc +44 (0)118 934 7400
Steve Brown, Chief Executive Officer
Fern MacDonald, Chief Financial Officer
FTI Consulting +44 (0) 203 727 1000
Matt Dixon, Adam Davidson
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis, Hugo Rubinstein, Mark Lander
About accesso Technology Group
At accesso, we believe technology has the power to redefine the
guest experience. Our patented and award-winning solutions drive
increased revenue for attraction operators while improving the
guest experience. Currently serving over 1,000 clients in 30
countries around the globe, accesso's solutions help our clients
streamline operations, generate increased revenues, improve guest
satisfaction and harness the power of data to educate business and
marketing decisions.
accesso invests heavily in research and development because our
industries demand it, our clients benefit from it and it makes a
positive impact on the guest experience.
Our commitment to improving the guest experience and helping our
clients increase revenue is the core of our business. Our
technology solutions allow venues to increase the volume and range
of on- and off-site spending and to drive increased
transaction-based revenue through cutting-edge ticketing,
point-of-sale, virtual queuing, distribution and experience
management software.
Many of our team members come from backgrounds working within
the attractions and cultural industry. In this way, we are
experienced operators who run a technology company serving
attractions operators, versus a technology company that happens to
serve the market. Our staff understand the day-to-day operations of
managing complex venues and the challenges this creates, and
together we strive to provide our clients and their guests with
technology that empowers them to do more and enjoy more. From our
agile development team to our dedicated client service specialists,
every team member knows that their passion, integrity, commitment,
teamwork and innovation are what drive our success.
accesso is a public company, listed on AIM: a market operated by
the London Stock Exchange. For more information, visit
www.accesso.com. Follow accesso on Twitter, LinkedIn and
Facebook.
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END
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