Ticketing technology provider accesso Technology (LON: ACSO) has upgraded its 2022 expectations and revenues should be at least $138m, up from $124.8m in 2021. The share price jumped 10.8% to 742p on the news. That is the highest the share price has been since May.
Peel Hunt previously forecast 2022 revenues of $134.5m for AIM-quoted accesso Technology. There was strong trading during October and overall profitability has improved. That is because the growth is coming from higher margin products.
The cash EBITDA margin will be more than 17% in 2022. That is much higher than the 14.3% EBITDA margin previously forecast by Peel Hunt, which it admitted at the time of the interims was conservative. This suggests that EBITDA could be more than $23.5m, which is still down on the 2021 figure of $28.1m, and pre-tax profit could be more than $17m depending on interest charges.