Image Scan Holdings PLC (AIM:IGE) shares dropped on Wednesday after the specialist in real-time X-ray imaging warned investors that its new financial year started slowly, in terms of sales and order intake.
The AIM-listed company said it expects to report a loss for the first half and added that the year would be “more significantly second half weighted than last year”.
Moreover, it said delays under a significant UK defence contract disrupted its delivery schedule and pushed back the realisation of sales into the second half.
“While the first half of FY25 is being affected by external delays and a slow order intake, we remain confident in the opportunities available to us and in the outturn for the year as a whole,” chief executive Vince Deery said.
The company, which holds its AGM today, also noted that it remains committed to "creating strategic growth opportunities", and with the support of its largest shareholder, is actively analysing acquisition targets that offer complementary products or technologies.
“Our strategic plans, including exploration of potential acquisitions, are at the forefront of our ambitions and will position us for operational resilience, competitive strength and sustained growth,” Deery added.
In London, Image Scan shares were down 17% changing hands at 2.4p.