Access Intelligence predicts revenue below expectations

SOFTWARE company Access Intelligence said today it expects to post revenue of around £8.4m for the current financial year representing growth of 5% compared to the prior year but which is lower than current market expectations.

The lower revenue, principally the result of weaker trading in one of the group’s divisions, is expected to result in the EBITDA for the year being lower than market expectations but ahead of the previous year, the company said in a trading statement relating to its results for the year to November 30.

“Despite the significant investment in the York Development Centre on product innovation that is expected to drive growth for 2014 and beyond, cash flows remain robust with the year-end cash expected to be around £1.2m,” the company said.

The York-based firm expects to announce its results for the year ended November 30 in March.