Business
Half Yearly Report
Half Yearly Report.
About this update from Image Scan Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 4018J Image Scan Holdings PLC 12 June 2014 \n \n\nImage Scan Holdings plc\nInterim report 2014\n \n \n12 June 2014\n \nIMAGE SCAN HOLDINGS PLC\n(\"Image Scan\" or the \"Company\")\n(AIM: IGE)\n \nINTERIM RESULTS \nRevenue up 57%, reduced overheads\n \nImage Scan, the AIM-listed specialist supplier of x-ray screening systems to the security and industrial inspection markets, today announces its interim results for the six months ended 31 March 2014.\n \nFinancial summary:\n· Revenue up 57% to £1,678,000 (2013: £1,072,000)\n· Gross profit margin of 31% (2013: 32%) after provision for further losses on the nuclear contract\n· Overheads down 22% to £576,000 (2013: £740,000) following the 2013 restructuring exercise\n· Loss after taxation of £36,000 (2013: £389,000) \n· Period end bank balance of £25,000 (2013: £138,000)\n· Current bank balance of £190,000\n \nOperational highlights:\n· Board realigned and strengthened with appointment of Bill Mawer as Chairman and Chief Executive Officer\n· H1 revenue increase based on strong sales across whole security product range\n· Delivered a number of multiple unit contracts for the portable FlatScan system\n· Repeat sales of standard industrial systems to existing customer\n· Confirmed orders of £2.3m having opened the year with £1.2m and booked £1.1m of new orders in the year to date\n \n \nBill Mawer, Chairman and Chief Executive Officer of Image Scan, commented: \"These results show positive improvement over the equivalent period in the prior year, and the growth in sales in the core portable X-ray market is particularly encouraging. Maintenance of that growth is dependent, in the short term, on the supply of a newly developed replacement portable x-ray generator, and, in the medium term, on the timely completion of new product development.\n \n\"Image Scan has a strong brand in its core markets; however, there is a need to accelerate product development in order to drive the business f...