accesso Technology Group plc, the premier technology solutions provider to the attractions and leisure industry, has released a trading update showing profit before tax and cash generation ahead of market expectations with revenue in line with forecasts.
Tom Burnet, CEO of Lo-Q (now accesso), was appointed in October 2010, with a mandate to by the Board to ‘go for growth.’ Since then the company’s share price has increased from around £1 to £6 a share and there have been three strategic acquisitions to date.
Commenting on today's positive trading update, Burnet said, “I am very pleased to see our Group has continued to power ahead in the second half and I remain encouraged that our strategic endeavours continue to translate in to strong, profitable, cash generative growth. It has been an exciting year, particularly given the integration of Siriusware and the addition of ShoWareTM to our team. With much opportunity to target here, and given the health of our sales pipeline, I have every confidence that 2015 will tell a similar or better story.”
accesso’s strong performance has been driven by an improved trading environment, new customer wins, performance initiatives and the impact of the integration of acquisitions into the business giving rise to cross selling opportunities across the customer base.
In the US there was a slow start to the season due to adverse weather which picked up later in the year. By contrast good weather in Europe benefitted performance, together with performance initiatives which increased per guest spending.
A solid performance through the year, with a good start in Europe led to over 23.5 million tickets sold online to date this year. The latest version the accesso Passport e-commerce solution won the ‘best new product’ award at IAAPA 2014.
A number of new agreements have been signed as well as progress in the cultural attractions market. Since its acquisition in December 2013, Siriusware has enhanced accesso’s offering to customers resulting in cross-selling with the accesso Passport e-commerce platform.
Acquired in November 2014, VisionOne, which operates ShoWare™: a customisable cloud based Software-as-a-Service (“SaaS”) ticket sales and distribution solution, will further extend accesso’s revenue opportunities in 2015, both with existing customers and in new areas of the Leisure market.