Image Scan signals uplift in expected full-year profit

Specialist x-ray screening system supplier Image Scan updated the market once again on its trading for the year to 30 September, following a previous update issued on 29 August which pointed to sales of approximately £4.5m and profit before tax of £0.25m.

The AIM-traded firm said a multi-unit portable x-ray order was placed earlier than expected and the company had accelerated the completion of units intended for delivery later in the year for another customer to satisfy this new order.

Additionally, the company said factory acceptance on two industrial x-ray inspection machines was completed earlier than expected.

The combined effect of those changes meant that the company generated sales of approximately £5m and - subject to any audit adjustments - said it expected to report profit before tax of approximately £0.45m in FY17.

Image Scan’s order book as at 30 September was £2.1m, with the board adding that delivery times on some orders were still subject to negotiation and could exceed 12 months in some cases.

“September has been an exceptionally busy month for the company and the response of our staff to new opportunities has been very impressive,” said chairman and CEO Bill Mawer.

“I am also particularly pleased by the strength of the order book with which we start the new financial year.

“Demand for our new systems remains strong.”

Image Scan said it would issue a more detailed pre-close trading update at the end of October ahead of its preliminary results for FY17.