Quixant invests in inventory amid strong trading
By Josh White
Date: Thursday 05 May 2022
(Sharecast News) - Gaming and broadcast technology company Quixant said in an update on Thursday that the strong demand for its specialist solutions in both the gaming and Densitron divisions had continued through the first four months of the year.
The AIM-traded firm, which was holding its annual general meeting, said year-to-date order intake was "significantly ahead" of the same period in 2021 across both businesses.
Board chair Francis Small told shareholders that it had continued its decision to invest in stock to manage supply chain issues, with the recent lockdowns in China potentially contributing to pressures.
"However, given our strong relationships with suppliers, we continue to successfully manage the challenges and meet customer demand," Small said.
"Year-to-date revenues are well ahead of the same period in 2021 across both divisions despite what remains a challenging global supply chain environment."
Francis Small added that, as the firm said in its 2021 full-year results, it was investing to manage future growth and mitigate supply chain issues, which in the near-term required using its strong cash position to invest in inventory.
"The healthy trading year to date and order intake give us confidence that we will achieve full-year market expectations for both revenue and profit.
"We believe the business is in a strong position to deliver long-term sustainable growth through its portfolio of specialist outsource technology solutions."
At 1207 BST, shares in Quixant were up 2.68% at 153p.
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