First half pre-tax profits have returned at Image Scan, the specialists in X-ray imaging for the security and industrial inspection markets.
According to interim results for the six months ended 31 March 2023, the firm achieved a profit before tax of £16,000, in comparison to a £345,000 loss in the same period last year.
Revenue at the Leicestershire-based company, meanwhile, was 85% higher at £1.4m, growing from £790,000.
Vince Deery, Chief Executive Officer of Image Scan, said: “We are pleased with the financial results for the first half of the year.
“The half year performance demonstrates a substantial improvement over the same period last year with the higher levels of activity reported at the commencement of the financial period successfully converted into contracts and delivery of product to customers.
“With careful cost management and continued improved market activity and product innovation we hope to maintain the momentum to deliver a full year in line with market expectations.”
The news comes as, as part of the Board’s succession plan, Dr Richard Leaver has stated his intention to resign as vice chairman, leaving the Board at the end of the financial year.
