REG - Image Scan Holdings - Trading Statement

Image Scan HoldingsAnnouncement

28/02/2023 07:01

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RNS Number : 1993R  Image Scan Holdings PLC  28 February 2023

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

IMAGE SCAN HOLDINGS PLC

("Image Scan" or the "Company")

 

Trading Statement

 

Image Scan, (AIM: IGE) specialists in the field of real-time X-ray imaging for
the security and industrial inspection markets provides a trading update ahead
of its Annual General Meeting being held later today.

Trading for the year ending 30 September 2023 has begun with a strong
momentum, with demonstrations, attendance and interest at trade shows, events
and conferences beginning to return to pre-pandemic levels.   Image Scan
anticipates this trend will continue, particularly in Asian markets which have
been trailing other territories in economic recovery.

 

The new ThreatScan®-AS1 is experiencing improved enquiry levels, being widely
demonstrated to positive reviews, and is gaining a foothold in the market.
The Image Scan R&D team will continue expanding this area of the product
range, capitalising on the higher price point of this target market.

 

Positive partner feedback, coupled with increasing visibility of government
projects coming back on stream in 2023 is providing greater confidence in the
sales pipeline for the year.

 

Image Scan's industrial business continues to perform in line with management
expectations, reflecting the automotive industry's transition to electric
vehicle (EV) manufacturing.  Revenues are transitioning away from North
America and the UK to Eastern European and Asian territories.  A programme to
update systems installed globally to meet new manufacturing and software
specifications is progressing well.

 

The planned transition to the new board structure for Image Scan Holdings plc
has been executed smoothly.  The Board has been further strengthened by the
recent appointment of Sunil Vadgama, bringing with him decades of valuable
industry experience.

 

Vince Deery, Chief Executive Officer of Image Scan said: "The increase in our
order intake in line with management expectations is encouraging,
demonstrating a significant swing from last year's performance.
International travel, attendance at trade shows and demonstrations are
gathering momentum, generating new opportunities for Image Scan.

 

"Our development program, focussing on our higher specification products is
progressing well, and strategic company developments will become viable
opportunities with recent shareholder engagement activities."

 

The Image Scan Holdings plc AGM will take place on 28 February at 13.30 at its
Barrow-Upon-Soar HQ, with online attendance also facilitated.  A brief
presentation will be given by the Board, which will be made available on the
investor's website immediately after close of the meeting.  For more
information, please visit www.3dx-ray.com/investor-relations/.

 

Further detail will be provided in Image Scan's interim results in April 2023.

 

-ENDS-

 

 Image Scan Holdings plc                                                WH Ireland Limited

 Vincent Deery                                                          Nominated Advisor and Corporate Broker

 Chief executive officer                                                Mike Coe / Sarah Mather (Corporate Finance)

 Sarah Atwell-King,                                                     Tel: +44 (0) 207 220 1666

 Chief financial officer, Company Secretary

 Tel: +44 (0) 1509 817400https://www.3dx-ray.com/investor-relations/

For further information on the Image Scan, please visit: www.ish.co.uk
(http://www.ish.co.uk) . For further information on Image Scan products,
please visit: www.3dx-ray.com (http://www.3dx-ray.com)

About Image Scan Holdings plc

 

The core activity of the Group is the manufacture of portable X-ray systems
for security and counter terrorism applications. The Group recently launched a
cabinet X-ray machine. The products are taken to market across the world
through a strong network of international partners.

 

Over the last fifteen years, Image Scan has developed and manufactured
industrial X-ray inspection systems, the MDXi range. The primary market for
these systems is automotive emissions control where they are instrumental in
quality control inspection of catalytic converters and diesel particulate
filters.

 

The visibility and reach of the company's 3DX-Ray brand has been further
strengthened through a new LinkedIn profile focussed on its EOD and
counter-terrorism activities. This can be found at:
 https://www.linkedin.com/company/3dx-ray/
(https://www.linkedin.com/company/3dx-ray/)

 

For further information on the Company, please visit: www.ish.co.uk
(http://www.ish.co.uk)  - and for further information on its products, please
visit: www.3dx-ray.com (http://www.3dx-ray.com)

 

 

 

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