Accesso appoints new boss as costs sting from failed acquisition

Leisure and theme park technology provider Accesso made "good progress" last year and, while underlying growth should be "broadly in line" with market expectations, one-off costs will spoil its full-year results.

The AIM-listed outfit warned that $1.7m of exceptional costs relating to professional fees associated with a "significant and well-advanced acquisition opportunity", which was ultimately scrapped by its board in October 2018, had offset much of its progress.

But Acesso, which used to be called Lo-Q and provide queuing and ticketing technology solutions to theme parks, water parks, ski resorts to cultural attractions and sporting events, said it had entered 2019 "in good health" all the same, and added that customers had continued to "respond well" to its "increasingly integrated product offering".

Elsewhere, Accesso revealed that former Hewlett Packard executive Bill Russell will take over as executive chairman from Tom Burnet, who will move to a non-executive director role on 1 March.

Chief executive Paul Noland said: "Personally, and on behalf of the board, I would like to take the opportunity to thank Tom for his exceptional leadership and tenure, as he has driven Accesso from success to success."

"I look forward to continuing my working relationship with Tom in his new non-executive capacity, as the business prepares for another year of continued growth."

As of 0935 GMT, Accesso shares had tumbled 31.54% at 1,020p.