Leicestershire X-ray specialist back in profit

Image Scan, the Leicestershire-based X-ray firm, looks set to trade its way back into the black according to an announcement this morning.

The firm says that it hopes to make a profit of £100,000 for the year ending 30 September – after posting a loss of £640,000 in 2015.

Image Scan also says revenues will improve from £1.7m in 2015 to £3.3m this year.

The business says the improved performance was “driven by manufacturing and supply chain efficiencies”.

Image Scan’s chairman and chief executive, Bill Mawer, said: “I am delighted by these results as they demonstrate how attractive our recently developed products are to the market and illustrate the significant advances we have made in the management of our supply chain and manufacturing processes.

“It is pleasing that both the security and industrial business activities have made progress in the year. Our strong order book and cash positions point to continued good performance in the short term while our strong product pipeline and the expanding customer base indicate a strong future for the Company. This is an exciting time for Image Scan and the immediate task is to continue the momentum we have built up this year.”