StockMarketWire.com - First half revenues at Kromek - a radiation detection technology company focusing on the medical, security screening and nuclear markets - rose by 27% to £4.8m.

Gross margins in the six months to the end of October improved to 63% (H1 2016/17: 53%) and pre-tax losses were unchanged at £1.8m.

Losses before interest, taxm depreciation and amortisation narrowed to £0.3m - down from £0.6m last time.

Chief executive Dr Arnab Basu said: 'During the period, Kromek continued to deliver significant revenue growth and took meaningful steps towards our stated aim of achieving EBITDA breakeven this year.

'In the first half, we saw growth in sales through executing on our previously-signed agreements while, at the same time, continuing to win new high-value contracts.

'We also succeeded in enhancing our reputation in our key target markets. Our D3S product was successfully deployed in high-profile situations for safeguarding against nuclear terrorism; and we achieved a significant milestone in SPECT by finalising the development of a system capable of producing clinical grade images that will improve early stage diagnosis of diseases such as cancer and dementia.

'We have entered the second half of 2017/18 well-positioned to deliver revenue growth for the full year and achieve EBITDA breakeven, in-line with market expectations.

'This position is underpinned by good visibility of revenues, with a significant proportion under signed contract. With our increasing traction with existing and potential customers, and with a strengthened order book, the Board looks to the future with confidence.'




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