We are world-leading technology outsource partners delivering highly-specialised products focussed on the needs of specific global industries.
We combine hardware, software, haptic and mechanical engineering expertise with detailed industry knowledge – making us the ubiquitous and natural partner for successful businesses in the markets in which we operate.
Our Densitron brand is a specialist in engineering solutions to optimise Human Machine Interaction (HMI), supporting a range of sectors including Broadcast, Medical and Industrial applications. Densitron provides best-in-class control systems, control surfaces and custom displays to enhance interaction with equipment used in these industries.
“The Group has delivered an excellent year of growth, significantly ahead of initial expectations. Against a backdrop characterised by substantial supply and economic disruption, this performance is even more pleasing.
This is testament to the strength of our customer relationships, quality of our people, resiliency in our management of supply chains and the value attributed to our innovative technology solutions. Driven by our growth strategy, we have exited the year with a more diversified product set, broader customer base and more robust platform from which to grow.
As we start the new year, we remain cognisant of wider recessionary challenges however a robust order book supports further growth in FY23. We believe our business strategy positions us well for long-term diversified growth in the Group’s revenue and profits.”
Jon Jayal Chief Executive Officer
16 January 2023
Our engineering competence, innovative thinking and commerciality is proven to deliver healthy growth in the gaming industry. The highly-regulated nature, the size of the market and strength of our reputation provide continued strong growth in the gaming sector – and a solid platform for future success in the sports betting arena.
We know that our ability to generate vertical market focussed technology has wider applications in other new markets. Through Densitron we can and are identifying new focus verticals that can augment our growth beyond gaming. The broadcast market is one such market. Today the opportunity is in its infancy but is already starting to gain momentum.
Our business model is supported by the following key components:
Our expert teams are dedicated to developing and delivering sophisticated technology and high-performance products that enhance user experience and have a greater impact on commercial success.
Growth is targeted to arise from the following:
We have invested in the operational capacity of the Group over the last four years, and now have increased operational leverage through which to exploit revenue growth.
Revenue growth of 5% to $115.2 million (2017: $109.2 million)
Core gaming platforms business posting 14% growth in revenue over the year to $62.5m (2017: $54.8m) relative to the previous year
Gross profit for the year $39.8 million representing a gross margin of 35%
Adjusted2 diluted EPS up 14% to $0.260/share (2017: $0.229/share)
Diluted EPS up 8% to $0.213/share (2017: $0.197/share)
Net cash from operating activities up 40% to $11.3m (2017: $8.1m)
Net cash at period end of $9.7m (2017: $4.5m)
Proposed full year dividend of 3.1p per share (2017: 2.6p), an increase of 19%
Increased market share in the core Gaming Division to 13%, supplying 61,000 platforms (2017: 11% and 52,000)*
Enhanced features added to the Gaming Ecosystem®, expanding Quixant’s routes to market
New products launched by Densitron to target the broadcast market
Enhanced Group structure to create more scalable operations
Significant long-term growth opportunities, including opening of the market in Japan
*Source: G3 Global Gaming Market report 2018 – 475,000 annual replacement cycle
For more detailed information please download our latest Company presentation: