Accesso Technology Group PLC, a Berkshire-based company specializing in software for the leisure, entertainment, and cultural sectors, has issued a trading update for the period ending on December 31. The company has expressed confidence in meeting its full-year cash earnings before interest, tax, depreciation, and amortization expectations, with a margin of not less than 15%. Revenue is expected to reach USD148.5 million, representing a 6% increase from the previous year, attributed to organic initiatives and contributions from the VGS, Paradocs, and Digisoft acquisitions.
The company is focused on expanding its higher margin revenue streams while reducing lower margin elements of its revenue base. Positive early results have been reported from their most recent acquisition, accesso HorizonSM. Looking ahead, the company anticipates a revenue growth of around 9% in 2024 and aims to improve cash Ebitda margins to not less than 17%. Moreover, Accesso Technology is committed to achieving a medium-term cash Ebitda margin target of at least 20%.
The current stock price stands at 570.00 pence, marking a 12-month change of -29%. The update was provided by Jeremy Cutler, a reporter for Alliance News. For comments and questions, individuals are encouraged to reach out to the newsroom at [email protected]. This information is copyrighted by Alliance News Ltd. All Rights Reserved.
In conclusion, Accesso Technology Group PLC has reported promising results based on its recent acquisitions and is poised for further growth. The company remains dedicated to delivering value to its stakeholders.
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