Accesso Technology’s 2022 Pretax Profit Rose as Demand Returned

By Christian Moess Laursen

Accesso Technology Group PLC said Tuesday that pretax profit rose in 2022, as demand returned to prepandemic levels, despite administrative costs rising 14%.
The company, which provides technology for attractions and venues, said its pretax profit rose slightly to $12.4 million in 2022 from $12.1 million in 2021.

Revenue came in at $139.7 million, up from $124.8 million a year prior, as demand returned to prepandemic levels in key markets, and was driven by a combination of new business volume and product utilization across its product set, the company said.
Administrative costs rose 14% to $79.6 million, mainly due to an increase in headcount to 568 from 513 as hiring conditions improved and wages increased in a response to inflationary pressure.
“With the strength of our balance sheet and solid operational model, we are prepared for the next step in our growth trajectory. We look forward to continuing our progress and delivering another strong year of profitable growth in 2023 and the years beyond,” Chief Executive Steve Brown said.
Accesso said it maintains its view that a dividend payment is unlikely in the short to medium term, as the company opts to invest in strategic product development or acquisitions instead.
Write to Christian Moess Laursen at christian.moess@wsj.com