22nd Jul 2014 10:02
LONDON (Alliance News) - Kromek Group PLC said Tuesday that it expects to meet market expectations for the year to the end of April, and announced it had won a contract for its bottle scanner technology.
The radiation detection technologies company said that it will provide its bottle scanner technology to a number of airports in Asia in a contract initially worth USD620,000.
Revenues from the contract are expected to be recognised in the current year, it said.
The technology is used to scan liquid, aerosol, and gel containers being taken on aeroplanes for the presence of dangerous liquids. It can be integrated into baggage scanning equipment, a well as on a stand alone basis.
"This initial contract win is in a new geographical market with considerable scope for future growth," said Chief Executive Arnab Basu in a statement.
Kromek plans to release its full-year results August 28.
Shares in Kromek were trading up 1.8% at 56.50 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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