23 Jul 2019 07:00
The information communicated in this announcement contains inside information for the purposes of Article 7 of Regulation 596/2014.
23 July 2019
Quixant plc("Quixant" or the "Company")
Trading Update and Notice of Results
Quixant (AIM: QXT), a leading provider of innovative, highly engineered technology products principally for the global gaming industry, is pleased to provide an update on trading for the six months ended 30 June 2019.
Revenue and profit before tax are in line with management expectations for the first half and the guidance given in March. A growing order book during H1 positions us well to deliver a strong second half to the year. Gross margin in the first half remained robust.
Jon Jayal, Quixant CEO, said:
"H1 2019 was completed as we expected and reported in March, with the lower than anticipated consumption of some major customers improving as we enter the second half. As a result, full year results will be a little more second half weighted than in previous years, as previously guided. We have continued to convert new business opportunities to orders which positions us well for long term growth."
The Company's interim results for the six months ended 30 June 2019 are expected to be announced on 24 September 2019.
For further information please contact:
Quixant plc | Tel: +44 (0) 1223 892696 |
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Jon Jayal (Chief Executive Officer)Guy Millward (Chief Financial Officer) |
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Nominated Adviser and Broker: |
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finnCap Ltd | Tel: +44 (0) 20 7220 0500 | |
Matt Goode / Simon Hicks (Corporate Finance)Alice Lane (Corporate Broking) |
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Financial PR: | Tel: +44 (0) 20 3405 0205 | |
Alma PR |
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John Coles |
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Hilary Buchanan |
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Susie Hudson |
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About Quixant
Quixant, founded in 2005, designs and manufactures highly optimised computing solutions and monitors principally for 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.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.