REG - Image Scan Holdings - Trading Update

Image Scan HoldingsAnnouncement

06/10/2022 07:01

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RNS Number : 9393B  Image Scan Holdings PLC  06 October 2022

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.

 

6 October 2022

 

IMAGE SCAN HOLDINGS PLC

("Image Scan" or the "Company")

 

Trading Update

 

Image Scan (AIM: IGE), the specialist supplier of X-ray screening systems to
the security and industrial inspection markets provides a pre-close trading
update of its unaudited results for the year ended 30 September 2022.

Further to our revised guidance issued on 22 February 2022, we confirm that
revenues and profit for the year will be below market expectations principally
due to the slippage of contracts into next year that had been expected to
complete before the year end. The second half has been challenging due to
government contract delays and component supply issues which have had an
impact across our product range and will continue to do so for the foreseeable
future.

There is an uplift in market activity particularly around government
opportunities which have been suppressed or delayed over the past two years.
The levels of demonstration activity are improving along with attendance at
trade shows - this is encouraging for the coming year.

Although the prospects for the global economy in the months ahead are
uncertain and the exchange rate will provide opportunities and risks to the
business, we believe that we are well placed to deliver an improvement on this
year's suppressed results. This is based on the continued opening of the
global market place post pandemic which has allowed our new products greater
exposure both at trade shows and through customer demonstrations. Although our
opening order book is stronger than last year, our expectations for the coming
year are now lower than they were previously expected due to a prudent
assessment of the continuing challenges.

Image Scan's Chief Executive, Vince Deery, commented: "Despite the challenges
of the uncertain economic outlook, contract delays, supply side challenges and
exchange rate concerns we retain our optimistic outlook for the future and an
improved 2023. We continue to invest in new products and product developments
to maintain and grow our market share."

 

 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/)

 

 Enquiries:
 Image Scan Holdings plc                                            Tel: +44 (0) 1509 817 400

 Vince Deery, Chief Executive Officer                               ir@ish.co.uk (mailto:info@ish.co.uk)

 Sarah Atwell King, Chief Financial Officer and Company Secretary
 W H Ireland                                                        Tel: +44 (0)20 7220 1666

 Mike Coe/Sarah Mather (Corporate Finance)

 

 

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