Listed Leicestershire firm slips into the red
Image Scan, the Leicestershire-based x-ray firm, has slipped back into the red after a “disappointing” first half of its financial year.
The company, which had to call off its proposed acquisition of Todd Research at a cost of £245,000 in October last year, saw a profit of £39,000 in the first half of 2018 slip to a loss of £178,00 this year.
Despite this, Image Scan bosses say they expect the firm’s performance to pick-up in the second half of the year.
Bill Mawer, chairman and chief executive of Image Scan, said: “The recent decline in the share price is clearly disappointing for all shareholders. Our short-term strategy is a simple one: to take more of our X-ray inspection systems, to more markets, as fast as possible. The entire staff of the Company is focused to this activity.
“We start the second half with a £1m order book and sufficient activity in our pipeline for the Board to expect the Company to meet market expectations for the year to 30 September 2019.”