Image Scan Holdings PLC Trading Update (5175X)
01 Settembre 2020 - 8:00AM
UK Regulatory
TIDMIGE
RNS Number : 5175X
Image Scan Holdings PLC
01 September 2020
01/09/2020
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
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the public domain
IMAGE SCAN HOLDINGS PLC
("Image Scan" or the "Company")
TRADING UPDATE
Image Scan, (AIM: IGE) specialists in the field of X-ray imaging
for the security and industrial inspection markets, provides a
trading update for the financial year to 30 September 2020,
following better than expected performance in the second half.
The Company has continued to run its sales, manufacturing, and
product development operations through the ongoing COVID-19 crisis.
As anticipated in the interim results statement, the overall
security technology market has been adversely impacted by the
pandemic, but orders have continued to be received and equipment
delivered. The initial impact of COVID-19 on the Company's supply
chain has been mitigated and we are currently able to source the
parts and subsystems needed for product sales.
While the year-end sales outcome is expected to be close to that
anticipated, margins on orders received have been better than
expected and the company has managed its overhead costs and stock
carefully meaning that profits for the year will be ahead of
current market expectations.
The Board now has sufficient confidence in the Company's trading
to provide earnings guidance for the year ending 30 September 2020
of sales of GBP3.3m to GBP3.5m and a profit performance between
breakeven and GBP100k.
Bill Mawer, Chairman and Chief Executive Officer of Image Scan
commented: "I have been delighted by the outstanding effort of our
entire team to keep all aspects of the business running through the
COVID-19 crisis. This improvement in our anticipated results arises
directly from their efforts. We expect the pandemic to continue to
impact orders for some time but are moving forward with our new
product development programmes in order to further improve our
performance as the crisis wanes and the security technology market
recovers."
The Company will provide a pre-close statement on its results
for the year to 30 September 2020 in October 2020.
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
Enquiries:
Image Scan Holdings plc Tel: +44 (0) 1509 817
William Mawer, Chairman and Chief Executive Officer 400
Sarah Atwell King, Finance Director and Company ir@ish.co.uk
Secretary
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W H Ireland Tel: +44 (0) 117 945
Mike Coe/Chris Savidge (Corporate Finance) 3470
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END
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