RE: 800k Contract!18 Sep 2019 12:45
StockMarketWire.com - Image Scan has announced a contract win, which is worth in excess of £800,000, and will provide Image Scan's ThreatScan portable X-ray systems to a security organisation of a European country.
The new contract is expected to be delivered in the first half of financial year ending 30 September 2020 and so will not impact the sales and profits performance for the year ending 30 September 2019.
As previously reported, security sales were disappointing in the third quarter and the business will make a loss in FY 2019. The loss is the expected to be in the region of £400,000.
Image Scan's Chairman and Chief Executive, Bill Mawer, commented: 'This was an excellent win from a demanding customer against stiff competition and gives us confidence in the competitiveness of our portable X-ray systems in a crowded market.' 'Our overall performance for the current financial year has been disappointing and we look to our extensive sales and product development initiatives to drive improved performance in FY 2019/20.'