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Quixant profit halves; warns on outlook as customer orders slide

By BFN News | 02:16 PM | Tuesday 17 September, 2019

Technology supplier to the gambling and broadcasting industries Quixant said its first-half profit more than halved, while downgrading its expectations for the full year. Pre-tax profit for the six months through June fell to $3.0m, down from $6.1m on-year. Revenue fell 17% to $41.9m amid a greater-than-expected slowdown in gambling customer orders, particularly in the Australian market. 'Quixant's revenue has historically been second half-weighted and as previously announced, management expect this trend to be reflected in full year 2019 results,' the company said. However, it added that information from some customers regarding order levels for the remainder of 2019 indicated that revenue, while still to be second-half weighted, would also be below previous expectations. That would result in a reduction in full year profits to between $12.0m and $13.0m, the company said. At 2:16pm: (LON:QXT) Quixant share price was -139.5p at 163.5p Story provided by

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