Trading Update

RNS Number : 4019Y

Accesso Technology Group PLC

01 December 2014

 

1 December 2014

accesso® Technology Group plc

("accesso" or the "Group")

Trading Update

-  Group to deliver adjusted profit before tax and cash generation ahead of market expectations -

accesso Technology Group plc(AIM: ACSO), the AIM listed premier technology solutions provider to the attractions and leisure industry, is pleased to provide an update on recent trading.  

Financial performance

The Group continues to perform strongly, driven by new and existing customer wins, the impact of a number of commercial performance initiatives and an improving trading environment across each of the Group's lines of business.  With the majority of the trading season now complete, the Group expects to deliver adjusted profit before tax and cash generation ahead of current market expectations.  Revenues are expected to be in line with expectations. 

Operational performance

During the past six months the Group has continued to make solid progress against its strategic objectives, driven by good momentum right across the business.

The Group's innovative virtual queuing solutions, accesso LoQueue^SM experienced a slow start to the season in the US market based on unusually low Theme Park attendances, which were heavily impacted by poor winter weather.  However, summer trading has been good and also extended through the autumn period. In Europe, accesso LoQueue benefited from consistently good weather and attendance levels throughout the season. In addition, a number of new performance initiatives were trialled at certain parks and the results of these have been encouraging, particularly in generating an increase in spend per guest.

The Group's ticketing, mobile and e-commerce solution suite, accesso Passport^SM has continued to perform well throughout the year with a particularly encouraging start to business in Europe.  So far this year, we have sold over 23.5 million tickets online on behalf of our customers.  The value of our technology was further underpinned at the recent attractions industry global trade show, IAAPA, where the latest version of our accesso Passport e-commerce solution won the 'best new product' award.

Siriusware has maintained good sales momentum securing a number of new agreements, as well as achieving excellent traction in the cultural attractions market. Operating as part of the Group for the first time this year, Siriusware has deepened the Group's existing client relationships.  This was evidenced early this year by a number of cross-selling opportunities with the accesso Passport e-commerce platform. 

Most recently the Group announced the acquisition of VisionOne, which operates ShoWare™: a leading, customisable cloud based Software-as-a-Service ("SaaS") ticket sales and distribution solution for venue operators. VisionOne offers its services to more than 475 venues and leisure organisations throughout North and South America. As the Group moves into 2015, VisionOne will allow the Group to target new revenue opportunities from existing customers as well as extend its reach to an entirely new set of customers within the Leisure arena.

Commenting Tom Burnet, Chief Executive Officer of accesso Tehnology Group plc 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 ShoWare^TM 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."

For further information, please contact:

accesso Technology Group plc	[phone]
Tom Burnet, Chief Executive Officer
John Alder, Chief Financial Officer
FTI Consulting, LLP	[phone]
Matt Dixon, Lucy Delaney, Adam Davidson
Canaccord Genuity Limited	[phone]
Simon Bridges, Cameron Duncan, Brendan Gulston
Numis Securities Limited	[phone]
Etienne Bottari, Simon Willis, Mark Lander

accesso® Technology Group: about us

About accesso^® Technology Group

accesso (AIM: ACSO) is the premier technology solutions provider to the global attractions and leisure industry. Our patented and award-winning solutions drive increased revenue for attraction operators by significantly improving the most important part of an attraction visit: the guest experience.  Our solutions add value to operators at every point in the guest journey:

·      We drive attendance

The accesso Passport^® ticketing suite is a comprehensive, easy-to-use cloud solution that processes many millions of ticket and season passes every year, enabling operators to maximize up-sell and cross-sell with ease to drive greater revenue.

·      We handle payments

Our payment gateway carries level 1 PCI security certification and 24/7 support.  It provides the tools, security and support operators need to drive sales and has so far processed more than $5 billion in transactions.

·      We take guests out of line

Since 2001 over nine million guests have used a patented accesso LoQueue^SM solution to queue less, ride more, enjoy a better experience and increase  in-attraction spend.

·      We simplify point-of-sale

We offer a comprehensive point-of-sale solution through software modules that combine ticketing, membership, retail, food/beverage transactions, rentals, credit card processing and many other functions into a single system eliminating the need for separate systems and databases.

·      We increase engagement

accesso enables operators to engage more deeply and profitably with guests: pre-sale, in-attraction or post-visit.  Our mobile apps have provided more than 2.75 million people with rich iOS and Android content to better plan their visit, buy their ticket on-the-go and unlock new experiences within an attraction. 

More than 1000 attractions worldwide currently employ accesso technology - from theme parks, water parks, cultural attractions, live performance venues and sporting events to ski and snow parks.  We are proud that our solutions are trusted by the majority of the leading names in the leisure industry, including Six Flags Entertainment, Cedar Fair Entertainment, Merlin Entertainments, International Speedway Corporation, Palace Entertainment, Compagnie des Alpes, and Herschend Family Entertainment.

accesso is a public company, listed on AIM: a market operated by the London Stock Exchange. For more information visit: www.accesso.com. 

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