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Kromek moves the needle after positive trading update

The company said in a trading update for the year ended 30 April that it expected to report revenue growth and underlying (EBITDA) profit that was in line with market expectations
Radiation detector
Kromek makes detection software for the medical, security and nuclear markets

Kromek Group PLC (LON:KMK) shares were higher on Tuesday after the firm said it was expecting to hit its targets for the latest full year.

The company, which makes detection software for the medical, security and nuclear markets, said in a trading update for the year ended 30 April that it expected to report revenue growth and underlying (EBITDA) profit that was in line with market expectations.

READ: Kromek glows as increased orders add US$2.7mln in value to existing contract

Looking ahead, Kromek said it had continued to gain traction across all of its business segments with “high-value, multi-year” contract awards from its commercial and government customers.

The firm added that “increasing market adoption” of products incorporating its detection solutions, combined with a £21mln fundraising completed in February, meant it was “well-placed” to capitalise on expanding opportunities and that it looked to the future “with confidence”.

Kromek has already kicked off its new fiscal year on the front foot, announcing a US$2.7mln expansion to an existing five-year contract last Wednesday.

The company will report its full-year results for the year in early July.

In mid-morning trading, Kromek shares were up 3.3% at 26.9p.

--Adds share price--

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