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Image Scan forecasts annual loss as contract delays hurt sales

By BFN News | 01:52 PM | Monday 21 October, 2019


X-ray screening system supplier Image Scan said it expected to report a full-year loss, as government contract delays hit sales. Pre-tax trading losses for the year through September were expected to amount to £370k, compared to a profit of £49k on-year. Revenue was seen falling to £2.4mm down from £3.5m, though gross margin was seen improving to 54%, from 48%. The period-end order book was at £1.70m, up from £465k on-year. 'At the start of the 2019 financial year, the company was affected by delays in overseas government contracts, resulting in a further decline in sales and a loss for the financial year.' 'However, order intake turned around strongly in the final quarter, particularly in portable X-ray, leaving Image Scan better positioned at the start of the 2020 financial year. Story provided by StockMarketWire.com

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