Share Name Share Symbol Market Type Share ISIN Share Description
Accesso Technology Group Plc LSE:ACSO London Ordinary Share GB0001771426 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  5.00 0.75% 670.00 30,745 09:00:25
Bid Price Offer Price High Price Low Price Open Price
660.00 680.00 670.00 665.00 665.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 93.12 4.06 9.59 69.8 184.0
Last Trade Time Trade Type Trade Size Trade Price Currency
13:24:30 O 400 679.00 GBX

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25/6/201912:36accesso Technology Group - Queuing growth for the future4,139

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Accesso Technology Daily Update: Accesso Technology Group Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker ACSO. The last closing price for Accesso Technology was 665p.
Accesso Technology Group Plc has a 4 week average price of 640p and a 12 week average price of 640p.
The 1 year high share price is 2,985p while the 1 year low share price is currently 640p.
There are currently 27,428,667 shares in issue and the average daily traded volume is 117,742 shares. The market capitalisation of Accesso Technology Group Plc is £183,772,068.90.
spud: Just dropping by and seeing the price doing the same thing. Such a shame, this was a class company when TB was at the helm - Great P.R. with a corresponding share price. When was the last new LARGE contract signed? They can't continue to rely on existing past successes! I'd love to invest again, but the story is no longer compelling. Good luck to lts and newbies though. spud
1001011: I imagine that if Tom Burnet would have timed his exit announcement better to coincide with this COO announcement instead of when results were outstanding, the share price reaction would have been less extreme.
bluepeter1: Why did Accesso’s share price halve in Feb- it never look justified at the time and certainly not afew months down the line with more information?
smithie6: !! is there a strong link between ACSO share price & any statement by the FED --- I think the fall from 30quid was triggered/created by ppl digesting the H1 results... ..including TW & his contacts...even if he didnt publish till I think Nov. & being at a sky high rating....a bubble....which was waiting to implode with slightest negative news
smithie6: Tom Burnet's share sales is it mostly 2 sales 4m squid generated each time 2016 and 2018 8 million quid total and still got 200k shares and 200k options (but look to be unexercisable for a good number of years, unless the share price climbs back up a lot over coming years, since perf. condition is the sp) while the shareholders that bought the shares he sold in 2016 have made a 5% loss (and rxd no divi at all) and the ones that bought his shares at 22 quid in late 2018 are sitting on a loss of 13 pounds per share. 13 pnds a share !! while he has bagged 8M quid !! absolutely nuts ! and the instis happily voted agreement to it all. Well, serves them damn right then to have subscribed for 76M$ of new shares in 2018 at 15 quid and to see that now valued at 9 quid per share. (having share price as a performance condition for exercising options needs to be made illegal by the UK Govt..... ...but it is the no chance of that happening any time soon !!)
