Quixant on the up as profit, revenue to be ahead of expectations

Quixant shares rose as the provider of technology products said full-year profit and revenue are likely to be higher than initially expected.

The AIM-listed company expects revenue for the year to be no less than $86m and for profit to be ahead of market expectations.

It expects the earnings before interest, tax, depreciation and amortisation (EBITDA) margin for the second half of the year to be higher than previously anticipated, and “significantly” higher than the margin in the first half of 2016.

This was due to increased demand for the company's computer platforms from gaming customers.

The group said progress had accelerated in the second half of the year, particularly in the gaming division, which showed “strong” year-on- year revenue growth.

Chief executive Nick Jarmany said there was also a “very satisfactory performance” from Densitron, a supplier of electronic displays, which the company bought in December 2015.

Shares in Quixant were up 13.97% to 330.50p at 1229 GMT.