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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Currency | UK Pounds |
Share Price | 1.25p |
Change Today | -0.100p |
% Change | -7.41 % |
52 Week High | 2.35 |
52 Week Low | 1.10 |
Volume | 851,891 |
Shares Issued | 136.85m |
Market Cap | £1.71m |
RiskGrade | 320 |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
15:50 | 3,540 @ 1.10p |
12:25 | 7 @ 1.31p |
12:02 | 25,168 @ 1.16p |
11:52 | 38 @ 1.31p |
11:38 | 7 @ 1.31p |
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