Quixant Sees 2021 Revenue, Adjusted Pretax Profit, Ahead of Views

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by Anthony O’Goryinoff

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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.

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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]

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