Image Scan Holdings Regulatory News (IGE)

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain

13 September 2021

IMAGE SCAN HOLDINGS PLC

("Image Scan" or the "Company")

TRADING UPDATE - NEW ORDERS

Image Scan (AIM: IGE), specialists in the field of X-ray imaging for the security and industrial inspection markets, provides a trading update for the financial year to 30 September 2021, following new orders from police customers late in the second half.

The first order, received after a rigorous selection process, is from a UK Police Force and is for four ThreatScan®-LSC portable X-ray systems. ThreatScan®-LSC is a combination package including both small and large format detector panels, back-pack, tablet PC imaging station and the I-Gen generator. The system provides great deployment flexibility for different threat scenarios, further enhanced in this case by the addition of WiFi range extenders to the package.

The second order is for a further two ThreatScan®-LSC systems and is from a Police Department Bomb Squad in the USA. This order is the first sale of Image Scan's ThreatScan® portable X-ray systems in the USA.

It is anticipated that both orders will be delivered before the end of the financial year. This, together with continued careful management of costs, gives the Board the confidence to provide earnings guidance for the year ending 30 September 2021 of sales of approximately £2.9m and a trading profit performance close to breakeven. This represents a material improvement on the previously forecast loss of £200k.

Bill Mawer, Chairman and Chief Executive Officer of Image Scan commented: "I am delighted by these contract awards for our highly integrated ThreatScan®-LSC systems. Orders from these police forces provide prestigious points of reference for future campaigns. It is also rewarding to see our sales efforts in the USA achieve such an important first ThreatScan® customer. The improvement in our anticipated result will preserve our cash position and allow us to continue to invest in our exciting product development programme."

The Company will provide a pre-close statement on its results for the year to 30 September 2021 in October 2021.  

For further information on the Company, please visit: www.ish.co.uk and for further information on its products, please visit: www.3dx-ray.com