Access Intelligence flags good first-half revenue growth

Marketing and communications software company Access Intelligence reported “good” first-half progress in a trading update on Friday, with a “robust performance” in its core business, and continued progress made on the integration of Isentia.

The AIM-traded firm said it now expects total revenue for the six months ended 31 May to be at least £32.7m, making for a year-on-year increase of over 195%.

Excluding the acquisition of Isentia, revenue was ahead 16%.

The group said its annual recurring revenue was £59.6m at the end of the period, delivering growth of £0.7m in the six months.

Adjusted EBITDA was anticipated to be at least £0.2m, meanwhile, in line with the board's expectations.

Cash at 31 May totalled at least £9.2m, which was ahead of the directors’ expectations due to “better than anticipated” working capital management.

“The first half of the year has seen the group trade in line with expectations,” said non-executive chairman Christopher Satterthwaite.

“We have delivered strong growth in the core business with a good performance being delivered by the group's EMEA and North America region including a significant number of blue-chip customers won in the period.

“The launch of Pulsar in ANZ has been well received and we expect the integration of the company's global product suite to support further progress in APAC with continued new customer wins.”

Satterthwaite said the company was continuing to make good progress on the integration of Isentia, and had been assessing its current business operations to ensure that it could “fully optimise” its market positioning to capture an “undoubted” market opportunity.

“This includes a comprehensive analysis of the current market dynamics across its regional presence.

“The board remains highly confident about realising the cost synergies identified at the time of the acquisition.

“Overall, the board is pleased with the progress being made by the Group and remains positive about the outlook.”

At 0802 BST, shares in Access Intelligence were up 0.91% at 105.45p.

Reporting by Josh White at Sharecast.com.