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Shares in Accesso Technology Group (LON:ASCO) dropped 11.53% to 752p (as of 13:50 GMT) as the AIM-listed ticketing firm’s profits before tax for the year ended 31st December fell by 27.77% on the back of increased investment spending. Revenues for the period were up by 15.5% and gross profits rose by 20.2% over the course of the year.
CEO Paul Noland said: “2018 has been another year of global expansion at Accesso. Our progress continues to be driven by the variety of solutions we have to offer and our relentless focus on delivering excellent service and support.
We continue to integrate the 2017 acquisitions of TE2 and Ingresso, along with identifying and executing opportunities for integration across the Group’s entire portfolio of solutions. As hoped, we saw increased demand for multiple applications at individual sites and have made positive strides in that direction.
Our customers are asking us to bring even more flexibility, integration and scalability to the products and services we offer. As such, and in order to accelerate future growth, we will invest where necessary to maintain our market leadership and to ensure we capitalise on customer demand for our products, as either an integrated or as an individual solution“.