LONDON (ShareCast) - (ShareCast News) - Gaming machines manufacturer Quixant said trading in the first half of the year was in line with management's expectations.
Furthermore, the group has entered the second-half period with a strong order book, which analysts believe will convert into accelerating revenue growth.

Chief executive Nick Jarmany said: "There has been significant M&A among larger manufacturers over the last year which will increase their focus on cost efficiencies.

"We anticipate that long term this should prove of significant benefit to Quixant."

Numis analysts said: "This is a 2H-weighted business and so we would not expect enough confidence for an upgrade (if there is to be one) until later in the year.

"However, changes in the gaming machine manufacturing industry are making us more confident in Quixant's long-term prospects."

The broker maintained its 'buy' recommendation and 190p target price as it believes its strong order book in terms of the number of manufacturers with which it is working will convert into accelerating revenue growth.

The group's results for the six months ended 30 June 2015 will be released in September.

Shares in Quixant rose 0.95% to 159p on Wednesday at 15:04.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE