Access Intelligence plc (AIM: ACC), a leading supplier of Software-as-a-Service (SaaS) solutions for communications and reputation management, is pleased to announce that after the busiest year in the Company's history, trading for the year to end November has been in line with market expectations.
Over the past year, Access Intelligence has firmly established Vuelio as a market leading brand providing an integrated digital platform for the communications industry. With the acquisition of ResponseSource Ltd ("ResponseSource") in November 2018, it has been able to further enhance its product range and broaden its offering, to the benefit of its high quality and blue-chip customer base.
This unified offering has been well-received by the market, with recent contract wins including Porsche, Fiat Chrysler Automobiles, Médecins Sans Frontières, Help for Heroes, Investec, Philips, Kings College London, Air France KLM, Emirates Group, DB Cargo and DFDS Seaways. The Group has a very promising new business pipeline and Vuelio has 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 per cent. of the UK's police authorities.
For the year to 30 November 2018, the business saw organic growth in net Annual Contract Value (ACV) of £0.6m. With the addition of £3.2 million in ACV through the ResponseSource acquisition, the Group's total ACV at 30 November 2018 was approximately £12.4 million, compared to £8.6 million at 30 November 2017.
The Directors expect that total revenue from continuing operations for the financial year will be in the order of £8.9 million, compared to £8.1 million for the prior year. Underlying revenue, i.e. excluding ResponseSource revenue, is expected to be in the region of £8.7 million, in line with market expectations. Adjusted EBITDA was in line with market expectations, with Group cash being slightly ahead of market expectations at 30 November 2018.
Integration of the ResponseSource product and teams is already underway, with new additions from a combined product-development function expected in the first quarter of 2019. These enhancements include new and fully integrated political services and online newsrooms, in addition to a wide-ranging overhaul of the platform's design.
Access Intelligence CEO, Joanna Arnold, commented "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. 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."