Accesso Technology Group (LON: ACSO) reported its Full Year 2023 results, showing key financial metrics. The company’s revenue increased by 7.0% to US$149.5 million compared to FY 2022. However, net income decreased by 24% to US$7.69 million, resulting in a profit margin of 5.1%, down from 7.2% in FY 2022. Earnings per share (EPS) also declined to US$0.19 from US$0.24 in FY 2022.
Revenue exceeded analyst estimates by 1.4%, and EPS surpassed estimates by 78%. The Ticketing segment was the main driver of revenue, contributing US$104.0 million, accounting for 70% of total revenue. General & Administrative costs were the largest operating expense, totaling US$94.5 million, making up 86% of total expenses.
Looking ahead, accesso Technology Group is forecasted to experience an average annual revenue growth of 7.2% over the next three years, compared to a 10% growth forecast for the Software industry in the United Kingdom.
The British Software industry has shown positive performance, with the company’s shares increasing by 6.0% from a week ago. However, there are also 2 warning signs that investors should consider.
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