Image Scan Holdings PLC - Leicestershire, England-based X-ray imaging systems provider - Says that while the overall security technology market has been hurt by the pandemic, orders have continued to be received and equipment have continued to be delivered. States while year-end sales are expected to be close to anticipated, margins on orders received have been better than expected. Adds its has managed its overhead costs and stock carefully and therefore profits for its financial year ending September will be ahead of current market expectations.
For financial 2020, Image Scan expects sales of GBP3.3 million and profit performance of between break-even and GBP100,000. For financial 2019, pretax loss was GBP401,811 and revenue was GBP2.4 million.
Looking ahead, Chair & Chief Executive Bill Mawer said: "We expect the pandemic to continue to impact orders for some time but are moving forward with our new product development programmes in order to further improve our performance as the crisis wanes and the security technology market recovers."
Current stock price: 2.70 pence
Year-to-date change: up 10%
By Ife Taiwo; ifetaiwo@alliancenews.com
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Image Scan Holdings (IGE)