Kromek secures first contract win under UK government framework

(Sharecast News) - Detection business Kromek said on Monday that it has won a £1.7m contract under the UK Government's Radiological Nuclear Detection Framework.

Kromek said its new contract would see it supply of its D3S-ID wearable radiation detectors and ongoing training and product maintenance to the Home Office.

The AIM-listed group stated the total value for the contract was £1.7m, of which "a significant majority" was scheduled to be received in the current financial year and will contribute towards expected revenue growth in its CBRN Detection segment.

Chief executive Arnab Basu said: "We're proud to win our first contract under the UK Government framework for radiological and nuclear detection equipment. As one of the few pre-approved suppliers, we are uniquely positioned to support the Home Office's mission to strengthen national security and to secure further strategic orders.

"This contract affirms our leadership in the sector and highlights the significant growth potential unlocked by our selection for this critical framework".

As of 1040 BST, Kromek shares were up 5.23% at 5.74p.

Reporting by Iain Gilbert at Sharecast.com

Kromek