Quixant PLC Trading Update (1416I)
10 Diciembre 2020 - 1:00AM
UK Regulatory
TIDMQXT
RNS Number : 1416I
Quixant PLC
10 December 2020
10 December 2020
Quixant plc
("Quixant" or "the Group")
Second Half Profitable Trading Exceeds Expectations
Quixant (AIM: QXT), a leading provider of innovative, highly
engineered technology products principally for the global gaming
and broadcast industries, provides the following update on trading
for the current financial year, ending 31 December 2020.
The Board is pleased to report that since the release of the
Group's interim results on 30 September 2020, trading in its core
gaming market has exceeded expectations. As a result, the Group now
expects to report full year adjusted profit before tax of at least
$1m on revenue of at least $61m.
Jon Jayal, CEO of Quixant, commented:
"Given the magnitude of the impact of Covid-19 on the global
gaming industry, I am delighted that trading has recovered to the
extent that we will be able to more than offset the loss in the
first half and report a profit for the year. Our business has been
supported by the resiliency of Densitron through the pandemic,
enabling us to also maintain a strong net cash position.
"While the macro-economic environment remains uncertain, there
are encouraging signs our customers are preparing for improving
conditions during 2021. With strict financial discipline, a strong
balance sheet and close relationships with our customers, I believe
we are well-placed to drive long-term, profitable growth."
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
For further information please contact:
Quixant plc Tel: +44 (0)1223 892
696
Jon Jayal, Chief Executive Officer
Andrew Jarvis, Interim Chief Financial
Officer
Nominated Adviser and Broker:
finnCap Ltd Tel: +44(0)20 7220
0500
Matt Goode / Simon Hicks (Corporate
Finance)
Alice Lane (ECM)
Financial PR: Tel: +44 (0)20 3405
0205
Alma PR
John Coles / David Ison / Kieran
Breheny
About Quixant
Quixant, founded in 2005, designs and manufactures highly
optimised computing solutions and monitors principally for the
global gaming and broadcast industries. The Company is
headquartered in Cambridge in the UK where the global sales
function is based. North America sales and sales support is run
from their subsidiary in Las Vegas. Quixant has its own
manufacturing and engineering operation based in Taiwan and
software engineering and customer support team based in Italy. All
the specialised products software and manufacturing are produced
in-house and Quixant owns all its own IP some of which is protected
by patents and design rights.
In November 2015 Quixant acquired Densitron Technologies plc.
Densitron has a strong heritage in the sale of electronic display
solutions to global industrial markets. Through Densitron's
experienced sales team, Quixant has a robust platform to build its
business into wider industrial markets. In-depth information on the
Company's products, markets, activities and history can be found on
the corporate website at www.quixant.com .
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END
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