Image Scan Holdings (IGE)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

 1.90p
   
  • Change Today:
      0.000p
  • 52 Week High: 4.30p
  • 52 Week Low: 1.80p
  • Currency: UK Pounds
  • Shares Issued: 136.85m
  • Volume: 37,550
  • Market Cap: £2.60m
  • RiskGrade: 320

Weak first half leads to lower full-year sales for Image Scan

By Josh White

Date: Wednesday 03 Nov 2021

LONDON (ShareCast) - (Sharecast News) - Security and industrial x-ray and screening technology company Image Scan said in a trading update on Wednesday that its order bookings increased to £2.8m for the financial year just finished, from £2.4m in 2020.
The AIM-traded firm said sales fell to £2.9m for the 12 months ended 30 September, from £3.5m in the prior financial year, following a "weak" first half.

Its gross margin improved to 53% from 49%, as the company said it maintained "strong control" of its overheads, which reduced by 18% to £1.3m.

Reportable unaudited pre-tax trading profit came in at £0.19m from £0.11m, while Image Scan's pre-tax trading profit, adjusted for capitalized research and development spend, narrowed to £0.1m from £0.11m.

On the operational front, the company noted that it had received the first orders for its new cabinet x-ray systems, as well as first orders from government customers in the United States.

Image Scan's period-end order book totalled £0.52m, from £0.63m at the end of 2020, while the firm reported a "strong" year-end cash balance of £1.2m.

"The Covid-19 pandemic has continued to impact all aspects of the business," said chairman and chief executive officer Bill Mawer.

"Launching a new product without being able to visit customers or attend trade shows has presented a considerable challenge, as has servicing our widely deployed industrial x-ray machines."

Mawer said that first orders were received for the new product, however, while the firm's industrial service contracts were delivered, and a profit was made for the second year in a row.

"Disruption to global supply chains remains a concern but, with more product launches planned for the new year, and a world that is starting to adjust to the presence of Covid-19, we retain our optimistic outlook for the future."

At 1358 GMT, shares in Image Scan Holdings were down 5.66% at 2.5p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

IGE Market Data

Currency UK Pounds
Share Price 1.90p
Change Today 0.000p
% Change 0.00 %
52 Week High 4.30p
52 Week Low 1.80p
Volume 37,550
Shares Issued 136.85m
Market Cap £2.60m
RiskGrade 320

IGE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
53.39% below the market average53.39% below the market average53.39% below the market average53.39% below the market average53.39% below the market average
43.59% below the sector average43.59% below the sector average43.59% below the sector average43.59% below the sector average43.59% below the sector average
Income Not Available
Growth
48.22% above the market average48.22% above the market average48.22% above the market average48.22% above the market average48.22% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average

IGE Dividends

No dividends found

Trades for 26-May-2022

Time Volume / Share Price
11:40 10,000 @ 1.94p
08:30 2,525 @ 1.94p
08:10 25,025 @ 1.96p

IGE Key Personnel

Finance Director Sarah Atwell-King

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