LONDON (Alliance News) - Kromek PLC said Tuesday it expects annual profit and revenue to be in line with market expectations after a "stronger" performance in the second half of the year.
For the year ended April, the radiation detection firm expects to report "revenue growth" and earnings before interest, taxes, depreciation and amortisation "in line" with market expectations.
Kromek explained that this was after it had entered the second half of the year in a "stronger position" than the year prior, with its "delivering on its previously-signed customer product contracts in all of its segments as well as continuing to win new orders."
This progress, Kromek added, had continued throughout the second half of the year.
"The company continues to gain traction in all its business segments with the award of high-value, multi-year contracts from its commercial and large government customers worldwide," Kromek added in a statement.
"With the increasing market adoption of its customers' next-generation products that incorporate Kromek's radiation detection solutions, combined with the successful fundraising completed in the second half of 2018/19, the company is well-placed to capitalise on the expanding opportunities," Kromek continued. "Consequently, the board continues to look to the future with confidence."
In February, Kromek raised GBP21 million through a discounted share placing at 25 pence per share.
Shares in Kromek were 3.3% higher at 26.85p on Tuesday.
Kromek (KMK)