Sales tumble at Loughborough X-Ray firm
Loughborough-based X-ray screening systems manufacturer Image Scan has seen its sales slump by 31% after its slow recovery from the pandemic was compounded by government contract delays.
The news follows a profit warning in October in which the firm signalled its full-year performance was likely to fall below expectations.
Image Scan said delays with component sourcing were also to blame for the performance, which saw it slip to a loss of £0.35m.
The group generated revenues of £2m during the year to 30 September 2022 – down from £2.9m in 2021.
Image Scan CEO Vince Deery said: “Following the organisational changes completed during the year, I would like to thank Bill Mawer [who stepped down as CEO in January] for his leadership and contribution over the last eight years. Furthermore, I would also like to express my appreciation to the new Chairman Tim Jackson and the entire Board for their support in this transitional period. Both myself and the Board take this opportunity to commend the staff for their valued contribution during a challenging year. Our goal is to build upon Bill’s legacy while focusing on the expansion of our higher margin portable product line which we believe is our route to returning to profit in 2023.”
