Accesso Technology Group (LON:ACSO) has released its full year 2023 financial results, showing a decline in net income but an increase in revenue. The company’s revenue grew by 7.0% to US$149.5m, exceeding analyst estimates by 1.4%. However, the net income decreased by 24% to US$7.69m, resulting in a lower profit margin of 5.1%, down from 7.2% in the previous year, and a drop in earnings per share (EPS) from US$0.24 to US$0.19.
The Ticketing segment accounted for a significant portion of the company’s revenue, contributing US$104.0m, while General & Administrative costs were the largest operating expense, totaling US$94.5m. Looking ahead, accesso Technology Group is forecasted to experience 7.2% average annual revenue growth over the next three years compared to a higher growth forecast of 10% for the Software industry in the United Kingdom. The company’s shares have seen a slight increase of 6% in value over the past week.
While there are positive aspects to accesso Technology Group’s performance, it’s important for investors to be aware of two warning signs that may impact their investment decisions moving forward.
It’s crucial to remember that Simply Wall St provides financial data and analysis based on historical information and analyst forecasts and should not be considered as financial advice.
Investors should take note that while accesso Technology Group has reported an increase in revenue and EPS exceeding analyst expectations, they should also consider other factors such as market trends and competition before making any investment decisions.
Overall, while there are positive aspects to accesso Technology Group’s performance, investors should approach their investments with caution and consider conducting further research before making any decisions.
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