X-ray manufacturer set to return to profit

Image Scan, the Leicestershire-based supplier of X-ray screening systems looks set to return to profit, the company announced this morning (October 10).

The firm said in a pre-close trading update that revenue for the year-ending September 30 was expected to come in at £3m – a 50% rise on 2022, while a loss of £350,000 last year looks set to be turned into a profit of around £100,000 this time around.

Image Scan said its restructuring and cost control programs have contributed to the return to profit, coupled with “prudent” cash management.

Image Scan’s chief executive, Vince Deery, said: “I am delighted with the work we have undertaken this year to ensure organisation changes and cost controls have had their impact which has helped deliver the hugely welcome return to profit. With the improving market conditions, we wish to build on this result and use the coming period working with significant shareholders to look at the strategic opportunities for growth as a listed business.”