Image Scan Holdings to break even due to large x-ray order
X-ray screening system supplier Image Scan Holdings is due to approach financial break-even when it reports its yearly results in September due to a large order for its portable x-ray system.
In a trading update, the company said it expects to realise approximately half of the £800,000 value of the contract for its ThreatScan LS1 portable x-ray system announced on 30 June in the current financial year.
The AIM-listed company said that due to the order it now expects to “materially exceed market expectations”.
Chairman and chief executive, Bill Mawer, 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 earnings before interest and tax (EBIT) break-even in the current financial year"
Shares in Image Scan Holdings were up 7.83% to 6.20p at 1145 BST.