Kromek secures £1.7m multi-year contract

Radiation and bio-detection technology developer Kromek has been awarded a new multi-year contract worth £1.7m from an existing UK government-related customer.

Kromek said on Monday that the contract was for the provision of chemical, biological, radiological and nuclear detection products and services.

The AIM-listed firm added that it would be delivered over the next four years, with revenue split equally over that period.

Chief executive Dr Arnab Basu said: "We are pleased to have received this new contract from this long-standing customer. It is testament to the value that they place on our products and the nature of our CBRN business where we build solid relationships and continue to receive repeat orders.

"Governments are becoming increasingly aware of the need to enhance their wide-area monitoring in order to be able to provide early warning of the presence of CBRN material as well as a full range of CBRN threats, and our solutions are best placed to provide them with this capability."

As of 1105 BST, Kromek shares were down 0.74% at 10.05p.