Quadnetics spots big profits in gaming and commodities markets

Surveillance technology company Quadnetics has seen a dramatic jump in like-for-like sales in the first quarter of 2012, as it cashed in on demand from the gaming and oil and gas sectors.

LFL sales gained 15% between January and March compared to the same period of 2011, while margins have also improved.

Sales of surveillance systems for the US gaming industry and for major oil and gas developments in Australia, the Middle East and Far East have shown particular strength.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Today's statement, ahead of the annual general meeting, reveals the defence market remains weak but a focus on big projects in the UK has borne fruit. Quadnetics has recently won the contract for the upgrade and maintenance of Magnox nuclear facilities across Britain.

The company says it expects to deliver results "in line with market expectations".

The stock had gained 6.2% by 11:07 and is now 26.4% up since the beginning of 2012.

BS