Trading Update And New Contract Awards
Summary by AI BETAClose X
This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
IMAGE SCAN HOLDINGS PLC
("Image Scan" or the "Company")
Trading Update
And
New Contract Awards
Image Scan Holdings PLC (AIM: IGE), the specialist provider of X-ray screening systems, announces a trading update and two new contract awards, further strengthening its significant order book.
As indicated in the Interim Results announcement, the Board is anticipating a positive second half of the year, albeit the result for the full year will be dependent on the timing of order receipts and their subsequent delivery. Although the Board believes there are no fundamental issues with the Company's suppliers, long lead times in the supply chain are impacting manufacturing and assembly time. As a result, the outcome for the year ending 30 September 2025 remains uncertain but the expectation is that current market guidance will not be achieved.
The Company's cash position at the end of July was £771k, which represents an improvement on the cash position of £512k as at 31 March 2025 and is not expected to be materially different by the year end, however this will be dependent on timely receipts from new contracts and deliveries.
The Board is delighted with the two new significant contract awards, but it is as yet unclear whether these orders and other anticipated orders can be delivered before the year end.
The first order is for a new customer in North America for the Company's industrial MDXi-400 system, a significant success given the current maturity of this market. The second is an order for our latest portable ThreatScan® system for another new customer, an Eastern European military organisation. The Company is also in the process of delivering a double-digit quantity of ThreatScan® systems to a customer in Southeast Asia and anticipates this will be completed before the end of the financial year.
The Company continues to seek clarity in respect of the large contract timing received from a UK defence contractor, with a status update anticipated during Q1 of the next financial year.
The Company is actively managing the supply chain challenges and the entire team remains focused on delivering its significant order book.
For further information on the Company, please visit: www.ish.co.uk and for further information on its products, please visit: www.3dx-ray.com
-ENDS-
Image Scan Holdings plc Tel: +44 (0) 1509 817400
Vincent Deery CEO
Sarah Atwell-King, CFO & Company Secretary
Zeus - Nominated Advisor and Corporate Broker Tel: +44 (0)203 829 5000
Mike Coe/James Bavister (Investment Banking)
ABOUT IMAGE SCAN HOLDINGS PLC
About Image Scan Holdings plc
The core activity of the Group is the manufacture of portable X-ray systems for security and counter terrorism applications. The Group recently launched a cabinet X-ray machine and is replacing its Axis range of checkpoint X-ray systems with new machines developed with a partner. All these products are taken to market across the world through a strong network of international partners.
In addition, over the last seventeen years, Image Scan has developed and manufactured industrial X-ray inspection systems, the MDXi range. The primary market for these systems is in automotive emissions control where they are used for quality control inspection of catalytic converters and diesel particulate filters.
The visibility and reach of the Company's 3DX-Ray brand has been further strengthened through a new LinkedIn profile focussed on its EOD and counter-terrorism activities. This can be found at: https://www.linkedin.com/company/3dx-ray/
For further information on the Company, please visit: www.ish.co.uk - and for further information on its products, please visit: www.3dx-ray.com
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