smithie6: result of some number crunching (uf !!) 2014 situation thru to 2017 situation nett 48M$ cash gone out of the co. to pay for acquisitions which looks to have been generated from generation of REAL CASH generated from turnover and not from just issuing new shares (note that this was not calculated to be an accurate value....but just to see if the co. was generating real cash over 2014-2017 accounts or just issuing new shares or just increasing borrowings or payables) which is good this is after cancelling out deltas in change in situation between 2014 and 2017 in key items like (payables - receivables), (cash - borrowings) and taking into account cash inflow via shares placed for cash for ACSO's use (Ive ignored the 6M delta in deferred tax to avoid looking in to it) number of shares increasing from 22M to 27M intangibles increasing by 120M$....which mostly comes from the cashflow out and new shares issued...for acquisitions.. ---- ( I think that the amount of capitalisation has been manipulated to suit the company accounts... and I think that that might well be ending in the 2018 accounts.....with exec. chair stepping aside.... and the share price collapse...and mention of new perf. data/info to be revealed amount of amortisation is rocketting since intang. assets have rocketted due to 2 acquisition sin 2017 ..a key item of valuing the shares will be down to how much does one value the IT/tech products being used in fixed contracts at various customers/parks....and how long one thinks those products will last...and whether the amortisation of those products in the accounts under or over estimates the real world....and the capitalisation factor, uf...(since all IT/tech only has a limited lifetime and those contracts also only have limited life....but phps have a high chance of renewal) ----- the possible hiccup for ACSO phps comes from TE2 which produces a big drop in revenue due to introduction of IFRS15 accounting....and that it was loss while it cost a lot of money (mostly via new shares at around 16 quid I think) it produces a drop in revenue in 2018 H1 and annual accounts...and doesnt help much the numbers for EBITDA or cash generation --- THe aquisitions made were done at full or high prices...~ 4 x turnover for Ingresso (2017) & 80M$ for x8 turnover for (!!) TE2 (2017) despite it producing 10M$ underlying revenue in 2016 ___EBITDA -3M$ ...Vision 1 (2014) at 4x turnover.....which doesnt leave much room for hiccups...or reduction in profits due to any pressure on margins or for competitive pressures. (although TE2 was was producing massive growth...and it had Carnival as a I assume that the implementations on cruise ships is due to TE2 it seems to be producing the goods. And perhaps useful to take out a risk of possible future competitor or useful acquisition for a competitor if Acso didnt buy it)...and since working for clients like Merlin one assumes/guesses that the products can be fairly easily integrated in ACSO products.... The acquisitions look to be lowish cash generators vs their acquisn prices.....TE2 had EBITDA of -3M$ for 2016 (perhaps Acso over reached by making 2 acquisitions in 1 year...perhaps over confidence due to the then.. sky high share price) --- As I have mentioned before....imo the co. has had a cash/debt 'situation' imo in H1...due to 25M$ cashoutflow due to reducing payables and due to paying a stage payment for Ingresso ( 7M pnds ?) and with this happening in the half of the year that doesnt generate much cash versus the stronger H2 when there is more income from USA parks (noting a high % of turnover is in USA) and has had to try to trim its feathers/ mentioned in co. info/RNSs. ----- 30 quid share price....over rated the turnover from Merlin parks imo which was reported gross and is now reported nett...producing a step redn in that turnover.
smithie6: btw many interesting or unbelievable items in accounts ------ 2017 accounts Tom Burnet page 4 "....we are excited about the new markets." "I am excited by where we are as an organisation ..and I see enormous growth opportunities in our future" and the share price rises and he sells half his holding at 22 quid !! ...and then soonish afterwards he then steps down from his exec. role !! so excited he steps down !! ...wharghhhh ! and an exec. stepped down in 2018 I think ( the options scheme was and is completely screwed up wildly excessive rewards exercise at 0p !! clearly encourages execs. to get to know the co.....then sell their options become millionaires and give up their exec. role !! NUTS ---- page 8 "...adj. op. margin was 14.3% , the board maintains its view that there is potential for future improvement in this metric as the group benefits from the step down in investment across the business..." and reducing the very high R & D spend would/should produce a big bump increase to the generation of real cash and PBT but at the same time the exec. chairman has stepped aside... and the share price has gone from 30 quid to now 9. !!!!!! clearly the mkt has not liked the news/info provided to it in recent months... --- Auditor got paid 846k$ in 2017 OUCH !! with such a big and important client for the auditor....would an auditor risk giving the company a hard time ? and questioning the high amounts of capitalisation ....unlikely... and phps that has played a part in the excessive rise imo to 30 quid...and subsequent collapse... --- 846k$...0.75% of turnover in 2017 ...and if repeated would be 1% of the lower (due to IFRS15 2018 turnover.) ridiculous imo
