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Trading statements

Image Scan increases FY profit forecast

04 October 2017 08:00

Image Scan expects pre-tax profits to be higher than previous forecasts following an exceptionally busy September.

An update issued on 29 Aug pointed to sales of approximately £4.5m and pre-tax profits of £250k.

But it said a multi-unit portable X-ray order was placed earlier than expected and the company accelerated the completion of units intended for delivery later in the year for another customer to satisfy this new order.

Also, factory acceptance on two industrial x-ray inspection machines was completed earlier than expected.

It said the combined effect of these changes meant that the company generated sales of approximately £5.0m and subject to any audit adjustments, expected to report profit before tax of approximately £450k in FY17.

The order book at 30 Sep was £2.1m.

It said delivery times on some orders were still subject to negotiation and could exceed 12 months in some cases.

Chairman and chief executive Bill Mawer said: 'September has been an exceptionally busy month for the company and the response of our staff to new opportunities has been very impressive.

' I am also particularly pleased by the strength of the orderbook with which we start the new financial year.

'Demand for our new systems remains strong.'

At 8:00am: (LON:IGE) Image Scan Holdings PLC share price was +0.75p at 9.75p

Story provided by StockMarketWire.com

Related Company: IGE

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