(Sharecast News) - Security and industrial screening specialist Image Scan announced an initial order worth £0.3m from a partner on Monday, for the supply of 'ThreatScan-AS1' portable x-ray systems as part of a framework contract secured by the partner with a European Ministry of Defence organisation.
The AIM-traded form said the order, scheduled for delivery in the second half of the 2024 financial year, was a significant milestone, as it was the first substantial order for the ThreatScan-AS1.
While further orders were anticipated throughout the partner's two-year framework contract, the exact volume and timing remained uncertain.
However, Image Scan said the initial order was expected to meet its expectations for the year ending 30 September.
The board said the framework contract's implementation was not anticipated to impact its working capital requirements.
"We are thrilled to announce this initial order, it marks a major step forward in positioning our portable x-ray product line and underscores the strength of our international sales and marketing efforts," said chief executive officer Vince Deery.
"We are confident that the superior capabilities of our new systems will resonate with other customers globally."
At 0952 BST, shares in Image Scan Holdings were up 16.33% at 1.4p.
Reporting by Josh White for Sharecast.com.
Image Scan Holdings (IGE)