Quixant PLC Trading Update (0036Q)
November 24 2016 - 1:01AM
UK Regulatory
TIDMQXT
RNS Number : 0036Q
Quixant PLC
24 November 2016
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
Jon Jayal, Chief Operating
Officer
Nominated Adviser and Broker:
finnCap Tel: +44(0)20
7220 0500
Matt Goode / Grant Bergman
/ Simon Hicks (Corporate
Finance)
Simon Johnson /Alice Lane
(Corporate Broking)
Financial PR: Tel: +44(0)20
8004 4218
Alma PR
John Coles
Hilary Buchanan
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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