Accesso downgrades FY revenue guidance

Technology firm Accesso downgraded full-year revenue guidance on Thursday following delays to new park openings and lower-than-expected consumer trading volumes throughout the peak summer period.

Accesso said full-year revenues were now expected to be $150.0m and $153.0m, down from the $160.0m previously forecast by the group.

The AIM-listed group stated delays in the timeline for its Horizon projects in the Middle East and softer-than-expected consumer trading volumes across key markets during July were to blame for the revenue weakness.

However, Accesso said its balance sheet remained strong, with a net cash position of $23.3m, and that its sales pipeline continued to show positive momentum.

As of 1010 BST, Accesso shares had slumped 25.71% to 520.0p.

Reporting by Iain Gilbert at Sharecast.com