Image Scan (IGE) said on Thursday that trading year to date was robust and in line with expectations, and that it has signed a UK distribution agreement with Italian X-ray firm Gilardoni.
The security and industrial X-ray inspection systems developer said that a strong order intake at the end of 2019 left an order book of £1.7 million.
The company received a valuable spare parts order for a large nuclear screening system it delivered in 2015, as well as new security and industrial contracts.
Image Scan also said it released new image processing features, and a major wireless communication upgrade for its portable X-ray product range.
Image Scan's Chairman and Chief Executive, Bill Mawer, said: "Our organic growth strategy is focussed on expansion of both our product range and our market reach, so it is pleasing to be able to report on progress in both these areas.”
Shares in Image Scan were trading 17.95% higher at 2.3p on Thursday
Image Scan plans to increase its sales efforts in North America hiring a former US Marine senior Explosive Ordnance Disposal (EOD) technician, who the company said was an experienced programme manager.
Mr. Mawer commented: “I am particularly delighted to welcome our new sales consultant, as he comes with considerable experience and expertise, and gives us, for the first time, a footprint in the USA.”
The AIM-listed firm also revealed that a prototype of a new security X-ray system produced first images, and it is expected to launch in the second half of FY 2020.
Mr. Mawer said: “As I said in the annual report, the portable X-ray market is competitive, but our offer is a strong one and we are working hard to differentiate our product range and expand into adjacent sectors.”
“I am optimistic for a good first half and hope we can continue our current momentum through the rest of the year."
Image Scan is holding its AGM on 25th February, at its Barrow-upon-Soar facility.
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