Image Scan back in the red as profits are wiped out

Image Scan, the Leicestershire X-ray screening systems supplier, has slipped back into the red with profits and revenues slumping for the year-ending 30 September.

Sales were down by over £1m to £2.4m for the 12 month period, with Image Scan blaming the performance on delayed Government orders and a fall in sales to the Indian subcontinent.

Meanwhile, a profit of £48,000 in 2018 was turned into a loss of £403,000 this year – a result which the company has labled as “disappointing”.

Despite this, chairman Bill Mawer is upbeat.

He said: “It is disappointing to be reporting a decline in sales and profits. However, while the portable X-ray market has undoubtably become more competitive, recent orders show that our strong product range and focused international sales activity can still deliver. I am pleased to report that we start the new financial year with an order book that includes more portable systems than were delivered in all of last year.

“In FY 2020 we will continue our focus on expanding the security product range and filling gaps in our international partner network as we look to drive organic growth in our key markets. We will also seek out larger security screening projects that build on our capability and expertise. The industrial screening market continues to present opportunities for growth as emissions control legislation tightens in key markets and we look for new customers for our sophisticated X-ray systems.

“The company has started the new year strongly and we expect to see a material improvement in our performance in the year.”