Image Scan sees FY results ahead of market expectations

AIM-listed supplier of X-ray screening systems, Image Scan, said on Monday that results for the current financial year are likely to exceed market expectations thanks to rapid order book growth.

The company said the recent order intake has exceeded £2.5m and includes new orders for industrial industrial X-ray products from the automotive industry and for cabinet, conveyor and portable X-ray products from security customers.

"These new orders mean the company will now exceed market expectations, the extent to which being dependent on both the supply chain and manufacturing performance in the period leading up to the 30th September year end."

Chief executive officer and chairman Bill Mawer said: "I am delighted with this growth in our order book and in the fact that all our major product categories are included. It is also exciting to welcome new users to the Image Scan community. As was the case last year, we now have to work with our supply chain to increase our pre year-end deliveries from this order book. This process is well underway and we already have contract labour supporting the permanent staff in our manufacturing team."

Image Scan said it will issue a more detailed statement about its expected performance once supply chain and operational planning for the new orders is complete.

At 1235 BST, the shares were up 26% to 5.65p.