IN BRIEF: Image Scan shares jump as signs European government contract
Image Scan Holdings PLC - Leicestershire, England-based provider of X-ray screening systems - Signs contract with a European government defence organisation, following a competitive international tender process. Under the contract, Image Scan will supply 25 units of its ThreatScan portable X-ray systems for use in explosive ordnance disposal operations. ‘The precise timing and allocation of revenue recognition will depend on delivery schedules and customer acceptance milestones, with a majority anticipated to be recognised in the current financial period,’ Image Scan says.
Chief Executive Officer Vince Deery says: ‘We are pleased to have secured this contract with a European defence organisation following a highly competitive international tender process. This award reflects the proven performance of our ThreatScan systems in demanding operational environments and reinforces Image Scan’s position as a trusted supplier of portable X?ray solutions to government and military customers. We look forward to supporting the customer as deliveries commence.’
Current stock price: 2.00 pence each, up 14% on Friday morning in London
12-month change: up 38%
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