Quixant PLC Trading Update (0036Q)

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: [phone] 
                                            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

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November 24, 2016 02:01 ET (07:01 GMT)