Last checked at 22 Aug 2016 07:00
22 August 2016
IMAGE SCAN HOLDINGS PLC
("Image Scan" or the "Company")
(AIM: IGE)
Trading Update - Year End Deliveries
Image Scan, the AIM-listed specialist supplier of X-ray screening systems to the security and industrial inspection markets, is pleased to provide a trading update for the year to 30th September 2016. This trading update follows on from the development of the supply chain and manufacturing plans for the large order for ThreatScan®-LS1 portable X-ray systems which was previously announced on 30th June 2016. At that time the Company made clear that it would only be able to comment on the potential impact of this order on the performance for the current financial year once the relevant supply chain and operational planning was duly completed.
Accordingly, the Company anticipates to have recognized the sale of approximately half this £800k order by the end of the financial year and therefore now expects to materially exceed current market expectations.
Bill Mawer, Chairman and CEO of Image Scan, said: "For a Company the size of Image Scan, large orders can present their own challenges. However excellent progress has been made with the planning for the recent orders and we have the commitments from our supply chain. I am delighted that as a consequence Image Scan will now approach EBIT break even in the current financial year".
The Company will issue a pre-close trading update in October ahead of its results for the year ended September 2016.
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.
-ENDS-
For further information, please contact:
Image Scan Holdings plc Tel: +44 (0) 1509 817400
William Mawer, Chairman
Sarah Atwell-King, Company Secretary
ir@ish.co.uk
Cantor Fitzgerald Europe Tel: +44 (0) 207 894 7000
Rick Thompson / David Foreman / Michael Reynolds (Corporate Finance)
David Banks / Alex Pollen (Sales)
About Image Scan Holdings plc
Image Scan Holdings plc (AIM: IGE) is focused on the development and commercialisation of market leading real-time X-ray solutions for use in the global Security and Industrial inspection markets. The Company's Security portfolio includes the ThreatScan® range of portable bomb and suspect package detection systems; the Axis range of baggage inspection systems; and SVXi, a small vehicle inspection system. The Industrial inspection solutions include the MDXi product range, cabinet X-ray systems for laboratories and production lines. The Company was founded in 1996 and joined AIM in 2002.
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