Leicestershire-based Image Scan, the specialist supplier of X-ray screening systems to the security and industrial inspection markets, is expecting to make a loss of £400,000 for the financial year to 30 September 2019, after disappointing security sales.
The news came alongside the award of a substantial security X-ray contract, which is worth in excess of £800,000.
The new contract is to provide Image Scan’s ThreatScan® portable X-ray systems to a security organisation of a European country. The new contract is expected to be delivered in the first half of financial year ending 30 September 2020 and will therefore not impact the sales and profits performance for the year ending 30 September 2019.
Image Scan’s Chairman and Chief Executive, Bill Mawer, said: “This was an excellent win from a demanding customer against stiff competition and gives us confidence in the competitiveness of our portable X-ray systems in a crowded market. We look to win further security orders of this type in the new year and, in the last week, have been demonstrating our equipment at the DSEI show in London in support of that aim.
“Our overall performance for the current financial year has been disappointing and we look to our extensive sales and product development initiatives to drive improved performance in FY 2019/20.”