Image Scan Holdings PLC Trading Update (6518S)

TIDMIGE

RNS Number : 6518S

Image Scan Holdings PLC

04 October 2017

4 October 2017

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 a further positive trading update for the year to 30 September 2017 ("FY17"). This follows the previous update issued on 29 August which pointed to sales of approximately GBP4.5m and profit before tax of GBP250k.

A multi-unit portable X-ray order was placed earlier than expected and the Company accelerated the completion of units intended for delivery later in the year for another customer to satisfy this new order. Also, factory acceptance on two industrial x-ray inspection machines was completed earlier than expected. The combined effect of these changes means that the Company generated sales of approximately GBP5.0m and subject to any audit adjustments, expects to report profit before tax of approximately GBP450k in FY17. The order book at 30 September 2017 was GBP2.1m. Delivery times on some orders are still subject to negotiation and could exceed 12 months in some cases.

Bill Mawer, Chairman and CEO of Image Scan, said: "September has been an exceptionally busy month for the Company and the response of our staff to new opportunities has been very impressive. I am also particularly pleased by the strength of the orderbook with which we start the new financial year. Demand for our new systems remains strong."

The Company will issue a more detailed pre-close trading update at the end of October ahead of its preliminary results for FY17.

-ENDS-

For further information, please contact:

Image Scan Holdings plc Tel: [phone]

William Mawer, Chairman

Sarah Atwell-King, Company Secretary

[e-mail]

Cantor Fitzgerald Europe Tel: [phone]

Rick Thompson / David Foreman (Corporate Finance)

Alex Pollen / Mark Westcott (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

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October 04, 2017 02:00 ET (06:00 GMT)