Kromek Group, a London AIM-listed supplier of detection technology, has recently announced that it has received three orders worth over $1 million in the chemical, biological, radiological and nuclear (CBRN) detection sector. These orders have been placed by both new and existing customers.
According to Kromek Group, a major portion of the revenue generated from these orders will be recognized in the fiscal year ending April 2024. This, coupled with their recent $5.9 million contract with the U.S. Homeland Security Department, provides a strong foundation for the company's forecasts.
CEO Arnab Basu highlighted that the increasing geopolitical insecurity and other global threats are driving the demand for their products, which play a crucial role in ensuring public safety and security. With the continuous commercial momentum in the CBRN sector, Kromek Group remains optimistic about receiving more orders in the future.
As a result of these positive developments, shares of Kromek Group saw an increase of 6.7%, equivalent to 0.30 pence, reaching 4.80 pence at 0833 GMT.