Image Scan Holdings PLC on Wednesday said it has finalised the contract for the supply of its ThreatScan X-ray system with UK defence contractor NP Aerospace Ltd.
Image Scan is a supplier of X-ray screening systems to the security and industrial inspection markets based in Loughborough, England.
Image Scan said the contract is worth about £3 million over its 36-month term.
The company said the testing and trial stage of its ThreatScan X-ray system will commence shortly and will be completed in the coming months.
Once the trials are successfully completed it will commence delivery of its ThreatScan X-ray systems.
The ThreatScan portable X-ray system comprises a portable X-ray generator, a detection panel, and an operator’s workstation, and is designed to assist operators working in the defence and security environment.
Image Scan noted that the contract will not affect its results for financial year 2024, which ended on September 30.
It said that revenue and profits from the contract will largely be recognised in financial years 2025 and 2026.
Image Scan Chief Executive Vince Deery said: ‘We are thrilled to have successfully agreed the contract with NP Aerospace, marking a key achievement in our strategic collaboration.’
‘As we now move forward together into the testing and trials phase, we are confident that this partnership will further enhance our ability to meet the evolving challenges of the defence and security industry,’ he continued.
Image Scan shares were up 6.5% at 3.30 pence each in London midday Wednesday.
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