Image Scan Holdings Plc (LON:IGE), which supplies X-ray technology to the security and industrial markets, saw good growth across the board in its latest full year and swung to a pre-tax profit compared to a loss in 2015.
Profit for the 12 months to end September was £105,000 compared to a loss of £550,000 last year on sales, which were almost doubled to £3.3mln (2015: £1.7mln).
The firm took orders worth £4.3mln against £1.9mln last year, while portable X-ray sales tripled compared to the previous year.
Chairman and chief executive Bill Mawer said the strong growth in security sales validated the group's product strategy adopted two years ago.
"Sales to industrial customers have also been healthy, reflecting the current strength of the automotive emissions control market, where key players use our X-ray inspection systems to support their manufacturing processes," he added.
Notably, Image starts 2017 strongly with a substantial order book, including more than 50 portable X-ray machines which will be delivered during the first half.
Its sales pipeline remains strong and support contracts for the large installed base of industrial machines provides valuable recurring revenue for the company.
"The outlook for the company remains strong in all its major markets and opportunities for further expansion continue to be explored," said Mawer.
As at 30 September, the group had cash of £1.1mln (2015: £0.5mln).
Shares shone almost 8% higher in early deals at 6.875p.