13th Oct 2022 12:30
Quixant PLC - Cambridge-based technology products provider for gaming and broadcast industries - Says both its Gaming and Densitron divisions have continued to perform strongly since it published its interim results on September 6. Now expects to report full year results ahead of market expectations, with revenue of over USD115 million and adjusted pretax profit of at least USD10 million. The current consensus analyst forecasts for 2022 prior to this announcement is USD109.5 million of revenue and USD8.8 million of adjusted pretax profit.
In 2021, Quixant swung to a pretax profit of GBP4.9 million from a loss of GBP2.0 million in 2020. It also recorded revenue of GBP87.1 million and declared a full-year dividend of 2.4 pence.
"This has been driven by ongoing buoyant customer demand, continued recovery in gross margins and ongoing management of supply risk. The strategy we have in place across the Group is delivering, as we launch new products, diversify revenue, and become more closely integrated within our customers' value-chain," says Chief Executive Jon Jayal.
Current stock price: 175.00 pence, up 7.0%
12-month change: down 5.4%
By Sophie Rose; [email protected]
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