Image Scan wins contract with 'prominent UK defence contractor'

4th Jul 2024 11:04

(Sharecast News) - Screening solutions provider Image Scan Holdings has secured a contract with a "prominent UK defence contractor" for the supply of its ThreatScan portable X-ray system.

Image Scan said on Thursday that its contract with NP Aerospace will commence with a three-month trial, with testing processes expected to kick off in September. Once the trials are concluded, Image Scan will commence delivery of its ThreatScan devices.

The AIM-listed group said the contract had an estimated value of roughly £3.0m over a 36-month period. Sales will not impact Image Scan's sales and profit performance and FY24 but will be recognised in FY25 and FY26.

Chief executive Vince Deery said: "This success stems directly from our revised product development strategy to focus on high performing portable systems and confirms our confidence in the strength of our extended portable X-ray product range within a competitive market.

"Image Scan remains committed to providing cutting-edge solutions in X-ray screening and reaffirms its dedication to meeting the evolving needs of the security inspection sector."

As of 1100 BST, Image Scan shares had surged 73.74% to 2.30p.

Reporting by Iain Gilbert at Sharecast.com