Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
X-ray screening systems supplier Image Scan reported lower annual profit as the impact of COVID-19 pandemic weighed on the sales growth.
For the year ended 30 September 2021, Pre-tax trading profit, adjusted for capitalized R&D spend, fell to £98,000 from £112,000 a year earlier as sales fell to £2.9 million from £3.5 million.
'Launching a new product without being able to visit customers or attend trade shows has presented a considerable challenge, as has servicing our widely deployed industrial X-ray machines,' the ocmpany said.
New orders increased to £2.8 million from £2.4 million and included both sales of new products, such as the Axis-CXi cabinet X-ray system, and sales to new customers in new territories.
Looking ahead, the company said it expected to launch both portable and conveyor X-ray systems in early FY 2022.
'Disruption to global supply chains remains a concern but, with more product launches planned for the new year, and a world that is starting to adjust to the presence of COVID-19, we retain our optimistic outlook for the future.'