Kromek hails maiden profit in full year results

DETECTION technology specialist Kromek says a better than expected performance has brought its first profit.

- TOM KEIGHLEY Business writer [e-mail]

The County Durham-based maker of radiation detection equipment turned a £3.5m pretax loss into £3.1m profit in the year to the end of April. Bosses say the change was thanks to lower than expected costs and higher than anticipated revenue on its landmark Siemens Healthineers work, which delivered a $25m payment during the year.

The London Stock Exchange-listed firm saw revenue jump 37% to £26.5m from £19.4m the year before, with its advanced imaging division making the largest gains with revenue up to £20.3m from £9m.