Kromek (AIM: KMK), a worldwide supplier of detection technology focusing on the medical, security screening and nuclear markets, provides an update on business and trading ahead of announcing its results for the year ended 30 April 2021, in July 2021.
As noted in the Group’s interim results announcement, orders and shipments across all of the Group’s segments resumed in the final two months of the first half of the year and as such the Board was pleased to enter H2 2020/21 with an extensive commercial pipeline and experiencing increased commercial activity. This momentum continued throughout the second half as the Group delivered on previously awarded contracts and won new orders. As a result, the Group has achieved significant sequential revenue growth in H2 over H1 2020/21 and expects to report revenue and EBITDA for the year ended 30 April 2021 in line with market expectations. The Group continues to maintain tight cost control, improve collections and manage cash flow, and this conscientious management has resulted in the Group’s cash position at 30 April 2021 being slightly ahead of market expectations.