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Highlights
- FY25 revenue expected at approximately GBP 1.6 million, compared to GBP 2.9 million in FY24.
- Unaudited pre-tax loss of GBP 0.3 million, following a GBP 0.2 million profit in FY24.
- Cash balance improved to GBP 1.1 million as of 30 September 2025 (FY24: GBP 0.9 million).
Image Scan Holdings PLC (LSE:IMGE), a provider of advanced X-ray screening systems, has issued its pre-close trading update for the financial year ended 30 September 2025 (FY25). Despite early-year challenges and contract delays, the company achieved a profitable second half, underscoring a notable operational rebound and maintaining a robust order book for future growth.
Challenging Start to the Year
The first half of FY25 was marked by a difficult trading environment. Timing issues in contract delivery, coupled with ongoing supply chain constraints, hindered production capacity and revenue generation. These external factors particularly affected progress on a major defence contract, which had been previously announced and was expected to contribute significantly to the year’s performance.
Despite these setbacks, Image Scan maintained disciplined cost management, which helped to limit the full-year loss. The company also continued to prioritise operational efficiency and resource optimisation across its business segments.
Second-Half Profitability Drives Turnaround
As anticipated in the interim report, the second half of the year saw a marked improvement in trading conditions. Image Scan reported that operations in this period were profitable, mitigating the overall full-year impact of the earlier slowdown.
The recovery was driven by the delivery of existing contracts, improved component availability, and a return to steadier production output. Management highlighted that this operational rebound demonstrates the company’s ability to adapt to external pressures and deliver on commitments once supply constraints eased.
Order Book and Forward Outlook
Looking ahead, Image Scan reported an order book of GBP 4.7 million as at 30 September 2025, up from GBP 4.5 million the previous year. These orders are expected to be delivered primarily in FY26 and FY27, offering visibility into future revenue streams.
Demand for the company’s X-ray screening systems continues to be supported by the security, defence, and industrial sectors, where Image Scan’s technology plays a critical role. Post year-end activity levels indicate a more active and encouraging market environment.
