Image Scan, the Leicestershire-based supplier of X-ray screening systems to the security and industrial inspection markets, has reported a decline in sales and profits.
In a pre-close trading update ahead of its results for the year ended 30 September 2019, it reported that sales had decreased to £2.4m from £3.5m in 2018.
Meanwhile the firm noted an unaudited trading loss before tax of approximate £370k (a profit of £49k in 2018).
At the start of the financial year, the Company was affected by delays in overseas Government contracts, resulting in a further decline in sales and a loss for the financial year. However, order intake “turned around strongly” in the final quarter, particularly in portable X-ray, leaving Image Scan better positioned at the start of its 2020 financial year.
Image Scan’s Chairman and Chief Executive, Bill Mawer, said: “It is disappointing to be reporting a decline in sales and profits. However, while the portable X-ray market has undoubtably become more competitive, recent orders show that our strong product range and focused international sales activity can still deliver.
“I am pleased to report that we start the new financial year with an order book that includes more portable systems than were delivered in all of last year. Our strong network of international partners will provide further growth opportunities as new products come to market.”