Shares in Image Scan Holdings PLC on Thursday soared on Thursday as it expressed delight at a £3 million contract win.

The Loughborough, England-based x-ray screen system supplier said it has been selected for a contract with a prominent UK defence contractor, NP Aerospace Ltd, for the supply of its ThreatScan portable X-ray system.

The contract will start with a three month trial and testing process, expected to begin in September.

Once the trials are successfully concluded, Image Scan will start to deliver the X-ray systems.

The estimated contract value is around £3 million over a 36 month period, Image Scan said.

The contract will not impact the sales and profit performance for the financial year ending September, with revenue and profits being recognised in financial 2025 and 2026 respectively.

Shares leapt on the news, rising 72% to 2.28 pence in London on Thursday.

Image Scan’s Chief Executive Vince Deery said: ‘I am delighted that we have secured this contract, which has been achieved against stiff international competition.’

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