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Quixant's Denistron performs ahead of expectations amid lockdown

By Iain Gilbert

Date: Tuesday 19 May 2020

Quixant's Denistron performs ahead of expectations amid lockdown

(Sharecast News) - Gaming technology firm Quixant said on Tuesday that its Denistron unit had performed well of late despite disruptions stemming from the Covid-19 pandemic.
Quixant said Desnistron had seen "healthy demand" for its products in a range of sectors, coupled with robust gross margins, and stated the unit had not experienced any material reduction in customer payments.

The AIM-listed group believes that once it starts to see the gradual reopening of more of the economy, multiple opportunities across the gaming and Densitron businesses will be presented to it.

However, Quixant did note that as the global gaming industry remained "largely closed down", demand for its gaming products had been impacted and receivables collection had been "slower than normal".

But Quixant added that positive signs of recovery were starting to show following the first reopening of venues in the US and robust attendance from players.

The group also noted that its balance sheet remained "strong" at $14.8m and said it was "confident" that it had sufficient working capital to support a prolonged slowdown in the business should the need arise.

As of 0950 BST, Quixant shares had surged 20.70% to 108.63p.

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