15th Sep 2014 08:20
LONDON (Alliance News) - Quixant PLC Monday said it was on target to achieve its full-year expectations, as it saw profit rise in the half-year to the end of June on new contract wins.
Quixant provides computing platforms for casino gaming and slot machines.
The company posted a pretax profit of USD2.2 million, up from USD1.8 million in the previous year, as revenue rose to USD12.3 million from USD9.5 million.
During the period the company won business with Novomatic Group, which it said underpins its current growth expectations for 2015. On the back of this, the company also secured another customer for a design-in on a project, and in February won a contract to supply Ainsworth Game Technology Ltd with a new series of gaming platforms.
Quixant said that during the half-year it had invested in its business to support contracts with new customers, upping headcount to 69 people from 63 at the end of the previous year. Additionally, the company completed its move to its new US facilities in May, which it said increases office space and facilities for its new North American customers.
The company launched a new product, QXi-307, in the first-half, and said it had already seen high interest in the software.
Quixant noted a trend of consolidation in the gaming industry, which it believes will be a boon for its business and manufacturers review their strategy and seek out cost savings.
The company said its strong order book and pipeline of business gave it confidence leading into 2015 and beyond.
Shares in Quixant were trading up 2.5% at 144.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
QXT.L