Image Scan Holdings PLC Trading Update (6686J)
April 04 2018 - 1:00AM
UK Regulatory
TIDMIGE
RNS Number : 6686J
Image Scan Holdings PLC
04 April 2018
4 April 2018
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
announcement, this inside information is now considered to be in
the public domain
IMAGE SCAN HOLDINGS PLC
("Image Scan" or the "Company")
Trading update
Image Scan (AIM:IGE), the specialist supplier of X-ray screening
systems to the security and industrial inspection markets is
pleased to provide this trading update for the first half of
FY18.
The Company has reached an agreement for the terms of the order
cancellation announced in January 2018 and is pleased to report
that all the portable X-ray units from this order have been
repackaged and sold to other customers in Europe and Asia.
Separately a new sales initiative into South America has delivered
its first results with a new multi-unit order from a region with
good growth opportunities. The Company also saw strong customer
interest in the new, high performance ThreatScan2(R) at the
Security and Counter Terror Exhibition in London's Olympia in March
2018 and customer demonstrations are now taking place in several
territories.
In addition to its security systems, Image Scan provides its
MDXi range of industrial X-ray inspection systems to manufactures
of catalytic converters and diesel particulate filters in the
automotive industry. Orders have been received for a total of five
MDXi 400 systems, to be installed in catalytic converter plants in
Asia and Europe. It is expected that these units will be delivered
in the second half of FY18. Service contracts will also be
established for all the new units.
The business is trading in line with market expectations for the
year end and the Board now expects the Company to perform at close
to break even for the first half of FY18.
Image Scan's Chairman and Chief Executive, Bill Mawer,
commented:
"I am pleased that we have now put the cancelled portable X-ray
order behind us, recycling those units to other customers. The
level of interest in our new, high precision detector is promising
and we have several units in demonstration and trial programmes.
The new industrial orders show continued confidence in Image Scan
and our products from global industrial companies in the automotive
industry. It is relatively rare for us to be building more than one
MDXi system at a time, so to have five systems going through the
factory in one batch will allow us to benefit from supply chain and
manufacturing efficiencies."
The Company will announce its Interim results on 30 April
2018.
-ENDS-
For further information, please contact:
Image Scan Holdings plc Tel: +44 (0) 1509 817400
William Mawer, Chairman
Sarah Atwell-King, Company Secretary
ir@ish.co.uk
Cantor Fitzgerald Europe Tel: +44 (0) 207 894 7000
Rick Thompson / David Foreman (Corporate Finance)
Alex Pollen / Caspar Shand Kydd (Sales)
About Image Scan Holdings plc
Image Scan Holdings plc (AIM: IGE) is focused on the development
and commercialisation of market leading real-time X-ray solutions
for use in the global Security and Industrial inspection markets.
The Company's Security portfolio includes the ThreatScan(R) range
of portable bomb and suspect package detection systems; the Axis
range of baggage inspection systems; and SVXi, a small vehicle
inspection system. The Industrial inspection solutions include the
MDXi product range, cabinet X-ray systems for laboratories and
production lines. The Company was founded in 1996 and joined AIM in
2002.
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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