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24 Nov 2016 07:00
24 November 2016
Quixant plc
("Quixant" or the "Group")
Trading Update
Quixant (AIM: QXT), a leading provider of innovative, highly engineered technology products principally to the global gaming industry, is pleased to provide the following update on current trading ahead of the year ending 31 December 2016.
The Group's progress has accelerated in the second half of the year with the Gaming Division in particular showing strong year on year revenue growth. Increased demand for Quixant's computer platforms for the gaming industry was evident from several customers. As a result the Board now expects EBITDA margins in H2 to be higher than previously anticipated, and significantly higher than the EBITDA margins achieved in H1.
The Board now anticipates that total revenue for the year will be not less than $86m and profit will be ahead of market expectations.
Nick Jarmany, CEO of Quixant commented: "We have had a very strong second half to the year with demand for our computer platforms building through the period. Couple this with a very satisfactory performance from Densitron, who we acquired at the end of last year, and we are very pleased with the overall performance of the Group."
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please contact:
Quixant plc | Tel: +44 (0)1223 892 696 | |
Nick Jarmany, Chief Executive |
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Jon Jayal, Chief Operating Officer |
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Nominated Adviser and Broker: |
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finnCap | Tel: +44(0)20 7220 0500 | |
Matt Goode / Grant Bergman / Simon Hicks (Corporate Finance) |
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Simon Johnson /Alice Lane (Corporate Broking) |
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Financial PR: | Tel: +44(0)20 8004 4218 | |
Alma PR |
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John Coles |
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Hilary Buchanan |
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About Quixant
Quixant, founded in 2005, designs and manufactures highly optimised computing solutions and monitors principally to the global gaming industry. 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 much of which is copyright protected.
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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