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Accesso Technology trades better than expected despite lower revenues

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  1. 03 Jun, 2025
  2. Home
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Iain Gilbert Sharecast News
16 Sep, 2020 10:50

Accesso Technology trades better than expected despite lower revenues

Accesso Technology Group

502.00p

17:01 03/06/25
-0.79%
-4.00p

Technology solutions provider Accesso said on Wednesday that recent trading had been better than expected after more venues using its products reopened following Covid-19 lockdowns.

FTSE AIM All-Share

753.51

17:15 03/06/25
n/a
n/a

Software & Computer Services

2,626.68

17:14 03/06/25
-0.03%
-0.75

Accesso said first-half revenues more than halved to $24.6m as forced closures beginning in March weighed on its performance. However, the AIM-listed group highlighted that this figure was still ahead of earlier projections.

Transaction revenue, which was severely impacted by the coronavirus pandemic, fell 66.7% to £12.1m, while ticketing and distribution revenues dropped 53% to $16.8m and guest experience revenues nearly halved to $7.8m.

Accesso also swung to an underlying loss of $7.4m, a marked turnaround from the EBITDA of $11.4m recorded a year earlier, while pre-tax losses came to $18.47m - a 298% widening year-on-year.

Looking ahead, Accesso said almost 80% of passport and 60% of LoQueue customer venues had reopened, and also highlighted that it had won multiple new contracts in the ski sector ahead of the winter season.

Chief executive Steve Brown said: "During the first half of 2020 we have been successful in managing Accesso through the onset of the Covid-19 pandemic and preparing the business to navigate through further uncertainty.

“While the pandemic does continue to impact our end-markets, we are now seeing a significant number of operators reopening their doors at reduced capacity."

As of 1050 BST, Accesso shares were up 9.47% at 312.0p.

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