Image Scan issues profit warning as export order stalls
Image Scan, the Leicestershire-based X-ray firm, has issued a profit warning this morning after cancelling an export order worth £1m.
The news comes after the firm failed to receive confirmation of an order for portable X-ray products. Although Image Scan says it can sell these on to other customers, it might not be in time for its full-year 2018 results, and although the company says it will remain profitable, trading may well well be “materially below current market expectations”.
Bill Mawer, chairman and chief executive of Image Scan, said: “After successive periods of growth it is disappointing to anticipate a fall-off in our expected performance for the current year. However, there is always some risk in taking large orders in some export markets even from existing customers. I would like to emphasise that this issue is not one of product performance, and our security and industrial product ranges remain in demand. We recently exhibited the full portable X-ray product range at the Intersec exhibition in Dubai and this generated exciting new leads in the region.”