Share Price.com
Market Update Economic Events Directors Deals Commodities Prices News Market Movers

Accesso Technology profits slip amid soaring costs

Wednesday, 19th September 2018
Accesso Technology reported Wednesday a fall in profits as soaring costs related to the acquisitions undertaken last year weighed on performance.

For the six months ended 30 June, pre-tax profits fell 12.5% to $1.44m, and revenue increased by 16.7% to $54.4m.

The fall in profits was attributed to a 51.6% jump in operating costs to $37.6m, owing to an increased cost base from the acquisitions undertaken in 2017.

Adjusted earnings (EBITDA) grew by 69% to $11m from $6.5m.

The company said it was confident of meeting its expectations for the full year.

'From theme parks to live entertainment and hospitals, we continue to impact more and more of the digital guest or visitor journey, combining our solutions to solve problems and drive revenue to create better guest experiences for our clients,' said Paul Noland, Chief Executive Officer.

'Operationally, we have taken meaningful steps to enhance the capacity of our ticketing business, which remains a central driver of our growth. In bringing the ticketing enterprise together, we have reduced organisational complexity and will be able to increase collaboration across the teams.'




At 9:47am: (LON:ACSO) Accesso Technology Group share price was -115p at 2655p



Story provided by StockMarketWire.com

Related Shares: Accesso Tech

Share Search
Share Search Share Search

Visit the Share Search.
Share Search

Share News
Share News



SharePrice.com will do their best to ensure the quality of the information displayed on this site, but all information is provided as-is, free of charge. We cannot be held responsible for any loss, material or otherwise, due to incorrect information found here. UK data supplied by NBTrader and Digital Look. Share Prices are at least 15 minutes delayed.