accesso Technology says revenues ahead of expectations following strong fourth quarter
accesso Technology Group PLC (LON:ACSO) has said it expects revenues for 2020 to be ahead of its previous expectations following what the group said was a strong trading performance for its fourth quarter.
In an update, the provider of queuing, ticketing and planning software said a “solid trading performance” reported in November had continued through the remainder of 2020, particularly over the North American holiday period, and as a result, it now expects to deliver revenue of “not less than US$55mln” for the full year with net cash of just under US$30mln.
The company also said that despite the impact of the coronavirus (COVID-19) pandemic, its underlying market opportunity “remains intact” and it “continued to perform strongly when customer venues are open.
accesso said the importance of its technology has also increased for many operators as it allows them to manage capacity, enable pre-booking and operate virtual queuing to help comply with social distancing regulations.
However, looking ahead the firm said the recent rise in COVID-19 cases and the varied pace of vaccinations may result in tighter restrictions and, as a result, it is expected that its trading will “likely continue to be impacted by lower venue attendance over the first half of 2021”.