Accesso lifts expectations after strong summer trading
Leisure, entertainment and cultural technology company Accesso updated the market on its recent trading on Wednesday, reporting that through July, August and the Labor Day holiday period in the US, it had built on “excellent” first half performance and continued to capture “high demand” for its technology solutions.
The AIM-traded firm said that as a result, trading during the period was very strong.
Its ongoing momentum meant the board was now revising its expectations for 2021 full year revenues upwards to at least $117m.
That represented full recovery to 2019 trading levels, the directors noted.
“This rapid growth in revenue alongside a slower return to normal operating expenses will result in cash EBITDA being significantly ahead of current market expectations for both the half and the full year,” the Accesso board said in its statement.
“The group is currently deploying additional resources across technology implementation, product development and customer support to calibrate for the new demand.
“As previously signalled, these investments will have a limited impact on cash EBITDA in 2021; their full annualised effect will be felt in the 2022 financial year.”
At 1628 BST, shares in Accesso Technology Group were up 14.61% at 949p.