21st Aug 2025 11:08
(Alliance News) - Image Scan Holdings PLC on Thursday strengthened its order book, but said it doesn't expect to meet market expectations for the full-year following supply chain challenges.
The Leicestershire, England-based provider of X-ray screening systems said it still expects a positive second half of the financial year, as detailed in its interim report. However, long lead times in the supply chain have impacted manufacturing and assembly time, hurting its outlook for the financial year to September 30.
The outcome for financial 2025 "remains uncertain", said Image Scan, adding that it does not expect to meet existing market expectations.
The company reported an improved cash position for the end of July of GBP771,000, rising from GBP512,000 at the end of March this year. It does not expect this figure to be "materially different" at the financial year-end.
Image Scan also reported an improved order book on Thursday, with it having secured two new contracts, but said that it is not yet clear as to whether they will be delivered before the financial year end.
The first contract is for its industrial MDXi-400 system, and is with a new, unnamed customer in North America. Image Scan said this represents "a significant success" given its position in the market.
The second order relates to its latest portable ThreatScan system, with this also placed by a new customer, which the company described as an "Eastern European military organisation."
The financial details of each order were not disclosed by the company.
Image Scan said it is currently working to deliver a double-digit quantity of ThreatScan systems to a customer in Southeast Asia. It sees this completing before the financial-year end.
Looking ahead, it said it continues to seek clarity regarding the large contract timing from a UK defence contractor, expecting an update in the first quarter of next year.
Shares in Image Scan were 5.9% lower at 1.37 pence on Thursday morning in London.
"The company is actively managing the supply chain challenges and the entire team remains focused on delivering its significant order book," said Image Scan.
By Christopher Ward, Alliance News reporter
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