Image Scan sees 40% revenue increase

3rd Oct 2011 07:33

Image Scan expects revenues to increase 40% as orders for its security equipment increased threefold from last year. Its shares surged 15%.The group, which last month said it had won a £1,460,000 for the supply of x-ray security screening systems, said sales of security equipment have increased by 10% to over £1.3m.Image Scan, which provides real-time 3D and 2D x-ray imaging for the security and industrial inspection markets, said a contract from the nuclear sector and other industrial orders have provided a further £800,000 of sales. Overall this represents an increase in revenue of 40%, it said.CEO, Louise George said, "The company is now seeing the results of the investment in an expanded sales team to execute the strategy of building revenue growth based on selling standard security products through a network of agents and distributors worldwide."The group said it has also been able to capitalise on an opportunity to apply its technology to the inspection of nuclear waste. "Image Scan has seen order intake in FY11 at more than three times that of the prior year, and will be entering FY12 with an order book in excess of FY11 total revenue."---cj