23rd Mar 2016 09:44
LONDON (Alliance News) - Quixant PLC said pretax profit grew in 2015 and it hiked its dividend, though a jump in revenue was offset by higher costs.
Quixant, which makes platforms and monitors for gaming and slot machines, said its pretax profit for the year to the end of December was GBP7.8 million, up 9.8% from GBP7.1 million a year earlier, as revenue grew 31% to GBP41.8 million from GBP31.9 million.
Revenue grew across Quixant's operations in the year, and the group reduced the concentration of its customer base and increased market share for its core computing platforms. The group also completed the acquisition of Denistron Technologies, the display electronics and software company, which it anticipates will drive higher revenue in 2016.
Quixant will pay a dividend for 2015 of 1.5 pence per share, up 25% on the 1.2p payout a year earlier.
"We have had a strong start to 2016 in both our core business and also gaming monitors and with the potential opportunities Densitron provides in other markets, I am confident the group is well placed to deliver strong growth in 2016 and beyond," said Chief Executive Nick Jarmany.
Quixant shares were up 6.1% to 200.0p Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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