9th May 2025 06:55
(Alliance News) - Kromek PLC on Thursday reported that it expects to report revenue and profit ahead of market expectations for the year ended April 30.
The Durham, England-based radiation detector and bio-detection technology solution developer expects to report a financial 2025 revenue of no less than GBP26 million, up 34% from GBP19.4 million the previous year.
This is as a result of the positive financial impact of a partnership with Siemens Healthineers AG, which it entered into in January.
According to the company, this expected rise in revenue is also underpinned by a contracted revenue of GBP20 million and "a substantial near-term revenue pipeline."
Chief Executive Officer Arnab Basu said: "Looking forward, with contracted revenues of approximately GBP20 million, we have strong visibility for FY 2026 and are well-positioned to deliver another year of revenue growth, at least in line with market expectations, driving long-term value for our shareholders."
In a separate release on Thursday, the company announced that Clair Burgess has been appointed as a director, chief financial officer and secretary as Paul Farquar resigns from these positions. Both will be effective from June 1.
It added that Burgess will join the company on Monday to "allow for a period of handover ahead of her assuming her new role."
Kromek shares rose 4.4% to 6.00 pence in London on Thursday.
By Olivia Mason-Myhill, Alliance News reporter
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