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Marked progress for Accesso
Accesso Technology (ACSO:AIM) £18.325
Gain to date: 11.1%
Original entry point: Buy at £16.50, 20 July 2017
The queuing and ticketing technology solutions group continues to extend its tentacles deeper into existing markets, and find new ones to embrace. Accesso Technology’s (ACSO:AIM) first half delivered adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) up 24% to $8.7m on revenue up 17% to $46.6m.
Organic gains accounted for an estimated 10% revenue growth. The other 7% revenue growth balance was sparked by the Ingresso and TE2 businesses, a pair of acquisitions that management believes are as ‘strategically important to us as anything we have ever done,’ helping expand into the wider leisure and entertainment industries.
Accesso typically does about 40% of its full year numbers in the first half, with the meat of the summer holiday park attendances coming in July and August. On that basis the company is roughly on track to hit full year forecasts of $130m revenue despite admitted modest attraction attendances in the six months to 30 June. A big positive is that management see very limited impact from recent hurricanes that have ripped through much of the Caribbean and parts of the US.