Accesso Technology Group PLC AGM Trading Statement (9029Y)
18 May 2021 - 4:00PM
UK Regulatory
TIDMACSO
RNS Number : 9029Y
Accesso Technology Group PLC
18 May 2021
18 May 2021
accesso(R) Technology Group plc
("accesso" or the "Group")
AGM Trading Statement
accesso Technology Group plc (AIM: ACSO), the premier technology
solutions provider to leisure, entertainment and cultural markets,
provides the following update on recent trading.
At 13:45 today, the Group will hold its Annual General Meeting
(the "AGM" or the "Meeting") in a virtual format. Ahead of the
meeting, the Group provides the following update on trading for the
four months ended 30 April 2021.
Accesso has started the 2021 financial year with robust
performance, driven primarily by high ecommerce volumes and strong
queuing performance in its customers' open attractions. Both
dynamics have been positively impacted by pent-up visitor demand
and the accelerating trend towards online ticketing in the Group's
end markets. For venues that have already re-opened, virtual
queueing performance has been particularly strong, as high turnout
has increased queue lengths and therefore demand for the Group's
queuing solutions. Across the product set, the Group has also seen
a notable increase in new customer demand as venues look to upgrade
technology in light of their increasing ecommerce needs.
The Group's year-to-date performance gives confidence that it
will comfortably exceed its stated revenue guidance of not less
than $83m for the full year 2021. While the Group expects to
deliver revenue beyond its initial expectations, the need to
increase staffing levels, onboard customers and manage certain
other costs associated with capturing this additional opportunity
may temper the profit impact of this revenue outperformance.
Whilst cost management remains a key priority, management
remains focused on capturing the range of new opportunities ahead
of it and driving profitable revenue growth over the long-term.
This long-term opportunity is underpinned by the global trends
driving increased ecommerce adoption in the Group's
end-markets.
Accesso continues to monitor the COVID-19 situation across its
business and prioritise the health, safety and well-being of its
people and customers. The positive start to the year gives
confidence for the remainder of 2021 and management remains highly
optimistic about the future for the business overall.
For further information, please contact:
accesso Technology Group plc +44 (0)118 934 7400
Steve Brown, Chief Executive Officer
Fern MacDonald, Chief Financial
Officer
Numis Securities Limited +44 (0)20 7260 1000
Simon Willis, Hugo Rubinstein, Mark
Lander
FTI Consulting, LLP +44 (0)20 3727 1000
Matt Dixon, Adam Davidson
About accesso Technology Group, plc
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 stands as the leading technology provider of choice for
tomorrow's attractions, venues and institutions. We invest 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 innovative technology solutions allow venues to
increase the volume and range of on-site spending and to drive
increased transaction-based revenue through cutting edge ticketing,
point-of-sale, virtual queuing, distribution and experience
management software.
Furthermore, COVID-19 has highlighted the benefits our
technology is able to bring to venues from facilitating social
distancing using our robust and sophisticated virtual queuing
solutions; reservation systems delivered through our agile
eCommerce platform to enable capacity management, taking queues
away from front gates; and attraction eateries utilising our
contactless food and beverage offerings.
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 understands 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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