Kromek Group PLC (AIM:KMK), a developer of radiation and bio-detection technology, said increased geo-political tensions is driving sales growth.
For the year ended 30 April 2022, revenues jumped 16% £12.1mln and loss before tax narrowed to £6.1mln from £6.3mln.
"We entered the new financial year with a higher order book than the previous year and the highest level of revenue visibility in our history," said chief executive Dr Arnab Basu.
"The current geopolitical environment is driving greater interest from government agencies for our CBRN (chemical, biological, radiological, and nuclear) family of products and in advanced imaging we are experiencing heightened engagement.
"Consequently, for FY 2023 we anticipate substantial year-on-year revenue growth and we look forward to the future with increased confidence."
Kromek said it is managing its supply chain and the current challenges around sourcing components and expects its revenue visibility to allow it to manage inventories to avoid delays.
In a separate statement, the company said it received two new orders worth a total of US$751,000 to be delivered in the current financial year.
Both orders are from existing customers in the medical imaging market, with one worth US$500,000 and the other worth US$251,000.
The larger order is for the supply of detectors for bone mineral density application, while the smaller one is for detectors of gamma probes in nuclear medical applications.