04 October 2017
Image Scan (AIM:IGE), the specialist supplier of X-ray screening systems to the security and industrial inspection markets is pleased to provide a further positive trading update for the year to 30 September 2017 (“FY17”). This follows the previous update issued on 29 August which pointed to sales of approximately £4.5m and profit before tax of £250k.
A multi-unit portable X-ray order was placed earlier than expected and the Company accelerated the completion of units intended for delivery later in the year for another customer to satisfy this new order. Also, factory acceptance on two industrial x-ray inspection machines was completed earlier than expected. The combined effect of these changes means that the Company generated sales of approximately £5.0m and subject to any audit adjustments, expects to report profit before tax of approximately £450k in FY17. The order book at 30 September 2017 was £2.1m. Delivery times on some orders are still subject to negotiation and could exceed 12 months in some cases.
Bill Mawer, Chairman and CEO of Image Scan, said: “September has been an exceptionally busy month for the Company and the response of our staff to new opportunities has been very impressive. I am also particularly pleased by the strength of the orderbook with which we start the new financial year. Demand for our new systems remains strong.”
The Company will issue a more detailed pre-close trading update at the end of October ahead of its preliminary results for FY17.
For further information, please contact:
Image Scan Holdings plc Tel: +44 (0) 1509 817400
William Mawer, Chairman
Sarah Atwell-King, Company Secretary
Cantor Fitzgerald Europe Tel: +44 (0) 207 894 7000
Rick Thompson / David Foreman (Corporate Finance)
Alex Pollen / Mark Westcott (Sales)
About Image Scan Holdings plc
Image Scan Holdings plc (AIM: IGE) is focused on the development and commercialisation of market leading real-time X-ray solutions for use in the global Security and Industrial inspection markets. The Company’s Security portfolio includes the ThreatScan® range of portable bomb and suspect package detection systems; the Axis range of baggage inspection systems; and SVXi, a small vehicle inspection system. The Industrial inspection solutions include the MDXi product range, cabinet X-ray systems for laboratories and production lines. The Company was founded in 1996 and joined AIM in 2002.