Information  X 
Enter a valid email address

Quixant warns on profits as gambling unit revenue disappoints

By BFN News | 08:16 AM | Wednesday 29 January, 2020

Technology provider to the gambling and broadcast industries Quixant warned on profits after it missed revenue expectations. Adjusted pre-tax profit for the year through December was seen at $10.7m on revenue of $10.7m. 'The majority of the shortfall against expected revenue has been experienced in the gaming division which has had a consequential impact on profit,' the company said. Chief executive Jon Jayal said that although Quixant was confident of achieving healthy growth in 2020, recent softness had led to it having a more conservative view on the level of growth. Quixant was reviewing costs in line with those lower revenue expectations, he added. 'We have initial orders for significant new business which we believe will contribute to sustained growth into 2021,' Jayal said. At 8:16am: (LON:QXT) Quixant share price was -46p at 159p Story provided by

a d v e r t i s e m e n t