StockMarketWire.com - Gambling and broadcasting technology group Quixant swung to a full-year loss after the pandemic hurt the casino sector.

Pre-tax losses for the year through December amounted to $2.0 million, compared to a year-on-year profit of $9.4 million. Revenue droppped 31% to $63.8 million.

Adjusted pre-tax profit tumbled to $1.3 million, down from $10.7 million.

Quixant declared a full-year dividend of 2p per share, citing confidence in its prospects.

'Considering that our key global gaming market was so materially impacted in 2020 due to the pandemic, I believe that to report an adjusted profit before tax and an improvement in our net cash position from 2019 is a remarkable achievement,' chief executive Jon Jayal said.

'2021 has started strongly with healthy order intake such that we now have 106% coverage of internal budget for the first half of the year.'

'The board is confident in the future prospects of the group which is reflected in our decision to recommend payment of a dividend.'




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