by Anthony O’Goryinoff
Quixent Plc said on Thursday it expects 2021 revenue and adjusted pretax profit to be ahead of market expectations, despite continued pressure on margins from price inflation and electronic-component shortages.
The AIM-listed technology provider for the gaming industry said it expects to report revenue for the year of $87.1 million. The current revenue consensus is $79.0 million, with forecasts in the range of $78.0 million to $80.0 million. The company reported revenue of $63.8 million for 2020.
The forecast for adjusted pretax profit — a key metric that separates exceptional and other one-time items — stood at $4.9 million.
The company said it entered 2022 with a strong order book and provided good visibility into both its gaming and Densitron divisions.
“A strong return to demand and a broad product offering in the gaming business, coupled with our strategic positioning of Densitron, gives us confidence in the group’s short- and long-term growth opportunity,” said Chief Executive John Jayal.
Shares were up 5.50 pence, or 3.2%, at 177 pence at 0917 GMT.
Anthony O. Write to Goriainoff at [email protected]