Kromek Group hails resilience after orders joy

A technology firm behind equipment used to foil terror plots has hailed its resilience in ever-changing markets after securing multi-million-pound orders.

Kromek Group says it has made “steady operational” progress across its principal divisions despite ongoing geopolitical disruption.

Officials say the company – headquartered at NETPark, in Sedgefield, County Durham – was boosted by £8.8 million orders in the second-half of its financial year, which leaves it primed to meet revenue and pre-tax profit expectations of £27.2 million and £2.15 million respectively.

According to a trading update for the year to April 30, the business expects its chemical, biological, radiological and nuclear detection arm – known for supplying handheld radiation equipment to global security forces to combat terror attacks – to report year-on-year revenue growth.

Its advanced imaging division, known for technology used in scanners to help diagnose conditions such as osteoporosis, is also set to reveal “good underlying growth”, thanks to factors including progress on long-term contracts.

The department previously benefited from a Siemens Healthineers deal wherein Kromek Group – which has further bases in Huddersfield, Pennsylvania and California – supplied furnaces for production of the semiconductor cadmium zinc telluride used in detection equipment.

Dr Arnab Basu, Kromek Group chief executive, 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 £8.8 million, a significant portion of which was delivered before year end.”

He added: “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.”

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