5 May 2022 07:00
The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.
5 May 2022
Quixant plc
("Quixant" or the "Group")
AGM statement
The Annual General Meeting ("AGM") of Quixant (AIM:QXT), a leading provider of innovative, highly engineered technology products principally for the global gaming and broadcast industries, will be held today at 11:00am at the Group's offices at The Galleria, Station Road, Crawley, RH10 1WW.
At the AGM, Quixant Chair, Francis Small, will make the following statement on current trading:
"The strong demand for our specialist technology outsource solutions in both Gaming and Densitron divisions has continued through the first four months of the year and year-to-date order intake has been significantly ahead of the same period in 2021 across both businesses.
As previously communicated, we took the decision to invest in stock to best manage the well documented supply chain issues which continue to impact the global technology sector, with the recent lockdowns in China potentially contributing to these pressures. However, given our strong relationships with suppliers, we continue to successfully manage the challenges and meet customer demand. Year to date revenues are well ahead of the same period in 2021 across both divisions despite what remains a challenging global supply chain environment.
As we communicated in our 2021 full year results announcement, we are investing to manage future growth and mitigate supply chain issues, which in the near term requires utilising our strong cash position to invest in inventory.
The healthy trading year to date and order intake give us confidence that we will achieve full year market expectations for both revenue and profit.
We believe the business is in a strong position to deliver long-term sustainable growth through its portfolio of specialist outsource technology solutions."
Quixant plc Jon Jayal, Chief Executive Officer Johan Olivier, Chief Financial Officer
| Tel: +44 (0)1223 892 696 |
Nominated Adviser and Broker: finnCap Ltd Matt Goode / Simon Hicks (Corporate Finance) Alice Lane / Charlotte Sutcliffe (ECM)
| Tel: +44 (0) 20 7220 0500 |
Joint Broker: Canaccord Genuity Limited Simon Bridges / Andrew Potts
| Tel: +44 (0) 20 7523 8000 |
Financial PR: Alma PR John Coles / Hilary Buchanan / Kieran Breheny | Tel: +44 (0)20 3405 0205 |
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, with offices throughout Europe, North America and Asia. Quixant has its own manufacturing and engineering operation based in Taiwan and software engineering and customer support teams based in Italy and Slovenia. 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.quixantplc.com.