Last checked at 7 May 2019 07:00
7 May 2019
Kromek Group plc
("Kromek" or the "Company")
Trading Update
Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, provides the following update on trading for the year ended 30 April 2019 ahead of announcing its full year results in early July 2019.
As noted in the interim results announcement, Kromek entered the second half of 2018/19 in a stronger position than at the same point of the prior year with the Company delivering on its previously-signed customer product contracts in all of its segments as well as continuing to win new orders. This progress continued throughout the period and, as a result, the Company expects to report revenue growth for the full year 2018/19 and EBITDA profit in-line with market expectations.
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. 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. Consequently, the Board continues to look to the future with confidence.
For further information, please contact:
Kromek Group plc | |
Arnab Basu, CEO Derek Bulmer, CFO
| +44 (0)1740 626 060 |
Cenkos Securities plc | |
Max Hartley (NOMAD) Julian Morse (Sales)
| +44 (0)20 7397 8900 |
Luther Pendragon Ltd | |
Harry Chathli Claire Norbury Alexis Gore Joe Quinlan | +44 (0)20 7618 9100 |
About Kromek Group plc
Kromek Group plc is a technology group (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride ("CZT") and other advanced technologies. Using its core technology platforms, Kromek designs, develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, security screening and nuclear markets.
The Group's products provide high resolution information on material composition and structure and are used in multiple applications, ranging from the identification of cancerous tissues to hazardous materials, such as explosives, and the analysis of radioactive materials.
The Group's business model provides a vertically integrated technology offering to customers, from radiation detector materials to finished products or detectors, including software, electronics and application specific integrated circuits ("ASICs").
The Group has operations in the UK and US (California and Pennsylvania), and is selling internationally through a combination of distributors and direct OEM sales.
Currently, the Group has over one hundred full-time employees across its global operations. Further information on Kromek Group is available at www.kromek.com and https://twitter.com/kromekgroup.