(NewsDirect)
Accesso Technology Group PLC (AIM:ACSO,OTC:LOQPF) chief executive Steve Brown discussed the company'sstrong 2023 performance with Proactive's Stephen Gunnion.
The year was marked by significantachievements including surpassing profitability targets and attainingnearly $150 million in revenue. Key developments included threestrategic acquisitions aimed at expanding the company’s globalfootprint. These acquisitions introduced new opportunities withcompanies like VGS in Milan and Paradocs in Canada, enhancingAccesso's market presence.
In2023, accesso secured 28 new venues and expanded its services to 273additional venues through these acquisitions, which also incorporated50 ski resorts in Canada, making it the largest provider of skitechnology in North America. The company's growth drivers includedincreased sales penetration and transaction counts across existingvenues.
Looking ahead, Brownhighlighted accesso's focus on improving profit margins byenhancing revenue efficiency and scrutinising low-margin revenuestreams. Furthermore, the company has recently made a significantentry into the Saudi Arabian market through a partnership, building onthe acquisition of VGS, which has been rebranded as AccessoHorizon.
Brown also discussed thelaunch of 'Freedom', a new platform for restaurant and retailoperations, which has already seen considerable uptake.
For2024, Brown mentioned the possibility of more acquisitions, supportedby a strong balance sheet and cash position. The company forecastsrevenues of around $160 million with a cash EBITDA margin of 17%,anticipating another robust year.
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