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Interim Results

Access Intelligence revenues rise

24 August 2015 09:42

Access Intelligence's revenues from continuing operations increased to £3.3m in the six months to the end of May - up from a restated £3.1m last time.

The group said this reflected a strong performance from Access Intelligence Media & Communications with revenues of £1.4m (H1 2014: £1.1m).

Contracted revenue not yet invoiced from continuing operations rose by 12% to £6.4m; (H1 2014 restated: £5.7m).

The sale of Willow Starcom Limited, formerly a wholly owned subsidiary of Access Intelligence, was completed on 21 April. Deferred revenue (excluding Willow Starcom Limited) was consistent with prior year at £2.5m (H1 2014 restated: £2.6m); taking total revenue yet to be recognised in the income statement to £8.9m (H1 2014 restated: £8.3m).

Recurring revenue from continuing operations rose to £2.8m up 11% (H1 2014 restated: £2.6m), being 85% (H1 2014 restated: 83%) of total revenue from continuing operations. Total technical spend was 42% of revenue (H1 2014: 50%).

The group reports a loss before taxation from continuing operations of £252,000 (H1 2014 restated: loss £158,000).

Non-executive chairman Michael Jackson said: "Access Intelligence has had a good first half, with strong performance at AIMediaComms being driven by a number of key blue chip wins in the private sector. The Group also completed its exceptional phase of investment in product innovation at the end of H1 2015.

"The AITrackRecord and Due North products were released to the market with significant interest, validated by new prospect wins and existing customer migrations. Our Centre of Excellence in York has proven pivotal to the creation of a scalable platform to expand our reputation and position in the GRC marketplace."

At 9:42am: (LON:ACC) Access Intelligence PLC share price was 0p at 4.5p

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