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Quixant revenue up by a fifth

By BFN News | 09:01 AM | Thursday 25 January, 2018

Quixant, a provider of technology products to the gaming industry, expects to report revenue of approximately $109m for 2017, an increase of 20%. It also expects to report adjusted profit before tax in line with market expectations, despite a $1.6m write off in relation to a loss resulting from the substitution of a component incorporated into several products. Net cash at 31 December 2017 was approximately $4.2m. Jon Jayal, COO of Quixant, stated: "This has been another very good year of growth for the business, with a particularly strong performance in our core gaming platforms and gaming monitors. Densitron has also performed well as we continue to rationalise its product range to focus on higher margin business. "I suggested in our interim results the full year was likely to be first half weighted and this has proved to be the case. Despite historically being second half weighted, as the group continues to grow the customer book and broaden the product range we are moving towards a more balanced weighting split. "During the year we have invested in the business with a number of senior management appointments and a circa 20% increase in the total number of employees. As a result, we are well positioned to continue to grow the group over the long term." At 9:01am: (LON:QXT) Quixant share price was -25p at 410p Story provided by

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