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Kromek sees huge opportunities in three markets

Full-year results from radiation detection technology company Kromek Group PLC (LON:KMK) saw the company notch up a record US$30mln in new contracts, but chief executive officer Dr Arnab Basu told Proactive Investors “this is only the tip of the iceberg”.
The company’s three main markets – medical, security and nuclear detection – are all huge. To take just one example, Dr Basu pointed out the D3S hand-held radiation detectors the company is doing with the US government representing a potential market opportunity of a billion dollars over the next decade or so.
Interestingly, product sales accounted for 65% of total revenues, up from 46% the year before, indicating a change of emphasis from development-led revenues and growing market traction for the D3S personal radiation detectors and the SPECT, or Single Photon Emission Computed Tomography, imaging system.
“These numbers are a shift from where we were, but they are just the beginning of what we hope will be years of growth to come,” the Kromek CEO said.
The key, Dr Basu believes, is that none of Kromek’s products are ‘me too’ products; they offer key differentiation. The markets Kromek serves are growing and, more importantly, getting ready to adopt the technology Kromek offers.

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