StockMarketWire.com - Radiation detection technology group Kromek reported Monday, annual pre-tax losses narrowed, and revenues increased 32% as the company ramped-up commercial activities. For the year to 30 April, pre-tax losses were £2.5m compared with a loss of £3.8m the previous year, revenues increased 32% to £11.8m, earnings (EBITDA) swung to a profit of £0.5m compared with a loss of £1.5m the previous year.

The upbeat performance was supported by an increase in commercial activities as the company executed on previously-signed agreements and commenced delivery on new high-value contracts won during the year.

Gross profit rose to £6.7m from £5.1m the previous year, but margins fell 56.4% for the year from 57.1% the previous year.

The company said it expects its OEM customers to launch products incorporating Kromek's technology during the 2018/19 financial year and anticipates that this would prompt additional orders to be placed as sales of these products accelerate.

'We continue to win new customers and, together with executing on previously-won contracts, Kromek expects to deliver growth across its business segments and to report continued revenue growth for 2018/19 in line with market expectations,' said Dr Arnab Basu, CEO of Kromek.






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