Sunday, July 3, 2022

X-ray specialists see losses widen

Image Scan, the Leicestershire-based specialists in the field of X-ray imaging for the security and industrial inspection markets, has said the overall level of trading in its first half has been “disappointing.” However some important new customers were acquired, and a new product was launched.

Revenue at the firm has declined to £790k according to interim results for the six months ended 31 March 2022. This is in comparison to £868k in the same period of the prior year.

Meanwhile the company posted a loss before tax of £345k, widening from a loss of £201k.

Bill Mawer, chairman and Chief Executive Officer of Image Scan, said: “The overall level of trading in our first half is disappointing, an indication of the sluggish recovery of our markets from the impact of the COVID-19 pandemic.”

Mawer continued: “We look for a number of delayed government procurements for portable X-ray systems to finally close and are working hard to ensure this happens early in the second half. The slowdown in the automotive market is impacting our industrial activity, though the acquisition of a new customer in this space is a positive development.”

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