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Kromek expects revenue growth in full-year results as sales boost earnings

The AIM-listed provider of radiation detection equipment said it saw sales growth from both previously signed agreements and new contract wins during the year
Radiation detection
The update follows a £1.4mln contract win for the company last week

Kromek Group PLC (LON:KMK) said it expects to report revenue growth in its full-year results as new and previous contracts boosted earnings.

In a trading update ahead of its results, the AIM-listed provider of radiation detection equipment said it expected its underlying earnings (EBITDA) to break even, in line with market expectations, as it saw a growth in sales through executing both previously-signed agreements as well as new high-value contract wins during the year.

READ: Kromek secures three-year project worth £1.4mln to deliver a molecular breast imaging device

The group added that its products continue to gain traction in all its business segments from the increasing adoption of CZT-based technology, expecting to see further growth in the new financial year along with new customer wins.

The update follows a £1.4mln contract win for the company last week when it secured a three-year project by the UK’s innovation agency, Innovate UK to deliver a molecular breast imaging device.

The group will release its full-year results in July 2018.

In mid-morning trading Tuesday, Kromek shares were up 4.7% at 22.2p

--Adds share price--

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