Kromek loss widens during first half

By
0 mins. to read
Kromek loss widens during first half
Master Investor Magazine 46 cover

Never miss an issue of Master Investor Magazine – sign-up now for free!

Read the latest Master Investor Magazine

Detection technology firm Kromek (LON:KMK) saw revenues for the six months ended 31st October drop to £3.7 million from £4.8 million during the same period of last year. Gross margins improved by 400 basis points, but the company’s loss before taxation widened to £2.1 million.

CEO Dr. Arnab Basu said: “Over the last three fiscal years we have won $80m of contracts, across all of our core sectors, demonstrating the successful conversion of our growing order pipeline. They also demonstrate the strong and long-lasting partnerships that we are continuing to build with our commercial and large government customers across the globe.

“As we continue to deliver on existing contracts as well as win new orders, our visibility of revenue for the next six to 24 months continues to increase, which includes visibility of approximately 86% of the forecast revenue for 2018/19. As a result, the Board is confident of delivering full year revenue growth and positive EBITDA, in line with market expectations“.

The price of Kromek shares fell by 3.64% to 26.50p (as of 13:45 GMT).

Comments (0)

Leave a Reply

Your e-mail address will not be published. Required fields are marked *

YOUR FREE INVESTMENT MAG

Get real investment insights from some of the best minds in the business - with our free Master Investor Magazine.