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10 Dec 2018 | 08:01

Access Intelligence says performance in line with expectations

Access Intelligence said Monday performance for the year to end November had been in line with market expectations.

For the year to 30 November 2018, total revenue was expected to come in at about £8.9m, up from £8.1m a year earlier.

With the acquisition of ResponseSource in November 2018, the company had further enhance its product range and broaden its offering, benefiting its high quality and blue-chip customer base.

The group had a 'very promising' new business pipeline and Vuelio had continued to consolidate its strong position in the public sector, with a client base that includes almost half the UK's local councils and universities and over 85% of the UK's police authorities, the company said.

Underlying revenue, which excludes ResponseSource revenue, was expected to be in the region of £8.7m, in line with market expectations. Adjusted earnings (EBITDA) was in line with market expectations, with group cash 'slightly ahead' of market expectations, the company said. 'We are very proud of what the Vuelio team has achieved during 2018. The acquisition of ResponseSource represents a key step in our journey and the early indications are extremely promising,' said Access Intelligence CEO, Joanna Arnold. 'Both teams are working well together, and it is of great credit to both businesses that we have achieved a high level of integration in a short period. In particular, the acquisition has further enhanced our product-development capabilities at a time when the introduction of new processes had already accelerated our ability to deliver both new solutions and improvements to existing services. In short, there is every reason to be optimistic for the future.'

At 8:01am: (LON:ACC) Access Intelligence PLC share price was +2.5p at 60.5p

Story provided by StockMarketWire.com
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