York IT firm warns of poor performance

ACCESS Intelligence, the York-based software and computer services group, has warned that its performance will fall short of market expectations thanks to a slower than expected take up of its latest compliance product.

Access, which is made up of subsidiaries in York, Stockport, Manchester, Chorley, Lancashire and Newcastle upon Tyne, said that a poor year for its online compliance product MS2M and a disappointing first half storage sales at Willow Starcom had resulted in a major impact on the year as a whole.

However, the board sounded optimism following a better second half performance from Willow and continuing progress by another of its divisions Due North, which provides e-sourcing software. It added that it also has year end cash in excess of £800,000.

The group's income strategy is to build repeating revenues delivered through recurring contracts ranging between one and five years. It has two divisions – compliance software and services.

Since its flotation on AIM in November 2003, the group has made three acquisitions.