24th Sep 2019 12:08
(Alliance News) - Radiation detection firm Kromek Group PLC said Tuesday it secured two contracts for its D3S nuclear radiation detection platform worth a combined GBP1.6 million.
Kromek sealed a GBP600,000 extension contract from the US Countering Weapons of Mass Destruction Office. This deal will add further technical capability for the D3S systems.
The AIM-listed firm also secured a GBP1.0 million contract extension by an unspecified government-related European company.
Both contracts will will be delivered in the current financial year ending April 2020.
For the year ended April, Kromek generated a GBP1.3 million pretax loss on revenue of GBP14.5 million.
"The D3S family of products is gaining increasing momentum globally, with sales in 18 countries, as governments continue to adopt innovative solutions for countering the threat of nuclear terrorism," Kromek Chief Executive Officer Arnab Basu said.
"We are also pleased to be receiving further orders from existing customers, which reflects the value that they gain from our solutions," Basu said. "With some of our multi-year trials approaching a successful conclusion, we look forward to additional product and system-level sales of this leading-edge solution in the future."
Shares in Kromek were 2.1% lower at 24.38 pence in London on Tuesday.
By Ahren Lester; [email protected]
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