16th Sep 2015 09:27
LONDON (Alliance News) - Quixant PLC, which provides computing platforms for casino gaming and slot machine applications, on Wednesday reported higher first-half pretax profit, as revenue rose but its costs fell.
Pretax profit rose to USD2.6 million in the six months to June 30 from USD2.2 million in the corresponding half the prior year, as revenue increased to USD13.6 million from USD12.3 million and operating expenses fell to USD3.4 million from USD3.5 million.
"We have again delivered strong growth over the first six months of the year in line with management expectations and enter the second half of the year with a healthy order book, keeping us on track for the full year. We are pleased with our continued progress in expanding the breadth and depth of our customer relationships," Chief Executive Nick Jarmany said in a statement.
"We now have greater clarity on the impact of last year's M&A activity among the larger manufacturers has had on our markets. With their focus on cost efficiencies, we believe that in the long term this will be of considerable benefit to Quixant," Jarmany said.
Shares in Quixant were down 6.9% at 135.98 pence on Wednesday morning.
By Samuel Agini; [email protected]; @samuelagini
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