County Durham radiation detection specialist Kromek expects to report full-year results in line with expectations, boosted by continued global demand for its products. The NETPark-based business, which develops radiation detection and bio-detection technologies for healthcare, security, and defence markets, issued a trading update for the year ending 30 April, highlighting further operational and commercial progress in both its advanced imaging and CBRN detection divisions.
Kromek said results are expected to reflect increased revenue in its CBRN detection division and good underlying growth in advanced imaging, having secured £8.8m in new orders across both divisions during the second half of the year. Revenues are expected to reach £27.2m, with pre-tax profit of £2.15m.
In the advanced imaging division, supply chain disruptions due to global trade and geopolitical tensions affected the timing of order fulfilments. Dr Arnab Basu, CEO of Kromek, said: “This reflects a year of steady operational delivery and continued commercial progress across both of our divisions. In the second half of the year, alongside the execution of previously secured contracts, the group won new orders totalling £8.8m, a significant portion of which was delivered before year end.”
Kromek said the CBRN detection division delivered year-on-year revenue growth, supported by continued global demand for its products despite delays in some governmental contracts progressing to procurement stage. The business also navigated supply chain disruption linked to changing international trade relationships and wider geopolitical tensions, although the company said the impact was primarily related to timing of fulfilments rather than underlying demand.
Dr Basu added: “Importantly, we were able to significantly mitigate that disruption through the successful delivery of a major new order from an existing customer in the second half. The performance reinforces our confidence in the value of Kromek’s technology and the critical role our solutions play as customers move toward the build and commercialisation of next-generation photon counting CT and SPECT scanners.”
Kromek said it ended the year with “continued momentum” and remains focused on executing against its strategic priorities and delivering continued growth across its two divisions ahead of its full-year results announcement in September. Dr Basu concluded: “Overall, this has been a year that demonstrates the resilience of our business model, the strength of our customer relationships, and the growing relevance of our technology in mission-critical applications.”
