StockMarketWire.com - Gambling and broadcasting technology group Quixant swung to first-half profit amid a recovery in the casino and slot-machine market.

Pre-tax profit for the six months through June amounted to $0.8 million, compared to year-on-year losses of $3.0 million.

Revenue rose 31% to $36.5 million and included a 55% improvement in the company's gaming division.

Looking forward, Quixant said a strong order intake provided 115% order coverage of full-year management revenue expectations and visibility into 2022.

'Component shortages and price inflation remain a challenge and we do not anticipate significant improvement in the short term,' chief executive Jon Jayal said.

'While our customers have been accepting of essential price rises, nonetheless we expect a period of continued margin volatility.'

'However, our strong cash position and good relationship with suppliers, built up over many years, help to mitigate the impact.'


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