Nexteq flags fall in first-half revenue

(Sharecast News) - Nexteq said on Friday that first-half revenue was expected to fall to about $26.7m from $40.7m, in line with revised expectations, as weakness in its Quixant land-based gaming division offset stable trading at Densitron. Densitron revenue was broadly flat at around $13.9m, while Quixant revenue was expected to drop to $12.7m from $26.9m amid tariff uncertainty, higher component costs and customer consolidation in North America.

The AIM-traded group maintained full-year guidance for revenue of $73.0m, adjusted EBITDA of $2.8m and adjusted pre-tax profit at break-even, with second-half revenue expected to be significantly ahead of the first half.

Cash fell to $10.7m from $28.5m after inventory investment and $8.5m of shareholder returns, while co-founder and deputy chair Nicholas Jarmany will retire from the board at the end of August.

At 1106 BST, shares in Nexteq were down 1.96% at 50p.

Reporting by Josh White for Sharecast.com.

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