smithie6: vaulation comparison of 2 shares HAT vs ACSO Hat has almost full asset backing of the share price (a lot being cash out on loan to private people at highist % one could argue there is a risk X that some of the cash wont come back) ACSO has negative tangible assets ---- HAT has paid out divis over last 10 years of about 1/3 of its share price ACSO has never paid a divi !! --- HAT has a history of making sizeable profits vs its current sp and has stated it will make a profit greater than 10% of its current share price !! ACSO looks set to report that it has consumed cash in current financial year if include the 1.7M$ cost of failed acquisition (1.7M !!) ---- growth numbers in H1 ACSO claims lfl growth of 11% while HAT claims bigger growth imo --- ACSO is currently valued at 2.5-3x turnover. priced for growth and sizeable profit margin....but the profit is close to zero HAT is valued at a P/E of 8-10. cheap --- DIVI Hat pays 3% and history of increasing ACSO has never paid a divi !! --- will I be selling any of my HAT shares to buy ACSO shares ?... no
rivaldo: On a PEG of only around 1 the current share price is now pretty good value. Perhaps our friends forget that the driver behind much of the recent investment derives from the development and implementation of ACSO's products across Merlin's entire global estate, which is still continuing and will really bring in the big rewards from next year with a consequent jump in profits and EPS. Then there's the potential rollout across Princess Cruises and perhaps the whole of Carnival too. With the additional potential from a rollout across the Universal Studios theme park estate given the first implementation at Volcano Bay. As supernumerary points out, customer concentration has improved immeasurably since most of us were first invested here! The new CEO, as the former head of IAAPA, has brought further heavyweight presence to the party. Presumably he has joined ACSO with high confidence in the company and its prospects since he would have known ACSO intimately from his time at IAAPA. Share prices look forward, not back. It seems to me that ACSO's prospects are more positive than ever above and beyond the ups and downs of quarterly theme park attendance figures etc.
runthejoules: SHARES magazine (I recommend subscribing) Act now! Market sell-off offers superb chance to buy Accesso for a discount [I am ahead of the game! I mean 6% down] Buck the risk-off markets theme with this outstanding growth story Great Ideas Issue: 11 Oct 2018 - Page 10 Since positive half year results in September Accesso Technology’s (ACSO:AIM) share price has plunged more than 20%. This is potentially great for new investors because it means you can now buy the same business and growth opportunity for 20%-plus cheaper than you could last month. The obvious question to ponder is whether the sell-off implies something uglier to come? Our own digging suggests not. We attribute the share price performance to nothing more than a global markets sell-off as the market mood changes. Our view is long-term and these sell-offs can be good times to pick up decent stocks. Accesso isn’t alone in terms of recent share price declines for popular AIM Stocks. For example, Fevertree (FEVR:AIM), Blue Prism (PRSM:AIM) and GB Group (GBG:AIM) have all taken a hit in recent weeks. Accesso is an attractions and queuing solutions supplier. Over the years it has created an integrated platform for everything from buying tickets, queue-busting, merchandise purchasing and more. Clients include Alton Towers operator Merlin (MERL) and Six Flags and it has emerging opportunities across Latin America, the Middle and Far East, including China. Multiple vertical markets are also being explored, such as sporting events, music concerts, ski resorts, museums and theatres. We believe Accesso has scope to expand in many ways. There are thousands of theme and water parks, tourist attractions and other high footfall visitor sites around the world that could potentially benefit from the company’s integrated visitor ‘experience217; solutions. There is also an extra growth leg emerging in health via a development agreement with Henry Ford Health System. Accesso is a business that has been ticking growth investors’ boxes for years. Since 2012 it has seen revenue soar from $46m to $133.4m, including last year’s (2017) 30% jump, and has an equally impressive record on profits. It has been free cash flow positive in every one of those years. Future revenues will be impacted by new accounting rules, which change both how and when income is recognised. This does not change the underlying growth dynamics of the business and it will make little difference to profit and earnings going forward, which implies better margins. Analysts expect operating profit of around $42m in 2020. It is forecast to report $25m or $26m this year, implying a 2018 price to earnings (PE) multiple of about 40. That’s high, yet if forecasts are to be believed, the forward PE could be slashed rapidly to about 22-times over the next 12 to 15 months. (SF)
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