ukcitymedia news feed

Image Scan Holdings - a decline in orders hits profits

Image Scan Holdings - a decline in orders hits profits

Wed 5 Dec 2018 07:55 by ukcitymedia.co.uk about : trading updates - 0 Comments - 679 words


Image Scan (AIM: IGE), the specialist supplier of X-ray screening systems to the security and industrial inspection markets, today announces preliminary results for the year ended 30 September 2018.

HIGHLIGHTS

·     Sales of £3.5m (2017: £5m)

·     Gross margin increased to 47% (2017: 38%)

·     Profit before tax and exceptional costs associated with aborted acquisition of £96k (2017: £480k)

·     £780k of cash at the year end (2017: £1.3m)

·      Record sales of industrial inspections systems

·     Launch of ThreatScan® 2 precision detectors

·     Strengthened operations and sales teams

·     Re-certificated Quality system to ISO 9001:2015

 

Bill Mawer, Chairman and Chief Executive of Image Scan, commented: "Image Scan grew rapidly in both sales and profits between 2015 and 2017 and so the cancelled order and the failure of the attempted acquisition have come as disappointments. A decline in portable X-ray orders has exacerbated this.  Our order pipeline is strong, we have strengthened our team and re-focussed our research and development activity to drive the business forward through organic growth.

In FY19 we plan to expand our security product range, extend our geographical market reach, and further build on our recent operational improvements. Our industrial activity is performing well and continued tightening of automotive emissions legislation around the world provides a helpful backdrop for the highly specialised inspection systems we provide.

The company has attractive and highly differentiated products in strongly performing market segments. We are well placed to put the setbacks of 2018 behind us and return to the growth of previous years."



These articles are usually news summaries / highlights and dont always include all financial news updates. Check at company website INVESTORS INFORMATION for full published results.


Add a comment


Username:


Email:


Security key:


Message:






More

ukcitymedia news feed




 


ukcitymedia moderates but does not authenicate postings. Users are reminded that shares and all trading instruments by nature do not always prove to be good investments. Readers are reminded to do your own research. ukcitymedia.co.uk delivers UK stock market news, latest shares news, uk financial news, rns news articles, latest business news, latest uk financial news, stockmarket investment news, business news round-ups. director dealings bulletins, stock market reports, share trading articles, latest finance news, broker recommendations, uk city news, latest financial information. ukcitymedia.co.uk does not offer financial advice.