10th Oct 2013 07:40
LONDON (Alliance News) - Imagine Scan Holdings PLC shares were trading down 20% after it issued a profit warning Thursday.
The 3D and 2D X-ray imaging company, said that it anticipates full-year revenues of GBP2.5 million, down from GBP4.3 million in the previous year, although it stressed this did not reflect the underlying performance of the company.
It said that the receipt of a large one-off contract in the nuclear sector in 2011, and the timing of a security contract prior to the end of 2011 had boosted revenue in 2012. Comparatively, 2013 opened with a much smaller order book, but the company had secured more new orders during the year.
However, the timing of these orders has caused most of these sales to fall into the first quarter of 2014.
The company said that it had carried out restructuring to re-gear towards product sales and streamline operations. This restructuring had reduced overheads by 20%, the company said, and it had seen the benefits in the last quarter of the year.
Shares in Image Scan Holdings were trading down 20% at 2.50 pence Thursday morning, the second biggest faller on AIM.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
Image Scan Holdings