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The Markets
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Hardware & electrical equipment

Image Scan shares drop 14% as supply chain delays cloud outlook

Shares in Image Scan Holdings PLC (AIM:IGE) fell 14% on Thursday after the X-ray screening specialist warned that full-year results were unlikely to meet market expectations.

The company cited long lead times in its supply chain, which are slowing production and making delivery schedules uncertain.

Cash at the end of July stood at £771,000, up from £512,000 in March, with the year-end position expected to be broadly similar depending on contract receipts and deliveries.

Despite the outlook, Image Scan announced two contract wins: an order for its MDXi-400 industrial system from a new customer in North America, and a deal to supply its portable ThreatScan system to an Eastern European military organisation.

Deliveries of multiple ThreatScan units to a Southeast Asian customer are also underway.

The company said it remained focused on managing supply chain challenges and progressing its strong order book.

The stock fell 0.2p to 1.25p.

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