NXT revenues up
Huntingdon based sound solutions provider, NXT, increased revenues 42 per cent to £1.73m in the six months to the end of December. Huntingdon based sound solutions provider, NXT, increased revenues 42 per cent to £1.73m in the six months to the end of December.
Operating losses narrowed to £1.74m from £2.74m.
A total of 3.7 million speakers were shipped in the half – 72 per cent ahead – while royalty receipts increased by 34 per cent to £0.88m.
Significantly, the first mass market cars with NXT technology were announced and new products in key sectors were launched by Kensington, Logitech, NEC, Philips and Hitachi.
MacKay warned that NXT faced a number of challenges in the short term and, as a result, revenue growth in the second half would be restrained. “We anticipate only marginal progress over first-half levels,” he said.
He felt this was merely a “temporary hiatus” and that NXT was well positioned to continue its progress towards sustainable profitability.