Sunny weather helped accesso Technology (ACSO) make a "cracking start" in Europe, says chief executive Tom Burnet. The e-ticketing and virtual queuing specialist increased its first-half worldwide ticketing volumes by 13 per cent and grew its operating profit - adjusted for acquisition costs and currency impacts - by a quarter.
The group renewed agreements with Blackpool Pleasure Beach and Legoland in Windsor for its Qsmart product, which allows guests to queue for attractions without physically standing in line. That helped its LoQueue segment achieve a 23 per cent increase in average revenue per guest in Europe. It also agreed its first installation in Asia with The Movie Animation Park Studios in Malaysia, and partnered with Vision Works Global to expand into the fast-growing South Korean theme park market.
The software group signed a three-year deal with Merlin Entertainments (MERL) for its ticketing and e-commerce solution, accesso Passport, that includes a pilot installation at Thorpe Park. It also penned a deal with Caesars Entertainment to provide its ticketing suite at the world’s tallest observation wheel, the Las Vegas High Roller. And Siriusware, the ticketing and point-of-sale technology group it acquired in December, signed deals with Baltimore’s National Aquarium and Houston’s Holocaust Museum.
Broker Canaccord Genuity expects pre-tax profits of $7.9m, giving EPS of 26.5¢, compared with $5.8m and 27.2¢ last year.
| ACCESSO TECHNOLOGY (ACSO) | ||||
|---|---|---|---|---|
| ORD PRICE: | 506p | MARKET VALUE: | £103m | |
| TOUCH: | 497-515p | 12-MONTH HIGH: | 785p | LOW: 447p |
| DIVIDEND YIELD: | nil | PE RATIO: | 52 | |
| NET ASSET VALUE: | 196¢* | NET DEBT: | 12% | |
| Half-year to 30 Jun | Turnover ($m) | Pre-tax profit ($m) | Earnings per share (¢) | Dividend per share (¢) |
|---|---|---|---|---|
| 2013 | 21.0 | 0.4 | 1.4 | nil |
| 2014 | 25.9 | 0.0 | 2.3 | nil |
| % change | +23 | - | +70 | - |
*Includes intangible assets of $32.5m, or 159¢ a share £1=$1.61 | ||||
