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Quixant 'pleased' with Densitron unit's H1 performance

By Iain Gilbert

Date: Wednesday 22 Jul 2020

Quixant 'pleased' with Densitron unit's H1 performance

(Sharecast News) - Technology products provider Quixant said on Wednesday that it was "pleased" with the performance of its Densitron unit in the six months ended 30 June.
Quixant said Densitron had experienced "healthy demand" from a range of industrial sectors during the period, with a highlight being the medical market which saw elevated demand from new and existing customers.

The AIM-listed group added that the sector represented an "exciting growth area" and noted it was now actively exploring further organic growth opportunities.

Quixant also highlighted that gaming, its key market, had seen only minimal orders during the past three months, with most of the group's gaming clients closing down due to the Covid-19 pandemic. However, the firm said it had seen an improvement in activity in June.

Chief executive Jon Jayal said: "Given the economic circumstances, I am pleased with the performance of the group in the first six months of the financial year. Our Densitron business, which celebrates its 50-year anniversary in 2020 has performed well and has demonstrated the benefits of a diverse revenue base, and an ability to withstand economic shocks.

"Quixant's strength of customer relationships and flexibility of approach has enabled the group to drive some exciting evolutions in our offering and business model during the past few months. This, combined with our solid balance sheet, places the company in a strong position to grow over the longer term."

As of 1010 BST, Quixant shares were up 4.89% at 118p.

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